Business Franchise Australia

Jetting into franchising success: a strategic guide to international travel

 

 

For those considering international opportunities in the franchising arena, the prospect of jetting off to meet with a franchisor can be both exciting and daunting. The questions that often arise are – when is international travel worth the investment in the franchise exploration process? Is there such a thing as too soon to hop on a plane and meet with your potential franchisor? Here, CEO of Stagecoach Performing Arts Andy Knights delves into the considerations and stages at which international travel can be a strategic move for prospective franchisees and franchisors alike.

 

 

The enquiry process

Before delving into any other considerations, it is essential to outline what your enquiry process may look like. Depending on the franchise opportunity and your goals and aspirations, this can look different for everybody. But no matter the endgame, wading into franchise exploration is a crucial stride to truly grasp what your investment entails. We have all heard the drumbeat of due diligence, but it is never more resounding than right before you sign on the dotted line.

 

It usually kicks off with initial inquiries, where you are scooping up essential intel about the brand, its success stories and the support systems on hand. As your relationship with the franchise evolves, the talks get more detail driven, with financial nuances, operational intricacies and the nitty-gritty of contractual agreements coming into play.

 

In a world where virtual meetings are becoming the norm, international travel may seem like an extravagant decision. But making that trip to meet your potential franchisor offers a front-row seat to the brand’s operations and a chance at forging a more personal connection. This face-to-face interaction goes beyond what virtual communication can achieve, fostering trust, understanding and a stronger foundation for a prosperous partnership. But where in the enquiry process should this in-person meeting fit in?

 

Stage one: initial enquiries

In these early innings, packing your bags for international travel might be a tad premature. This stage is where you can lay the first bricks for understanding the franchise, setting the stage for what is to come. Communication primarily takes the form of digital interactions, including emails, video calls and the perusal of written materials, establishing a foundational understanding of the franchise. This phase serves as a precursor to more substantial engagements. Keep your focus on the basics – the business model, franchise fees, training and what initial support systems are in play. No need to book a flight just yet.

 

Stage two: advanced discussions

As the dialogue progresses into more advanced discussions, including detailed financials, operational intricacies and the fine print of contractual terms, international travel begins to make sense. While, again, it is not essential to meet in person, advanced discussions are a good starting point on your journey to consider if this investment is worth the travel. If your initial enquiry and advanced discussions have proven successful, international travel is a tangible means to gain invaluable insights beyond the confines of virtual interactions. It can be the moment to shake hands with key personnel, get a feel for the brand in the flesh and truly immerse yourself in the franchise environment.

 

Stage three: validation

Here, the spotlight shifts to conversing with existing franchisees, visiting operational locations and absorbing the day-to-day business environment. In this leg of the journey, international travel takes centre stage. It is the moment for prospective franchisees to witness the brand in full swing, take a first-hand look at the market dynamics and cultivate relationships with existing franchisees. It is the point where you gauge if this opportunity aligns with your aspirations and, equally important, it is the time for the franchisor to ensure that you are the right match for their brand.

 

 

 

 

Is there such a thing as too soon?

The apprehension around jetting off to meet a potential franchisor is entirely understandable, especially considering time, money and logistics factors. It is a decision that demands careful consideration.

 

While assessing the appropriate timing for international travel is undoubtedly crucial, there is a delicate balance to be struck. Boarding that plane too soon may not yield substantial insights if you are still in the foundational stages of gathering essential information. On the flip side, delaying a visit for too long might inadvertently impede the decision-making process, potentially hindering the establishment of a robust franchisee-franchisor relationship.

 

For us at Stagecoach, travelling to meet with prospects ensures that we recruit franchisees who understand and embody our ethos of inspiring children through quality performing arts. These visits become a litmus test, allowing us to align with individuals who share our mission and contribute to fulfilling our collective vision.

 

By finding the right balance and evaluating your progress based on these stages, franchisees and franchisors can turn international travel into a valuable investment that enhances their understanding of the franchise opportunity and sets the stage for a successful partnership.

 

To find out more about franchise opportunities with Stagecoach Performing Arts, visit www.stagecoachfranchise.com