The route a newly established franchiser usually takes when seeking outside advice is to hire an expensive consultant.
Franchise Foundry is a consultant, but it doesn’t charge fees.
Instead, the Orem-based firm creates a joint venture with the franchiser. Franchise Foundry invests money, takes a minority stake and works as a partner to develop the strategy to grow the franchiser’s business.
“When we make an investment…, which we do in most cases, we help them with legal compliance, we help them prepare franchise agreements and then we also help with marketing and sales of franchise opportunities,” Christian Faulconer said.
Faulconer’s company is just 2 years old, but already has seven companies that it works with — some in Utah, a few in other parts of the U.S., and one in Canada.
“They are relatively new in franchising and have achieved a lot in a very short time,” said Paul Segreto, CEO of franchisEssentials, an online franchise-consulting site. Read full article.