The Wealthy Franchise believes a franchise system must continue to grow even after it has successfully expanded.
This is called growth franchise inflation.
There are two basic driving forces behind franchise inflation:
- Franchisees want to join a winning company.
A winner in the franchise industry grows and innovates.
- There is a limited supply in Canada (and elsewhere) of middle and upper management executives with significant franchise experience. Experienced franchise executives are highly paid and in demand.Such executive talent will eventually jump ship if franchise system growth stalls, thereby exacerbating the franchisors management situation. Equally, it is difficult to attract qualified franchise executives to a franchise system that has stopped growing.
As such, a franchise system that is stalled in its growth or that takes too long to get to critical mass will almost always begin to decay.
Please contact us at The Wealthy Franchise.
We provide the tools and expertise to expand your franchise across the province,
across the country or across the continent.