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What is a successful franchise
Successful franchises are those that have somehow proven their sustainability in business.– says Jean-Paul Rebetes, managing partner of Gouvêa Consulting.
It is important that it has been tested in exhaustion and with the end consumer. This applies to marketing and sales strategy, operating systems, physical store architecture, team training, in short, the entire operation. If you don’t test, it can cause a lot of frustration, operational inefficiencies and your network can be infected with potential failures.
Jean Paul Rebetes, Managing Partner of Gouvêa Consulting
Franchising is not a sales system
For Rizzo, franchising is about transferring business experience (time) and knowledge (know-how) from those who have them to those who don’t. He cites industry research: an average of 256 new franchises enter the market annually over the past five years. Only 14 of them reach the second year of life. Of these 14, only eight reach the fourth year of life with a network that does not reach 30 units.
At least two years should be by this time for the business to mature, notes Rebetes. This is the deadline for the company to review the entire operation before opening a franchise.
