- WHITE PAPERS
Patrice & Associates, a nationwide recruiting firm specializing in the restaurant industry, has introduced a regional development franchising program. According to a news release, as part of the new program, regional developers will acquire the rights to develop 25 Patrice & Associates franchises within a specified territory. Developers will also receive a single franchise unit of their own, plus a portion of the new franchise fee and ongoing royalties from franchisees signed within the territory.
"This is a unique opportunity to provide investors with the means to reach their income, lifestyle, wealth and equity goals through a leadership position unlike anything we’ve had before," COO Brian Miller said in the release. "Regional developers are heads of their own region and responsible for leading and motivating a team of professionals as they build market share within the communities the franchisees and developer serves."
The initial regional developer investment costs about $200,000, plus fees, compared to the roughly $50,000 investment for a single franchise. Franchise territories are determined based on population, with a single franchise covering areas that occupy about 250,000 people.
Patrice & Associates also recently announced its Canadian growth plans, with 50 new franchise units expected in that market in the next five years. Founder and CEO Patrice Rice said a Canadian developer program is also expected to be launched soon.