Troy Franklin speaks about global franchise market

Are you running a successful business that you wish to franchise? Do you want to develop your franchise business internationally? Then you must be thinking about partnering with a professional to help you with this. Because connecting the investors with the right brands are key to a profitable expansion plan. This is where World Franchise Associates can help you. Their experience and network with an expansive list of connections are valuable. COO – Troy Franklin speaks about global franchise market. Thus helping us discover how WFA has been an active and essential player.

1. How did you enter in the franchise business?

World Franchise Associates (WFA) is a leading international franchise sales, marketing, development, and advisory company. It is headquartered in London with international offices in strategic markets. WFA is owned and managed by a team of global franchise experts. With many years of combined franchise development and franchise marketing experience.

WFA was founded with the vision “To Be the Leading Global Franchise Marketing & Development Company”

2. What are the services that you provide to your clients?

WFA offers a variety of specialised franchise-related services including:

• International Franchise Marketing & Sales Program – This focuses on assisting franchisors from all sectors of the franchise industry with their international expansion. This is done by identifying qualified and capable country developers and master franchisees in target markets.
• Various Franchise Development Programs which deliver all the key elements required for a brand to successfully franchise its business.
• A Franchise Investor Advisory Program which assists companies and individuals with the acquisition of development rights for targeted brands.
• Governmental and Institutional Programs – This includes comprehensive advisory services relating to franchise eco-system development and SME growth.

3. What are the criteria that you look for in a franchise brand to be part of your clientele?

There are a number of criteria that we use in assessing a brands ability to successfully expand internationally using a franchise model. This criteria varies depending on the nature of the services. However, we see the following as the most important foundational criteria:

• Is the brand profitable
• Is the brand competitive
• Is the brand committed to expanding through franchising

4. What makes your organization different from your competitors?

We have global experience and global reach

5. What are the essential qualities that your clients look for in a franchisee?

This varies depending on the brand and the nature of the business. However, in general brands look for master franchisees and area developers who possess the following qualities:

• Type of Company – A strong marketing-oriented company. One willing to devote its management and marketing expertise to the development and promotion of the brand in their country.
• Competitive Position – A dominant competitive position in the country where the franchise rights are being granted.
• Financial Strength – An unallocated cash flow adequate to finance the projected development program. This includes the necessary banking relationships to obtain financing where needed.
• Real Estate Holdings – It can be considerable advantage for the franchisee to be the owner of a number of suitable sites. In addition to have experience in real estate acquisition and development.
• Attitude – The acquisition of the franchise rights must be considered as a serious, long term commitment.  This will require full support of the Franchisee’s human and financial resources. Therefore the franchise must be convinced that the franchise business has a growing role in the country’s economy. And that the brands IP and system is essential to the success of the business.
• Image of Franchisee – A franchisee should have a reputation for honesty and integrity in dealing with the public, suppliers and other institutions. This image is indispensable in dealing with landowners, purveyors, sub-franchise candidates etc.

6. How long does it take, in an average, for your franchisee to realize their investment?

This is a complicated question as it varies greatly from brand to brand and country to country. However, most of our clients are expanding internationally using a master franchise or area development model. This gives their franchisees the exclusive right to a country or territory. In addition, it provides a significant long-term opportunity as most franchise agreements of this type are for a minimum of 10 years with renewal options. Nevertheless, it also requires that the franchisees launch and scale the business to achieve maximum potential. This requires a significant commitment by the franchisee. This includes a financial commitment and a commitment to leading and managing a capable team.

7. What was the major challenge you faced in your career, and how did you overcome it?

Learning to work with different cultures and to manage long distance relationships with partners, clients, team members etc.

Transitioning from a global leadership position with a number of international brands to being a partner in WFA as a franchise services company. This was also a challenge in terms of the different nature of the relationships and how they are managed.

7.1. What is your best achievement?

I consider my best achievement to be the lifelong relationships and friendships I have built. With over  30+ years in international business development and franchising across more than 70 countries.

8. How does your business day start?

Typically I am travelling for more than half the year. But regardless if I am in the office or hotel my day starts with checking my calendar to determine what appointments I have. Thus making sure that those appointments get the attention they deserve. I don’t like people wasting my time and I also don’t like to waste people’s time. So I always make sure I am well prepared for my appointments to be they face-to-face meetings, video calls or phone calls.

Since our work involves long-distance communications with clients from many countries I tend to break my day into world time zones. For example, I may deal with Australian and Asia based clients at a certain time of day followed by the Indian subcontinent. Later, moving on to the Middle East, Europe and North America.

I also try to keep up with what is going on in the world of global franchising. For instance, I try to keep learning and improving incrementally via research. In addition to reading, attending seminars and networking events.

9. What was your best moment throughout your franchise career?

Too many to count and I am still on the journey. But visiting so many amazing places and meeting so many wonderful people has been very rewarding.

10. Where do you see your brand in the next 5 years?

WFA will continue to grow and expand in terms of new services and new clients.  In addition, via innovation and the capitalisation on new technology. This is also done by building stronger relationships with existing partners and stakeholders. And new relationships with associates in countries where we have determined we want to be more active.

11. Any tips you want to impart to our readers who want to be in the franchise industry?

My tip to an investor looking to buy a franchise would be to identify a brand that is the right fit both in terms of the head and the heart. As you need to use both to build a franchise business.

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