Dr.Edith B Steiner built her foundation on vast experience with different franchise brands. She has been a franchise consultant for many years. She is the CEO of Growentas and Franchise International Expert. Some of the other brands are Floral Image, Chuty’s and Bioresona. In this interview we throw some light on the insights from Dr.Edith B Steiner’s franchise experience.
1. How did you enter in the franchise business?
My entrance was purely accidental, I started working as a Franchise Head Officer & Franchise Manager at wellness weight loss company from Italy.
Due many franchisees I learned very quickly, how demanding it can be to work with franchisees and their employees. Therefore, I took many seminars at different franchise organisation and institutions in EU and USA (especially, International Franchise Association).
2. What are the services that you provide to your clients?
As a Franchise expert, we offer:
- set up and development of franchise or license business model (beginning as a young company or start-up)
- upgrade or advancement of franchise/ license BM
- changing the BM
- Franchise workshops
- Knowledge management
3. What are the criteria that you look for in a franchise brand to be part of your clientele?
First, we look for:
- unique business model providing long-term success in international markets.
- complexity of the business (transfer of intangible and tangible assets)
- owner or co-owners values, competences
- leadership style & openness
All the rest is being a process of business potential and using those by a company itself.
4. What makes your organization different from your competitors?
Our organisation has a definitive uniqueness in following matters:
- we give our team an opportunity to rise within a optimistic and supporting team.
- we defend trust among each other
As a franchise consulting company or company Growentas – I always try to see people giving people a wide range of possibilities in order to create sincere communication on the same level of personalities. Everyone is important and we count as a team.
5. What are the essential qualities that you look for in a franchisee?
Major qualities:
- competences (especially, in sales)
- experiences of leading the business unit
- openness to listen actively
6. How long does it take, on average, for your franchisee to realize their investment?
This aspect depends on a business model, local market potential and franchisee’s competences (financial, informational and managerial).
Usually, it takes some years, but mostly it is being decided by success of the business profitability. If we have a business with low margin and great number of competitors, then it is rather a long process.
7. What was the major challenge you faced in your career, and how did you overcome it?
The major challenge as a franchise consultant:
- when a client (a potential franchisor or licensor does not see their potential due to their interesting business concept)
- and when I as a franchise consultant propose a certain franchise or a licence business model, but the franchise candidate does not believe it would be an incredible match for them
And at this point, I cannot do anything to change that. As my ethics as a consultant does not allow me to do that. Although, I angrily want to change my client’s choice – but, it takes patience to be that kind of person… I strongly, want to be… Now, I dare to believe that I’m getting there…
7.1. What is your best achievement?
My best achievement:
- getting my client’s potential to highest peak of business achievement
- giving franchisees their way of realizing their potential and supporting them on their way to it.
8. How does your business day start?
It starts with a cup of green tea and my look into the forest… Then, I have short discussion with my colleagues in office and my online team in Vienna. Then I start with creative stuff and keep on with them until 12:00, then I get into operational things that do not require creativity, as these things need execution.
But before all this happens, meditation with prayer! I love it
9. What was your best moment throughout your franchise career?
When a franchisor follows my guidelines on their way towards internationalisation and when they tell you that all this would not be possible without us.
10. Where do you see your brand in the next 5 years?
I see brands expanding their business with a creative approach – with a scope to be more future oriented.
This takes a lot of time, finance & courage. I believe these companies need to make room for innovative products & services as well as socially responsible company. This needs to be included too. My intuition tells me that if companies want gain clients and be successful in future, they have to pay attention to their values and their business model.
Personally, I think these future themes are getting to us with high speed and we better prepare ourselves for these new visions and values.
12. Any tip for the reader who wants to be in the franchise industry?
First of all:
- get your business into high profitability level
- franchise or license it
- invest and expand
Three steps, that take some years! Do try to choose a good supporting team and consultants so you are at least getting other views and not seeing and taking only yours… (this has been written with kindness and compassion)
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