Franchise Times: Getting a Foot in the Door with Developers

The competition for real estate is heating up for franchise groups. According to a recent Franchise Times article, the relationships that FSC Franchise Co., the franchisor of The Brass Tap*, has built with developers is really paying off in securing space for new locations.

“It is great to have a developer that really understands us, our concept and our ability,” says Peter Petrosian, chief development officer at Tampa-based FSC Franchise Co., which is the franchisor for The Brass Tap and Beef ‘O’ Brady’s restaurants.

WP Glimcher Inc. is one of the developers that FSC Franchise Brands has fostered a relationship with, and the two have done a number of deals together for Beef ‘O’ Brady’s and The Brass Tap around the country.

One of the top reasons for building that relationship is that a developer will be more interested in the franchise concept if they have a relationship with the brand and fully understand the model. Once they have an opening, your brand will be top of mind when a landlord needs to fill the space. The developer will also have a better understanding of whether or not the space is a good fit for your brand and can steer you away from choosing the wrong location.

By participating in industry trade shows and events, having a good track record, and telling the brand’s development story to developers, franchisors can get noticed by developers to start building those relationships.

As is the case with any relationship, trust is a key element. “When we are out looking for retailers and restaurants and service uses for our projects, we are looking for concepts that are not only good for our projects, but we are looking for people we can trust,” says Paul Ajdaharian, executive vice president of community and lifestyle centers for WP Glimcher.

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