During 1993, with an associate, we gained agreement with a Seattle coffee
company to allow us to expand its retail business via franchising to compete
with the number one specialty coffee company in the world. In order to
execute this expansion strategy, we had to raise money to pay the owner a
sizeable amount of cash to take control of the company. In the process, we
gained an investor that had another specialty coffee company. The concepts
were merged together in an $18 million transaction. In 1994, we formulated
a strategic plan to launch the franchise side of the business. We defined
510 tasks to complete. We went from zero readiness to launch in eight
months. We sold the first franchise in December 1994. By the end of
1995, we had sold 34 franchises representing 75 retail units.
Major tasks accomplished over eight months included completion of:
Multiple-unit Franchise Agreement
Franchise Registration
Corporate Image Standards
Retail Store Redesign
Operations Manuals
Pre-Opening Procedures
Franchise Policy
Real Estate
Personnel
Marketing Sales & Advertising
Daily Operations Manual
Training Program
Field Support System
Point-of-Sale System
Franchise Sales Methodology and Sales Materials
Re-image Existing Stores
Franchisee Financing Program
