Tag Archives: due diligence

The Franchise Support Network and Its Limitations

Longtime New Jersey attorney Thomas Foley is principal with Navitas Concepts, LLC/The Indigo Group, LLC, in New York. Thomas Foley additionally leads a Dallas office that offers a host of strategic business advisory solutions and has facilitated the purchase six north Texas fast-food establishments that are current franchise restaurants.

The process of becoming a franchisee requires due diligence, interviews, training, and gaining general familiarity with the way in which the franchise operates. While a franchise does not ensure business success, it provides the entrepreneur with a host of tools, including a tested support network and an established business model. Franchisees also benefit from regional and national advertising campaigns, as well as access to peers who have learned what works and what does not work through trial and error.

Ultimately, the entrepreneur needs to “bridge the gap” in customizing the provided model to specific local marketing and operational requirements. This requires creating a distinct system of mentoring, training, and evaluating employees and managers. It also involves listening to customers and setting in place best practices that ensure their continued satisfaction and patronage. Indigo group can be a strategic partner in bridging the gap.