By The Price of Business (1110 AM KTEK, Houston, TX is the sister radio program of US Daily Review and is Hosted by USDR Publisher and Managing Editor, Kevin Price). These are interviews Kevin Price had with his contributors and guests. *Sponsored
About the interviewee
Don Boroian is Chairman/CEO of Francorp, a 38 year old Franchise Consulting firm, based in Chicago with offices in 27 countries. Francorp Inc. has worked with many of the world’s largest franchise organizations. Don Boroian has worked with franchise companies in developing their franchise structure, legal planning and sales assistance for over 55 years.
Tell me about your firm (number of employees,
Francorp is headquartered in Chicago, with offices in 27 countries, employing over 200 people. Francorp’s clients range from very small mom and pop startups to the largest in the franchise industry, including McDonalds, KFC, ACE Hardware, Jimmy Johns, every major oil company and most hotel chains.
What type and size of companies do you have as clients?
Francorp’s clients represent literally every type of business…food, service businesses, automotive, hotels, banks, personal services, healthcare, retail, medical, fashion, travel….literally everything!
What is going on in the franchise industry today?
The franchise industry is booming. Many people who were laid off or whose companies went out of business during the downturn in the economy are buying franchises in record numbers. Also, many small businesses, as well as larger businesses, are turning to franchising to expand because business loans are so hard to get in this economy.
What are the best practices when it comes to this topic?
The companies that have the best chance to succeed in franchising are those with a good concept, particularly in fragmented industries, where there are not one or two companies that dominate the market. They must have a good system of operation that is adaptable nationally and that can be taught to a franchise buyer within a few months.
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