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.
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”
WFA offers a variety of specialised franchise-related services including:
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:
We have global experience and global reach
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:
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.
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.
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.
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.
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.
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.
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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