Legacy Franchising Develops Franchise Systems the Right Way with the Right Team
When it comes to franchise developers, brokers and consultants I’ve yet to meet any as unique as Legacy Franchising.
This past week I had the opportunity to interview Marty Welch, Chief Development Officer for Legacy Franchising. When I met Marty for the first time at a recent franchise conference, I asked about Legacy and found the company a refreshing departure from the typical broker and consulting firms in the industry. With over 20 years of experience in developing emerging concepts as well as mature franchise companies in the restaurant, retail, and service industries, Marty told me that Legacy provides a unique array of services.
He explained that one of the advantages
that Legacy brings to a franchisor is their alliance with angel
investors who are interested in investing with some of the brands in
the Legacy portfolio. He gave me an example of how the relationship
can work: "We’ll find an operating partner who will operate the
franchise on a day to day basis with a 10% equity position in the
franchise. We’ll manage the operating partner. Legacy and the
passive investor will share the remaining equity ownership. The goal
would be to develop multiple locations." For the brands that Legacy
represents, it’s an excellent opportunity for the franchisor to
develop their franchise system with well capitalized franchisees.
Legacy will develop a development program with a franchisor and can
start with one franchisor location or ten. However, as Marty
explained, Legacy doesn’t just sign up any franchise but has some
strong qualifications they consider.
Marty told me that one of the strengths of
Legacy is the management team that includes:
- Fred Auzenne, Co-Founder, CEO who has had a successful 15-year career in sales and marketing within the pharmaceutical and medical device industry
for Merck, Millennium Bio Tech, and Medtronic. He is the managing partner of the Entrepreneur Opportunity Fund, making debt and equity placements in second
- Tracy King, Co-Founder, COO who has over 20 years of management and marketing experience in Fortune 500, mid-size and entrepreneurial startup
companies. After earning her MBA, she started her career in marketing and brand management at Dial Corporation and then The Kellogg Company.
- Steve Olson, Steve Olson, Chief Development Advisor has over 30 years in franchising, most recently was President of Franchise Update Media Group.
He authored the Amazon #1 Best Seller on franchise development, Grow to Greatness: How to Build A World-Class Franchise System Faster.
In addition to franchise system development Legacy offers other services that include:
- Pre-Franchising Consulting, which includes a review of all aspects of a business operation to determine any actions you need to take before being
ready for franchising and if qualified Legacy will assist with an executive business plan for a franchise rollout.
- Territory mapping and sales training for franchisors looking to launch a master franchise program.
- Advise a franchisor on how to attract venture capital from private investors or potential partners.
- Analyzing an existing franchise operation from A to Z in order to identify new opportunities.
For franchisors looking to establish, launch or develop their franchise system, Legacy could offer the right solution. To quote Marty Welch, "Legacy is
different from other firms that offer development franchise services" and after learning about Legacy, I can't disagree.
© 2015 FranchiseKnowHow, LLC
Ed Teixeira is the President of FranchiseKnowHow.com and Chief Operating
Officer, FranchiseGrade.com. He is a former
franchise executive and franchisee. He can be contacted at 631-246-5782 or