Franchise Beacon, LLC

BACKGROUND

Introduce your business and what you do there.

I’m co-owner and chief marketing officer of Building Kidz Worldwide, a franchisor of preschoolers.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Franchise Beacon?

We wanted to transition from company-owned preschools to a franchise model. However, we had knowledge gaps about that process. We hired them to leverage their expertise.

SOLUTION

What was the scope of their involvement?

Franchise Beacon guided us through the initial startup phase, including financial and investment strategies. Consulting has focused on direct sales and running the franchise system. Leads have come through various portals, broker networks, and our own website. They process each one – arranging sales calls – within a 12-hour timeframe and collaborate on the executions. We also retained a third-party franchise lawyer through their team.

What is the team composition?

I work directly with two people, including the owner, who does consulting. The other person focuses on sales.

How did you come to work with Franchise Beacon?

The owner and I met at an industry event in 2015. That encounter led to a series of conversations, which highlighted our knowledge gaps. For example, I didn’t appreciate disclosure documents’ significance. The relationship started in June 2015 when they visited our office at their own expense. Although we did discovery phases with other vendors, Franchise Beacon was the first consulting firm we hired.

How much have you invested with them?

We pay via a monthly retainer and success-based bonuses.

What is the status of this engagement?

Work started in October 2015 and is ongoing.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Their expertise contributed to our phenomenal growth rate. We’ve sold 30 franchise units and expect to open at least seven more this year. We’ve gotten great feedback from industry peers. As a result of Franchise Beacon’s services, external stakeholders have praised our company as exceptionally professional.

How did Franchise Beacon perform from a project management standpoint?

They’ve never missed a deadline. As an experienced manager, I know Franchise Beacon is uniquely committed to our success. They always put us first, particularly the owner, who maintained communication during a family emergency; he’s phenomenal.

What did you find most impressive about them?

Their expertise and services exceeded our needs. The owner could have handled everything – from sales to onboarding – by himself. Our results reflect the team’s devotion to clients.

Are there any areas they could improve?

Absolutely not. It's an honor to work with them.

Do you have any advice for potential customers?

Reach out and be transparent. Tell him everything is going on though. They’ll work to achieve quality customized solutions.

BACKGROUND

Introduce your business and what you do there.

I’m the president and one of the founders of a financial franchising business called Liquid Capital Corp. We provide our franchisees with back-office services and training, assisting them with underwriting to fund their ventures until they stabilize.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Franchise Beacon, LLC?

Although we had a strong background in the business, we didn’t have a strong background in franchising. As we began launching franchises in the U.S., we had issues with previous sellers promising franchisees a more unrealistic income than what they could earn in the early stages. As a result, we needed someone to help us restructure and sell franchises for us.

SOLUTION

What was the scope of their involvement?

They collaborated with us to redo our disclosure document, conceptualizing new concepts to promote our franchises. We adopted their sales process, which involved conducting introduction calls and webinars to prospective buyers. We also presented numerous franchise shows together, where we met in person to discuss additional sales tactics. While the majority of their work comprised of selling franchises, they also provided necessary consultancy, coordinating with our external marketing company to create presentations and make adjustments to our website.

What is the team composition?

We worked primarily with their owner, who had a sales team to assist him.

How did you come to work with Franchise Beacon, LLC?

It was a big decision for us to choose an agency that would sell our franchises because they would need to represent us in the community. Our franchise law firm and another stakeholder referred four companies to us, including Franchise Beacon. We narrowed the candidates to two agencies and performed reference checks. In their first online interview, we were impressed by their presentation explaining their business concept and how they operated. Once we spoke with their current and past clients, we decided to go with them.

What is the status of this engagement?

Work lasted from January 2014–March 2018.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

They became our sales arm, successfully selling an impressive amount of franchises. They’re remarkably competent and achieved their sales ethically in accordance with our company standards.

One of their strongest qualities is the ability to steer a franchisee in the right direction and gain their trust. When a potential buyer considers a franchise, they look at 10 franchises and narrow them down to two or three. Franchise Beacon has the patience to actively listen to the buyer to build their confidence in our company, which proved paramount in closing the sale.

In terms of consulting, they exceeded our expectations. They offered strong insights into developing dynamic sales strategies. They also collaborated with our clients to write comprehensible disclosure documents that were easy to read.

How did Franchise Beacon, LLC perform from a project management standpoint?

They generally kept ahead of schedule, completing tasks in a timely manner. We communicated via phone nearly every day. Whenever we encountered an issue, we discussed it to determine how to best move forward.

What did you find most impressive about them?

We appreciated their availability and interpersonal skills when addressing franchisees. Even unsuccessful franchisees would say that Franchise Beacon informed them of the process and the risks. Their honesty, sales skills, and ability to interact with people were their greatest assets.