Avoiding a Franchisee’s Biggest Mistake – Commercial Real Estate
Article by Scott J. Simcik, Edited by Albert L. Harlow, Jr.
Scott Simcik, CFE
Securing the best location for your Franchise can be daunting. It use to be that you could just drive around and find a location easily. It use to be that the lease rate and terms were what they are. Today, if you operate like we did in the 2010s, you would do yourself an incredible disservice, and it will cost you a lot of unnecessary funds.
Everyone wants that “favorite” location. Yet many Franchisors have little to NO ability to control the standards, because they do not have a quality real estate system that is an accountability-based core process. Typically Franchisors simply unleash new franchisees into their local agency networks with little to no basic instructions on best-practices or franchising norms. They just let them go off and “find it fast and sign”.
While commercial real estate can be a franchise's biggest mistake, it can also be the biggest contribution to its success. Today when working inside the commercial real estate industry, there's technology available like never before. Plus if you have a practiced team on your side, with patience, are process-focus, and can maturely control the emotions of all parties involved, results ultimately providing a much greater chance of success that's assurred.
