In the franchise business, there is a lot of hype about awarding / selling franchises. It’s hard to determine what it means to award a franchise when some franchisees make commitments for one or many franchise units, but in some cases they are not obligated to open those locations for a long period of time. This is complicated by the fact that in some cases the franchisee is purchasing large areas with substantial commitments for both developing the franchise and supporting new franchisees.
If you are unfamiliar with the world of franchise sales, you will likely find it confusing when a company talks about awarding hundreds of franchises, but they only have two open locations. The franchise disclosure document is a good place to go to understand the number of units that are opened, the number that are committed to be opened, and the number that have closed. If you are evaluating a franchise, you can gather a lot of good information from those details.
All of that aside, awarding franchises is a rewarding job. We love to help brands find people that will help their businesses grow in new territories.
This year, at Franchise Foundry, we have awarded commitments for over 400 franchise units across our portfolio. Some of those locations are under construction or have already been opened and others are committed over the coming years. In every case, we have worked hard to ensure that the franchise candidates are qualified and committed to the success of the business. We are proud of every franchise brand we work with and we love watching them grow.
We are thrilled with what we have been able to accomplish during the first half of the year and excited about what the rest of 2013 has in store.Join our communities:
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