How can a small existing company be transformed into a fast growing franchise system?
Hatching new franchise systems is not for the faint of heart. Most of the businesses that launch franchise programs never place enough franchise units to reach the sustainability threshold, becoming instead the “walking wounded” of the franchise world. When we took on the Futurekids assignment, it was a small company built around part-time teachers working from their homes. These independent contractors delivered a Futurekids add-on computer education program through existing pre-schools and elementary schools. After analyzing the business, it was clear that this approach would not be able to meet the client’s objectives for growth and profitability due to its inherent program and marketing limitations. Our first step was working with the client to create a more franchisable business strategy. The result was a new retail store concept that vastly expanded Futurekids’ potential customer universe and a systems, strategy and image overhaul that gave Futurekids powerful appeal to kids, par
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- How can a small existing company be transformed into a fast growing franchise system?
