In his new book, ‘The Franchise Business Journey… Start – Build Value – Sell’ Chris Roberts, former financier, business trainer and a key figure in the UK franchise sector, quickly gets to the heart of the matter, bringing together his extensive know-how, which also includes training and consultancy experience amassed over the last 20 years.
Packed with practical advice and insights covering a wide range of topics that are key for any franchisee, Roberts lays out what you need to consider – ranging from non-financial subjects, such as time management, marketing, customer service, and staff appraisals, through to financial topics, including understanding accounts, preparing financial projections and valuing a business.
Underpinning this book though is the so-called Value Growth Business Model, a concept Roberts has developed to help franchisees focus on long-term business value, rather than just immediate profits. This enables them to ultimately have sufficient funds to accomplish their own personal goals and the vision of this becomes a great motivator.
Roberts also describes his model as a framework designed to achieve a core strategic objective, namely setting an exit target value for a franchise business after a specified period.
Breaking it down there are four supporting business objectives: Financial Focus, Operational and Staffing Focus, Customer Focus and Business Development Focus. Combined these will cover the crucial areas involved in running almost any business. And as Roberts himself puts it: “You can’t just concentrate on the bits you know or like!”
The model incorporates a business plan framework as well as regular business evaluations. Roberts likens these to a ‘Business Satnav’ and regular ‘MOTs’ to guide franchisees through their journey, ensuring they stay on course in terms of meeting their goals. The model is also adaptable to almost any franchise type or brand, aligning seamlessly with franchisors’ rules and guidelines.
While the book is primarily aimed at prospective and current franchisees, Roberts says it will also help franchisors as they can use it to complement their existing training programmes, help train their own staff and motivate their franchisees.
To learn more or to buy a copy or copies, visit The Franchise Business Journey website. The author meanwhile can be contacted via email.
