While my services vary by client, the first thing I do for every client, every time is to LISTEN. Each situation is a little different and there's no formula that will work for everybody. In general, I like to work with three types of clients: Start-up companies, small ($1M to $20M) established businesses (or turnaround opportunities) and franchises.
In start-up companies, my goal is to give my clients the benefit of my experiences, help them through the start-up process and save them time and money. I generally do this in three steps:
-Feasibility
-Financing
-Operations
The client can "stop" at any point along this continuum. If it's not feasible, there's no sense in financing it. If it can't be financed, you sure can't operate it. I won't milk a consulting contract. My goal is to give you more value than you pay for. My dad told me that's the right thing to do.
With established businesses, the prongs look a bit different:
-Assessment
-Planning
-Implementation
It's cliche, but true: "Most entrepreneurs are so busy working in their business that they fail to work on their business". I can give you an objective assessment and an actionable plan. If I don't think I can help you, I'll tell you that BEFORE you spend a dime.
Much of my career has been spent in the world of franchising. Although not for everybody, franchising can be a great way to expand a brand (or, from the franchisees perspective, tap into an established brand). I have experienced the franchising relationship from both sides. Again, my approach is not cookie cutter and I implore you to beware of franchise consultants who take that approach.
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Why would I want to hire you?
First of all, I'm a pretty nice guy and fun to work with. Beyond that, I can save you money by helping you manage the various disciplines that make up "business". If I can't save you money and make your life a little easier, don't hire me. Conversely, if I don't think I can help you, I won't allow you to hire me.
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How much will this cost?
I'll do my best not to dodge this question by saying "it varies". Our first meeting is free. After that (and if we have a fit), I'll write you a proposal so you'll know exactly how much you will be spending for my services. GENERALLY, I can get the Feasibility or Assessment phase done in twenty hours or less and I charge $2500 for this service. Planning or Financial Packaging takes another twenty hours or so with the same fee structure (an additional $2500). In more complex situations, I will offer a flat fee and an hourly rate ($150/hour) if we exceed the proposal guideline. Frankly, I try not to do this and I'll tell you in advance if I think we will exceed the twenty hours. You will have other professional fees (attorney, accountant, etc.) in this phase. I will do my best to help you manage/minimize these. In these cases and in the case of franchise clients, I'm going to have to say, "It varies". Sorry.
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How will you work with my professional advisors?
I'm not an attorney or an accountant and I don't play one on TV (if you're under 50, you may not get that joke). The advice of these professionals is needed and valuable. I find that most entrepreneurs don't know HOW to use these advisors. There is much work that can be done before you consult with these professionals. The "pre-professional" work will save you money and save them time and aggravation.
How do I know if my business can be franchised?
Here are a few questions to answer:
1. Is my concept proven beyond a single location?
2. Is my concept (fairly) easily duplicated?
3. Do I have a brand?
4. Can I protect the brand (intellectual property)?
5. Do I have proven systems in place?
6. Do I have the inclination to allow others to "borrow" my brand?
7. Do I have the patience to thoroughly document my operating systems?
8. Am I willing to spend the time and money to do it (franchising) right?
If you answered yes to most or all of these questions, we need to talk!
