Paul Flick Discusses Franchising Initiatives

(Newswire.net — April 4, 2017) Charlottesville, VA –Around the world, franchises are upending traditional business models. Successful entrepreneur and franchising expert Paul Flick knows that for smaller businesses, franchising represents an opportunity for incredible growth. Businesses that enjoy strong local sales may wish to establish a bigger presence in the region or on a national scale. By franchising their business model, those companies may be able to create economies of scale that single-location business ventures cannot achieve, boosting brand awareness and revenue at the same time. “Franchising a business concept can mean tremendous growth in a very short time,” says Paul. “However, it is critical that businesses wishing to franchise their companies understand that the operation is completely different from delivering a product or service.” To learn more about the basics of franchise development, visit https://www.forbes.com/sites/marciaturner/2017/02/28/is-now-the-right-time-to-franchise-your-business-concept/#222b5e3f1439.

 

Small business owners need to understand that a specialized business unit needs to be created to get franchising off the ground. The goal changes from selling a specific service to one of sales of the company’s business concept; this separate unit manages the sale of franchise outlets to new partners. A franchisor’s role is to provide guidance and support for franchising partners along with assistance in securing a business location, accessing ordering systems, and use of the company’s marketing materials. “Entering the world of selling franchise opportunities can be daunting, but can pay off handsomely,” says Paul. “If sales volume is high, but there is no real opportunity for growth at a single location, the concept of franchising makes sound financial sense.” Some signs that franchising may be the right option, come from demand from regions outside the home base of the company and interest from potential franchisees even before the initiative has begun.

 

For the franchisor, there are several avenues of revenue unavailable to single-location operations. Franchisees often have to pay sales commissions, and many franchisors also charge advertising fees which serves to support further growth of the business concept. The more franchise locations and the bigger the advertising budget, the greater the chance for organic sales growth. Paul Flick has experienced incredible growth in the franchising business ventures he has established over the past 20 years. As the CEO of Premium Service Brands, he has built several home service businesses into global franchise opportunities totaling over $40 million in annual sales. “Setting up a franchise can be filled with regulatory hurdles and challenges,” adds Paul. “While there are other strategies for regional, national, or global expansion, franchising remains a time-honored concept that many small businesses can leverage for growth. For more information on Paul and his career as an entrepreneur and franchisor, visit https://newswire.net/newsroom/pr/00095598-paul-flick-franchise-sector-trends.html.