Stuart Beechen, who heads up
Bucking Bull as managing director of First Food Corporation, talks 2008.
Q: What are the big issues for your company and the industry in 2008?
A: The franchise industry has experienced rapid growth over the past 10 years and is now reaching greater maturity but still with significant fragmentation. With this maturity the focus is now on mergers and acquisitions to reduce fragmentation and take advantage of economies of scale in operating multi brand franchises. This trend will continue throughout 2008.
Q: What do you hope to achieve in the next 12 months? A: At Bucking Bull we are striving to improve our Bucking Best Practise programme to further increase profitability for franchisees. This will require our primary focus to be on systems, compliance and growth in existing franchise stores, with a secondary focus on new store growth in 2008.
Q: How would you simply define what a franchisee can expect from the company? A: Our franchisees' can expect an increase in profitability commensurate with the effort they put into compliance with the franchise system using first class visual merchandising and customer service skills.
Q: What are your personal challenges for next year?
A: Knowledge is the key to success in business and my personal challenge for next year is to involve all of the Bucking Bull franchise support staff and franchisees in a personal development programme to increase their retail and management skills. This will include a strong involvement in the FCA Professional Development programme. I'm also looking to renew my involvement in motor sport activities.
Q: Tell us something that we don't know about you. A: I started retailing motor accessories in 1974 as a means to go motor racing and rallying. This love of motor sport culminated in my role as executive director of the first Rally Australia in 1988. My passion for retail continues unabated today as I lead a franchise support team for the 23 Bucking Bull stores in Australia.
This article appears courtesy of Franchising Magazine.
15-Jan-2008