Just before he walked off into the sunset of a well-earned retirement, franchise finance and business planning expert Chris Roberts wrote a book that offers a complete guide to finance and more. Here he tells us all about it…
Chris Roberts, former financier, business trainer and a key figure in the franchise sector has written a book – The Franchise Business Journey… Start – Build Value – Sell.
The book is pitched as a comprehensive guide for franchisees, detailing the key steps of the franchise journey from inception to exit, with a unique focus on building business value.
But it is more than just a guide on how to start and grow a franchise. It is (he says) a detailed roadmap for franchisees who want to maximise the value of their business.
Roberts explains “The book shifts the emphasis away from solely growing turnover and profits, to include building the value of the business. It shows how, apart from producing a good and increasing income, you can create a good level of capital growth.”
The value growth business model
At the heart of it is the “Value Growth Business Model”, a concept he developed to help franchisees focus on long-term business value rather than just immediate profits. According to Roberts, the model is adaptable to almost any franchise type or brand, aligning seamlessly with franchisors’ rules and guidelines.
He describes it as a framework designed to achieve a core strategic objective: setting an exit target value for a franchise business after a specified period.
He explains:“It suggests working backwards from a Core Strategic SMART Business Objective, which is to create an exit target value at the end of a specific number of years trading.”
To achieve this, Roberts outlines the framework for four supporting SMART business objectives giving: Financial Focus, Operational and Staffing Focus, Customer Focus, and Business Development Focus. These objectives, he emphasises, cover the crucial areas in running almost any business. “You can’t just concentrate on the bits you know or like!” he says.
The model also incorporates a business plan framework and regular business evaluations, which Roberts likens to a “Business Satnav” and regular “MOTs“ to guide franchisees through their journey, ensuring they stay on course to meet their goals.
The book is packed with practical advice and insights covering a wide range of topics that are key for any franchisee. From non-financial subjects like time management, marketing, customer service, and staff appraisals to financial topics such as understanding accounts, preparing financial projections and valuing a business, the book offers a thorough understanding of what it takes to succeed in franchising.
“Readers will find practical hints and tips provided throughout the book’s 200+ pages,” says Roberts, emphasising the breadth of knowledge he shares, including how to raise startup and growth stage finance, use accounting ratios to monitor progress, and understand the nuances of the business resale process.
Planning an exit strategy
While primarily aimed at prospective and current franchisees, Roberts believes the book also serves franchisors well.
“The subject matter covered will be useful to prospective franchisees who are looking to start a business, existing franchisees who are in or about to start their ‘growth stage’, and of course, those who are preparing to exit,” he says.
Franchisors can use the book to better train and develop their franchisees, complementing their existing training programs.
Roberts’ own journey in franchising began after leaving the banking sector in 2000 to set up a business consultancy.
“A few years later, seeing the opportunities that were emerging in UK Franchising, I started to specialise in this sector,” he recalls.
This specialisation led to the creation of Franchise Finance Ltd, a company that became the UK’s leading provider of brokered finance, business planning, and training in the franchise sector.
Roberts’ experience is extensive, having trained franchisors and franchisees, raised a £50m fund for lending in the sector, and eventually, together with his business partner, selling his company to Hitachi Capital in 2018.
Even in semi-retirement, Roberts remained active in the industry, contributing to various ventures, including Chantry Group and NGI Finance. He also co-launched a new training and consultancy company, Franchise Business Training and Consultancy Limited, which is now an active contributor to the sector.
By the end of 2023, however, Roberts had decided to retire for good. But not before he wrote the book.
“I wanted to pull everything I had done together in a book to help franchisees look at business in a slightly different way and as a focused journey,” he explains.
Now in retirement, Roberts says he is looking forward to spending more time with his family and travelling with his wife. But his passion for franchising hasn’t waned. He plans to promote the book and is open to speaking at franchisor and industry conferences.
“I’m happy to do some franchise network and industry conferences and presentations talking about the Value Growth Business Model and helping franchisees to make their dreams come true!”
Chris Roberts’ book, The Franchise Business Journey… Start – Build Value – Sell, is out on August 27th. To learn more or to buy a copy, visit www.thefranchisebusinessjourney.co.uk.
