Growth Strategies: Independent growth versus franchised
New and emerging restaurant concepts that currently operate as independents will have the chance to make strategic decisions about their future growth at the National Franchise Institute’s new Growth Strategies program.
The two-day program, which will take place in Denver on January 25-26, 2016, walks restauranteurs through the pros and cons of continuing to grow as an independent and then applies the same pros/cons approach to growth as a franchise model.
“There are a lot of similarities between growing as an independent versus growing as a franchised concept,” says Carolyn Miller, founder of the National Franchise Institute, “yet the differences are very distinct and the early-stage decisions you make can have long-lasting and far-reaching consequences.”
Together with a team of licensed attorneys, accounting and tax professionals, and other licensed business and franchise experts, the Institute’s Growth Strategies program presents unbiased, fact-based information so restauranteurs are able to make the best growth decision for the concept they have created, the stage they are currently in, and the growth projections they have identified for their brand.
“After explaining the differences between both options, we switch gears and provide details about the similarities so a personalized roadmap for each restaurant concept begins to take shape, regardless of which direction its founder chooses,” says Miller. “We understand how important growth decisions are for restaurants. Our programs encourage restaurant founders to pose ‘what if’ scenarios and ask devil’s advocate questions so they know what to do and why, or, equally as important, what not to do.”
Growth Strategies topics include:
- Corporate structure
- Tax advantages/disadvantages
- Business law, franchise law, trademark & copyright law
- Business plans
- Operations and training manuals
- Development timelines and budgets
- Insurance strategies
- Funding options
- Evaluating growth strategies (local, regional, national, international)
“Creating a new restaurant concept is very exciting,” Miller concluded. “Growing it successfully is the icing on the cake.”
Registration/Event Link: http://www.nationalfranchiseinstitute.com/events/
Headquartered in Denver, Colorado, the National Franchise Institute provides education for entrepreneurs who are currently in or are considering entry into franchising as either a franchisee or a franchisor. The Institute was founded by Carolyn Miller, a development professional who has been working in the franchise industry since 1984 with national brands such as McDonald’s, Chipotle, Red Robin, CiCi’s Pizza and Carls, Jr./Hardees.
The Institute’s flagship program, Essential Competencies, educates restaurant and other brick and mortar concepts about the intricacies of leasing and building new locations to grow their brands. All programs through the Institute are taught by licensed attorneys, CPAs, and other franchise and business professionals.