How FSOs Promote Responsible Growth

Franchise FastLane’s commitment to promoting responsible growth has led the organization to become the industry’s No. 1 franchise sales organization (FSO). But what exactly is meant by responsible growth? In short, the notion can be boiled down to one key aspect of the franchise sales process – making sure that every phase of the sales process – from pre and post-sale, to business launch, to ongoing support, goes according to plan.

Ultimately, a brand’s growth is the responsibility of the franchisor. But many of the challenges and obstacles to expanding operations at the unit level are fairly common. First and foremost, many new and emerging brands struggle to bring in qualified leads that are the right fit for the opportunity. Often, the discovery and sales process are in dire need of attention to define the brand and its value proposition. Lastly, there is the question of securing the kind of capital necessary to implement the changes that can foster responsible growth. These three challenges combined come down to the issue of scalability. And if you don’t have a plan for scalability, you definitely need one.

That’s why more and more franchisors are turning to FSOs to manage their sales and development processes. But this requires both the sales and operations teams to work in concert with one another, always aligned. Keep in mind – it’s one thing to make a sale. But following through on that sale to ensure a successful business launch, with all due support delivered to franchisees in the network, is what makes an FSO honorable, responsible, and truly committed to the brand’s collective success.

Keep reading for a list of specific ways FSOs promote responsible growth for the brands they represent…

Setting Realistic Expectations

Respectable FSOs will always set realistic expectations for franchise growth. Lofty goals, such as selling dozens of units within a narrow timeline, look good on paper. But unless the FSO can help the brand follow through on the commitments related to the sale, that’s all it is. A number on paper. Responsible growth is about setting realistic expectations.

Finding the Right Franchisee for the Right Franchisor

Reliable FSOs aren’t supposed to chase sales just for sales sake. Responsible growth means delving into the demographics, personas, capital requirements, and qualifications for all candidates – weeding out those who simply aren’t a fit. They understand that not everyone is cut out for franchise ownership. FSOs know the traits to look for in a franchisee – and whether they’ll be a dependable part of a network of franchisees dedicated to the collective success of the brand.

A Focus on Scalability and Sustainability

Unrestrained growth should never be the stated goal of a good franchisor. Rather, the organic growth must occur is a sustainable way that aligns with the scalability of the opportunity. As the brand proliferates, it must have the infrastructure and support in place to support it.

Proven Processes

Experienced FSOs understand the value of implementing proven processes. As turnkey partners, FSOs are responsible for every aspect of the sales process, as well as the follow through. Helping operational units get established and up and running is where the real tally begins. And one of the best ways to get there is through proven and established processes. This extends to marketing, sales, and value-added platforms designed to foster responsible growth. FSOs provide the framework of proven processes necessary to ensure success at the brand level.

How Franchise FastLane Leads the Way…

In service for over two dozen high-performing brands in our portfolio of franchise opportunities, as well as many other new and emerging brands we’ve established burgeoning relationships with, Franchise FastLane is committed to setting a new industry standard for FSO partnership value. We never cease to find new and creative ways to help franchisors invest, improve, and prosper as they grow their nationwide footprint and enhance their own value propositions to attract a new generation of franchisees. To date, FastLane is the only FSO to invest in multiple value-added programs that benefit these aims. These initiatives and programs include:

CarPool Program – in a solution for the many, not just the few, CarPool offers coaching and administrative services designed to meet franchisors where they are, filling any gaps in franchise development. Open to new, emerging, and established brand partners looking to perfect their process and plug into FastLane’s proven systems and processes, franchisors can keep sales development in-house while receiving coaching, technology infrastructure, administrative support, territory checks, call scheduling, validation, and leadership call reminders. In addition, brand partners receive guidance on consultant network contracts, assistance with compliance issues, and up-to-date territory mapping.

MasterMind 2.0 Initiative – client-focused group meetings designed to help franchisors scale their business and meet today’s most pressing concerns. Because the participants face similar challenges during periods of rapid growth, MasterMind sessions allow them to consider the driving forces behind their systemic and operational successes to date, and how best to apply groupthink to improve on them. This is accomplished through monthly meetings and 1:1 coaching with David Gullotti, who has extensive experience helping franchisors scale their businesses to address today’s challenges.

Brand Health Assessments – recently instituted, FastLane brands are now required to regularly submit data on sold-to-open rates, the percentage of franchisees on track with development schedules, updated break-even timelines, and financial key performance indicators such as cash on hand and current liabilities. These figures reveal the health of their brand partners and whether course corrections are needed so FastLane can proactively assist and mentor. 

Preferred Vendor Partnership Program - a preferred and vetted collection of vendors and suppliers to help with critical tasks, where brand partners can access recommendations for services such as bookkeeping, payroll, HR and recruiting, insurance, marketing, background checks, technology/IT services, and setting up a franchisee store. There are also preferred vendors and suppliers who handle site selection and commercial build outs. Franchise FastLane handles the initial introductions, then follows up to make sure the partnership is in place, ensuring franchisors are supporting their franchisees with the best partners.

Within the franchising industry, there is 100% buy in that we’re all working with the proper business model to ensure growth at the brand level. As the industry approaches a remarkable milestone of one million established units in the U.S., it’s fast becoming known as the wealth generator we’ve always known it to be. There’s plenty of success to go around, but FSOs should always strive to make sure everything is done responsibly.

Are You Ready to Take Your Brand to the Next Level?

Franchise FastLane is the No. 1 Franchise Sales Organization (FSO) in the country and our mission is to responsibly drive extraordinary growth for the chosen few. If you are interested in learning more about the possibility of joining the FastLane or CarPool, please click here to submit an application. To keep up with all the latest happenings, make sure you follow us on LinkedIn, like us on Facebook, and check out our collection of photos on Instagram.