Equation meet Apprentice Kimberly Davis @ BU. Business Mania

Equation presented at the Bournemouth University just after Apprentice Kimberley Davis about the benefits of franchising and their staggering success rates.

Stephanie said “Franchises have a 95% success rate, compared to a 50% success rate for new independently owned businesses, half of which fail in their first year.

She went on to explain the concept of the business prototype, which forms the basis of the Equation business model, inspired by the globally successful McDonalds franchise chain.

“A written system is the very thing which differentiates your company from the competition and ultimately protects the unique way you do what you do. It also ensures you provide a consistent, reliable service, whilst your staff provide the all essential, personal touch.

Even if your business is not suitable for replication, without doubt, every business can benefit from having an operations manual, a ‘way of doing things’ a system, processes for your staff to follow. It becomes the very foundation of the expectations of the service you deliver. And people buy from you based on their expectations”