Pinnacle Franchise Development’s president explains how the company helps brands break into the franchising industry both domestically and internationally.
In the franchise development industry, few professionals can boast the level of experience and expertise that Todd Bingham brings to the table. He’s held a variety of positions with FranNet, from vice president of operations to president. So when the brand launched its latest initiative—Pinnacle Franchise Development—it made sense for him to transition roles and become its president.
Pinnacle Franchise Development is wholly owned by FranNet. The company helps brands take their businesses to the next level by adding franchise options. Throughout the entire development and sales process, Pinnacle Franchise Development serves as a guide to franchisors navigating the industry for the first time. It’s development team’s extensive networking and industry experience, combined with its branding and marketing support, make it one of the best resources for brands considering the proven franchise model.
1851 Franchise recently spoke to Bingham to learn more about Pinnacle Franchise Development’s services and approach to helping brands break into the franchising industry.
What do brands need to know before they expand their businesses through franchising?
The biggest thing brands need to consider before franchising is the cost. It’s not cheap to start a franchise—especially a successful one. There’s a lot of time, effort and hard work that goes in on the back end to get a concept off the ground. It’s also important for brands to realize that becoming a great franchisor doesn’t happen overnight. But even though it’s an intense process that takes time, the benefits and advantages that come from the decision to franchise are substantial.
How does Pinnacle Franchise Development help brands franchise their business?
One thing we do differently than everybody else is ensure that our brands are growing at the right pace. We want all of our franchisors to be on solid footing and have the ability to keep up operationally with their growth—expanding too fast can actually be detrimental. It’s also essential for brands to be able to hire new employees whenever they need to in order to keep their momentum rolling in the right direction, and provide the necessary support local franchisees need in order to be successful. Pinnacle Franchise Development’s services go far beyond simply selling franchises.
What have been some of Pinnacle Franchise Development’s major milestones?
All of our major accomplishments center around our brands’ success. For example, we’ve been able to help a company double the amount of franchises it has sold over the past seven years in only six months. We also helped a Canada-based business launch its franchise program both domestically and internationally. To see this brand go from zero franchise units to locations in both the U.S. and Canada has been incredibly rewarding.
What are you most proud of in terms of Pinnacle’s franchise development efforts for brands?
I’m most proud of Pinnacle Franchise Development’s ability to successfully guide brands throughout the entire franchise development process. We’re with our clients from day one—we help them redesign their website, create a branding standards manual for franchisees, and help them perfect their franchise marketing programs on both the corporate and local level. There isn’t a single part of the development process that gets overlooked.
What are your goals for Pinnacle Franchise Development in the next few years?
It’s simple, but our main goal is to continue helping brands launch and operate successful franchise systems. That includes the new Go Global program, which is currently in development. Pinnacle Franchise Development is going to step up its efforts to help franchises expand beyond—or into—the U.S. By focusing our efforts on international growth efforts, we’re opening the door to a whole new group of consumers and small business owners.