1851 Franchise recently caught up with Schram to discuss his thoughts on franchising and the process behind it.
With more than 70 locations across the globe, Buffalo Wings & Rings is one of the up-and-coming franchises in the sports restaurant industry.
The brand differentiates itself by offering elevated food and experiences that are accessible and affordable to all customers.
Buffalo Wings & Rings continues to grow in the franchise world through excellent marketing and brand identity. Philip Schram, Chief Development Officer for BWR, is a big reason why the franchise is on its current upward trajectory.
1851 Franchise recently caught up with Schram to discuss his thoughts on franchising and the process behind it.
1851 Franchise: How did you fall into franchising?
Philip Schram: “I came to America from France many years ago to buy a business. I really wanted to be an entrepreneur. My dad’s business partner was a Buffalo Wings & Rings franchisee, so I learned a bit about the brand from him. After realizing the brand was a good fit for what I was looking for, I became a co-franchisee of a BWR location with my business partner. Eventually, in addition to that role, I became more involved with the brand on a corporate level and was named the Chief Development Officer for Buffalo Wings & Rings.”
1851: What makes you love franchising?
Schram: “The thing I love about franchising is that you are working with a real business that has a product and brand equity. If you run a small manufacturing company that makes parts for a car, it could be very successful, but often times the public won’t really know about your brand. Working with a name that is known by the public was really important to me, and that is a big reason why I went with Buffalo Wings & Rings. In my corporate role, I also love the fact that I am dealing with like-minded business people on a daily basis. I love to interact with franchisees who have a passion for business and our brand.”
1851: What do you wish would change in franchising?
Schram: “I have tremendous respect for franchisees who run a single unit of a franchise, but if I could change one thing, I would push people to be even more ambitious. I want more franchisees to have expansion on their minds. While it is extremely admirable to run a single unit of a franchise, I love working with franchisees who have a bigger goal in mind. That being said, I want people to deliver on their promises. If a franchisee talks a big game in terms of wanting to expand, I’d like them to follow through on that.”
1851: What makes a great franchisee?
Schram: “A great franchisee understands what the franchise model is. A lot of people don’t realize early on what it actually takes to be a successful franchisee. They need to be a hard worker and also have the ability to entertain and interact with people or they will not succeed. Lastly, on the money side, a franchisee needs to be financially qualified to run a business. They not only need to have the finances to support their franchise, but a good franchisee needs to be able to manage money well.”
1851: What’s the No. 1 thing that sells franchisees?
Schram: “While many people love the idea of owning their own business, I believe franchisees are sold on the money that can come with owning a franchise. The cost of buying into a franchise is generally lower than the cost of opening your own business, so the lower investment risk with a higher financial reward is what ultimately sells franchisees in my opinion. If things do not work out for some reason, people won’t necessarily lose all of their live saving.”
