March 5, 2021 – In a world so impacted by a pandemic, it’s easy to assume that business slows to a halt. Not franchising. The effects of 2020 on the world were great but looking at them through the lens of franchising, they amount to a perfect storm for the right businesses. Analyzing the impacts of COVID, it is easily understood that vacancy rates in the commercial real estate space are high due to the unfortunate closure of many businesses. It’s also understood that unemployment rates of corporate America executives are extremely high. Finally, access to capital has never been more readily available to businesspeople and at historically low interest rates. Tie these things together and find a world of opportunities for franchisees and franchisors alike. This is supported by history as after every economic downturn, an immediate jump in franchising occurs.
Frank Baeli, an independent consultant in the franchise industry, has tested his theory on the opportunity with a client in the mobile food truck space, DonutNV. DonutNV is a mobile food truck franchise concept offering hot mini donuts and fresh-squeezed lemonades. Highly affordable in the franchise world with an initial investment under $100,000 and desirable to budding entrepreneurs as it requires no brick-and-mortar leasehold.
When Baeli met Alex and Amanda Gingold, Co-Founders, it was evident that the brand had every right to grow but lacked some of the necessary structure to help a prospective franchisee understand just how amazing of an opportunity a DonutNV franchise really is. Over a two-month engagement in November and December of 2020, Baeli helped the brand to completely retool its’ franchise development process and connected them with a fellow franchise industry expert to educate prospective franchisees on their franchise opportunity. With Baeli’s consultative guidance, the investment that DonutNV made in their brand yielded them commitment by a new franchisee to operate the first DonutNV mobile franchise in Florida roughly two months after implementing a new sales system.
For aspiring franchisors or emerging franchisors in a similar situation as DonutNV, the biggest takeaway of this sales success story is rather concise. Franchisee candidates must experience a systematic and educational process where they learn about a brand over a four to six week period. Franchising is complex, and for most franchisees, the most significant financial investment one will make in a lifetime. An educational and supportive sales process is paramount to effectively growing any franchise brand.
For aspiring franchisees and business owners alike, allow this story to serve as inspiration. Business opportunities will continue to present themselves throughout 2021 and beyond. Those with an entrepreneurial spirit should investigate different franchise opportunities, including DonutNV.
About Frank Baeli
Frank Baeli is an independent consultant in the franchise industry focused on helping new and emerging brands grow with strategic advisory and experience. Baeli works to understand the needs of each client, franchisor or franchisee alike, and offers solutions that enable their growth. Working with an experienced franchise consultant ensures you’re matched with the appropriate brand or solution.