Developing a business plan to help the company grow and achieve its goals
Evaluating potential locations for new stores based on market demand and competition from existing businesses
Ensuring that all employees receive adequate training on company policies and procedures
Identifying new opportunities for expanding into new markets or products
Leading negotiations with landlords on terms of lease agreements for new stores
Analyzing data to identify new opportunities for growth within existing markets
Monitoring competitor activity in the market and making adjustments to marketing campaigns as needed
Developing strategic plans to help existing stores improve performance
Managing the overall operations of a franchise operation to ensure that it is running smoothly
Franchise Development Manager Salary & Outlook
Franchise development managers’ salaries vary depending on their level of education, years of experience, and the size and industry of the company. They may also earn additional compensation in the form of commissions and bonuses.Median Annual Salary: $82,500 ($39.66/hour)
Top 10% Annual Salary: $125,000 ($60.1/hour)
The employment of franchise development managers is expected to grow at an average rate over the next decade.As more people become interested in owning their own business, the demand for these managers will increase. However, the growth rate will be tempered by the increasing popularity of online platforms that allow entrepreneurs to research and evaluate franchising opportunities on their own.Franchise Development Manager Job Requirements
A franchise development manager typically needs the following qualifications: Education: Most franchise development managers have at least a bachelor’s degree. Some of the most common majors for franchise development managers are business, marketing and communications.Training & Experience: Franchise development managers typically receive on-the-job training. This training may include learning about the company’s products and services, the company’s business model and the company’s marketing strategies. The training may also include learning about the company’s computer systems and software.Franchise development managers may also receive training in the form of seminars and conferences. These conferences can help franchise development managers learn about trends in the industry and about new marketing strategies.Certifications & Licenses: Certifications enable professionals to improve their skills and demonstrate their qualifications to prospective employers. Franchise development managers can earn certifications to gain more theoretical knowledge of their responsibilities, test their professional skills and further advance their career.Franchise Development Manager Skills
Franchise development managers need the following skills in order to be successful: Marketing skills: A franchise development manager oversees the marketing of a franchise and its products. This includes creating advertisements, planning marketing campaigns and analyzing the success of marketing efforts. A franchise development manager with marketing skills can create effective marketing strategies and campaigns that help a franchise grow.Business development skills: Business development skills are the ability to identify and pursue new business opportunities. This can include identifying potential clients, researching their needs and creating a strategy to meet those needs. It can also include identifying new revenue streams, such as by creating new products or services.Communication skills: Communication skills are essential for a franchise development manager. You might be responsible for communicating with potential franchisees, franchise owners, suppliers and other members of your team. Effective communication can help you build trust and maintain positive relationships with others in your organization. You might also use communication skills to create marketing materials, conduct interviews and write reports.