Franchise Consultant for Start-Up and Established Franchisors
at iFranchise Group
Entrepreneur Leadership Network® VIP
Mark Siebert is the author of The Franchisee Handbook (Entrepreneur Press, 2019) and the CEO of the iFranchise Group, a franchise consulting organization since 1998. He is an expert in evaluating company franchisability, structuring franchise offerings, and developing franchise programs domestically and internationally. Siebert has personally assisted more than 30 Fortune 2000 companies and more that 500 startup franchisors. His book Franchise Your Business: The Guide to Employing the Greatest Growth Strategy Ever (Entrepreneur Press, 2016) is also available at all book retailers.
I'm a franchise consultant, and all the most successful entrepreneurs I've ever worked with understood that a business is ultimately just a Money Machine.
There's a time and place for taking your franchise concept to international markets, but it requires extensive due diligence on the part of the franchisor, leveraging advisers who have international expertise, and a thoroughly documented game plan.
It's no longer a question of if or when to implement artificial intelligence in training, recruiting and marketing programs, but rather what it has already cost you if you haven't.
There are some important clues you can track down before deciding if owning a given franchise location will give you the financial payout you're hoping for.
Economic slowdowns have actually proven to be historically good for franchise companies, but it's more vital than ever for them to regroup, redirect and recommit to their brands in order to effectively attract buyers.
After months of forced closures and record-high unemployment, the U.S. is ready for an economic recovery - and the franchise industry is uniquely positioned to lead the charge.