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Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!
Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!

Should Emerging Brands Work With A Franchise Development Company?

Frandata’s recent research on franchisors revealed that the top three challenges emerging brands face today are raising capital, finding qualified franchisees and promoting and selling their franchise offering.

If you can relate to those struggles, you’re not alone. Few emerging franchises are fortunate enough to have the resources, both human and digital, to build out a dedicated development team. Oftentimes, it’s only one or two people doing the heavy frandev lifting.

And even if a given company has a compelling franchise offering, without having a robust development engine behind it, it’s difficult to thrive long term. They’ll always be at a severe disadvantage to those that are.

One solution that’s becoming more and more popular in the space is working with a franchise development company. Franchising.com published a helpful piece about this trend, and how for emerging brands, frandev firms can offer more advanced services to help them accelerate their system growth. 

Whether it’s generating leads, qualifying prospects, or training and coaching the franchise on marketing or infrastructure, franchises with less than one hundred units are critical to the industry, and franchise development organizations can help them thrive.

Oakscale, FranchiseHelp’s sister company, has been doing some amazing work in the past several years on this front. They’re experts in using tech enabled strategies to plug in highly skilled, well capitalized, and sophisticated development teams to launch and sustain growth for emerging franchise brands.

And in light of the sheer number of inquiries and applications they’ve been receiving for franchise information on two of their brands (PetWellClinic and Surveillance Secure), this franchise development is on par to have the best year ever.

Ultimately, should emerging brands work with a franchise development company? If you’re struggling to raise capital and find qualified franchisees, then it might be the right path for you.

If you’re looking to gain access to franchise investors that most companies could only dream of, while leaving your brand’s executive team to focus on training, support, and franchisee success, it could be the game changing move of the year.

Considering how challenging it can be to franchise a business, going the route of a franchise development firm can help an emerging brand without taking as big of a financial risk.

Choosing Between a Product and a Service Franchise

There are basically two types of businesses that can be offered by an individual. They can offer Products to their customers which are tangible goods meant for the customer's consumption or they can offer them Services which are intangible and work to make the life of the consumer easier and more convenient. With technologies advancing rapidly and the global demands of consumers changing there is a very thin line dividing the service and product segment of the consumers demands. An example of this can be the purchase of a car from an auto dealer. The dealer not only offers the vehicle at a competitive rate but now has to offer different services as well, such as financing options, after-sales services, ready documentation and other non- tangible services. This kind of merging has made it very difficult to draw a clear line as to the service and product industry but for the sake of argument we will consider a theoretical perspective where you have to choose a traditional product franchise or a service franchise.

Top Five Least Expensive Franchises

Franchise opportunities aren’t just for the well-funded; many affordable franchises cost under $25,000. Franchises start-up costs are approximate and may change, but here are five of the cheapest franchise opportunities around:

Before You Can Lead Others...

During my work for the past decade, both running and consulting to companies at every level of the business spectrum, I have noticed a curious and extremely prevalent trend.