Welcome to our celebrated program entitled « Profit Mastery » used by more than 50 franchise groups in the United States, Australia and Canada.
The purpose of our program
“If our stores are not making above average profits, then nothing else matters; on the other hand, if franchisee profits are growing, anything and everything is possible.”
a quote from Sid Feltenstein, Chairman of Yorkshire Global Restaurants
The purpose of this program is to assist your franchisees in measuring and managing both profits and cash flow. We also seek to assist you in building a team of Franchise Business Consultants who really become “trusted advisors” in the eyes of the franchisees they serve.
« Profit Mastery » has several components:
- Education: provides the foundation
Through our internationally renowned financial training workshop, Managing and Financing Independent Business, your members leave with a new understanding of their financial picture and the confidence to improve it. Offered to your field consultants or franchise support managers, this program will strengthen their advisory skills.
- Benchmark Studies: establishes the yardstick to measure performance.
Information previously agreed upon is collected and sorted to produce a Group report and Individual Company Consulting Reports for each participant. These reports identify the best practices of the profit leaders and produce a narrative analysis that incorporates the basis of an action plan to improve performance for each of the participants.
- Performance Groups: provide the discipline and the continuity.
An effective follow-up strategy, and often reported as the most liked by participants, are our « Profit Mastery » Performance Groups: owners and managers who meet on a regular basis to share financial, operational and planning information (how they can do better with what they have). Often licensed by franchise groups, and run by the field consultants, these Performance Groups can become part of your network’s standard operating procedures.