FranPoint’s Seasoned Franchising Team Takes on Restaurant Concepts Seeking Accelerated Growth
The modern-day founder of MaggieMoo’s and the former franchise development director of the recently acquired national ice-cream chain have launched a company of seasoned restaurant industry pros that is taking startup restaurant concepts under their wing and helping them reach the100-unit milestone. The new company, FranPoint Partners, is being dubbed the only one of its kind in the restaurant segment.
Led by Richard J. Sharoff, the former Chairman, President and CEO of MaggieMoo’s International, LLC, FranPoint Partners has already attracted the interest of several growing restaurant chains seeking to elevate their concepts. Sharoff purchased MaggieMoos in its infancy and developed it into a well-known brand, creating a franchise system and opening more than 150 units before selling it in July 2003. Sharoff was also one of the first multi-unit franchisees of Boston Market.
Sharoff recruited as a partner Paul Stratmeyer, who recently left the franchise development team at MaggieMoo’s International following the company’s recent acquisition/merger. Stratmeyer offers specialized knowledge in the psychology of recruiting the best franchisees, as well as franchisee/franchisor relationships, training and operations. Meanwhile, partner Joe Spinelli, president of FranPoint, is a 30-year veteran consultant of the restaurant industry with a architectural engineering background. He offers expertise in restaurant development, real-estate, architectural design and structural kitchen equipment systems. He has also owned and operated businesses that supply these products and services to restaurants.
“We’re equipped to help established restaurant concepts launch a successful franchise program, and help chains who have already embarked on a franchise program improve their franchise offering,” Sharoff said. “We go much deeper than consulting firms who pass along suggestions. We actually provide the services that we recommend, whether it’s brand marketing, re-designing a kitchen, finding ideal real-estate or putting a franchise sales team in place to recruit quality franchisees. We don’t just make a do-list and walk away. We have the skill sets and resources needed to actually get the job done.”
FranPoint Partners can determine if a restaurant concept is right and properly poised for franchising success, and if not, can identify and implement improvements in all areas that may be sub-optimal including branding, concept design, menu and pricing, investment optimization, direct and indirect costs, revenue enhancement, and more. Once considered optimized for franchising, FranPoint can take responsibility for all franchising efforts including sales, real estate, construction management, and ongoing franchisor and franchisee relations. FranPoint has brought in “affiliate partners” who bring specific additional resources to its clients including accounting, human resource services, marketing and branding, and purchasing and distribution.
FranPoint Partners was created on the premise that operating restaurants and franchise systems are completely different disciplines, and that implementing a successful restaurant franchise system generally requires more resources than a typical operator can afford, or justify. FranPoint offers a menu of services ranging from franchise sales to a total outsourcing of franchise system support, which allows each client to choose a catered franchise business plan.
“We’ve seen far too many restaurant concepts start franchising prematurely, without taking the proper steps to ensure efficiency,” Spinelli said. “We want to work with emerging restaurant concepts to formulate a fine-tuned plan before the fact, so they don’t make the mistakes of others. Similarly, we are well-equipped to work with an established chain experiencing challenges in their franchise system. We know how to get in, make a plan and then execute the necessary changes, whether they’re minor alterations or complete overhauls.”
According to partner Stratmeyer, the FranPoint difference is that “typical brokers make a sale and walk away. We live with the relationship after the sale and manage the relationship just as if we were the franchisor. We literally stand right by our clients to implement action. We take ownership for the results.”