Master Franchise

[Neo]

Has anyone here started a master franchise?
Was it what you expected in terms of time frame, costs involved vrs returns, marketing to potential franchisees?
Did you use a coach or fumble through the research and legals yourself.

Any thoughts/feedback would be appreciated

Neo

[SuperDad]

I don't know anything about this, but there might be a couple of people at the Hamilton PT BBQ next Tuesday who do Robyn Grinter and her husband Tony have been very successful business owners in Hamilton, and Dean has his own business (and may have some knowledge of franchising through his contact with Phil Jones of Richmastery). There may also be others who can halp.

It kicks off at 12 noon, if you are interested. If you are interested, let me know.

Paul.

[artemis]

Had a quick flick through a NZ book recently called My Dear Franchisees. It was a franchisor's view of the world. Rather lightweight but might be worth a look. Could probably get the gist of it in the bookshop, at least enough to see if it's worth buying.

[Neo]

Thank you both for your comments. Paul where are you holding the get together? Can you PM with the details please.

Neo

[muppet]

Hi Neo

When: Tuesday 24th April, 12 noon onwards
Where: 3 Bretton Tce, Hillcrest, Hamilton.

as requested.

Regards

[Taurean]

I know Graeme Fowler is in to franchising, (Mr Rentals). I don't think he has a master but could still be a good source of information.

[whitt]

Ron Hoy Fong is doing franchises I hear.

[RonHoyFong]

Ron on Franchising....

Hi Neo

This is rather a large answer needed here and one that would be needed to fit your specific situation. ie the type of business, wholesale, retail, networking, tangible, intangible goods, providing goods, labor, advisory, one off, repeat products, etc.

You can always start off by contacting the Franchises Association.

Westpac bank have a very good support service and infact sponsor the Franchise Expo.

The most expensive two items to have arranged is a Franchise Agreement to suite your business needs. Could be anything from $5k to $15k for a lawyer to draw up.
The next item although not strictly essential is a Franchisee Manual which outlines many of the rules laid out. This may cost something like $15k to $30k

A good book to read is one put out by MacDonalds... The Golden Arches????

You also have to indicate what sort of support you are providing to assist the success of the Franchisee.

I have at this point in time Franchised 6 of my 9 Retail shops to my managers (with another under negotiation. I actually had this planned out 2 to 3 years ago and taught my managers how to Profit From Properties. They are now reaping the rewards of their investments and have the affordability to leverage their IP's to invest in my Franchises.)
I am also using 3 mentoring consultants to see me through these stages. One for Business mentoring to a higher level of management, the second is a supermarket consultant to advise sales techniques use by the supermarkets, and the third who is a cashflow consultant to advise the best use of my turn-over to assist the expansion of my business and importing. The cost of the consultant is not a consideration given that I want longevity of the business well into my retirement days. (Hate to have something like "Bin Inns" which had 100+ stores only a few years ago today has fallen apart)

suggest you ring me direct or PM me for a cup of coffee over lunch perhaps.

Cheers Ron
(Business is my business)

[Kerry Christian]

Neo

Has anyone here started a master franchise?


I have sold Master franchises as I was the owner. also my Franchise business became a major NZ brand - I owned "Bill and Ben's" - Living Earth bought this off me in 2001

If you need an ear I will offer some time - FOC

I do not know what you are buying but there are different rules for different industries

[Neo]

Thank you everone for your posts, I will be in contact via pm with some of you.
We are at present using a franchise coach mainly because if we want to be successful it is important for us to use other peoples knowledge and guidance to get us to where we want to be.
I do feel like a small fish in the big blue sea at the moment, but I am growing everday.
Whether our idea works or not (we will have a stronger idea once the feasibility study is complete) this process is giving us more knowledge and understanding of the whole process.
Nothing ventured nothing gained!

Thank you again

Neo