When franchise companies explore taking their franchise systems global, many questions arise. One immediate question surrounds what resources exist that can be utilized for assistance and determining market selection and next steps. Another question is likely, "Where do I find credible prospects and targets?"
Countless questions will be faced by franchisors and their development teams, and a first step in this process should be acquainting your team with the Global Franchising Team of the U.S. Commercial Service. This is an important first step since 95 percent of the world's consumers live outside the U.S., and 92 percent of the global economic growth will come from outside U.S. borders.
The U.S. Commercial Service division provides economic development and strategic business development expertise in franchising as a business model across industries. The Global Franchising Team is at the crux of assistance most franchisors require, and we provide an expansive footprint of domestic and international staff. The team comprises international trade specialists domestically, or account managers, to facilitate introductions, uncover research and information requests, and provide strategic direction.
Account managers are assigned to franchisors to determine their needs and guide the process with our staff, located in more than 75 countries, and into a wider region of locations through our U.S. State Department partner posts. We work with franchisors in almost every country around the world. Our staff is committed to learning the intricacies of the franchise space, and the team is expanding in knowledge with many starting to work on ICFE status. Both our domestic and international colleagues are always on the search for connections for prospecting and deals.
Many franchisors contact our organization after making the decision to export their brand and systems, or after having expanded in a few countries. Once brands begin the expansion process and have contacted any number of service providers or advisors, or the International Franchise Association, franchisors generally find their way to the Global Franchising Team. The team will explore with clients any existing leads and unique needs and spend appropriate time to learn the operation in terms of set-up, core offerings, success factors, and growth needs. The domestic team should be considered part of your brand ambassadors and should be able to articulate value...