Franchise Foundry and franchisEssentials predict merger
Franchise Foundry and franchisEssentials have entered a strategic partnership ahead of a formal merger.
Franchise Foundry and franchisEssentials are expected to complete a formal merger in the near future after entering a strategic partnership.
Consultancy, marketing and development organisation franchisEssentials revealed it has teamed up with the venture capital firm in a move that sees president and chief executive officer Paul Segreto become chief development officer at Franchise Foundry.
Business negotiations are likely to be required before a formal merger is completed, but Mr Segreto noted such a move will bring substantial benefits for both companies.
"Combining the two and capitalising on the strengths of each, allows us to offer a broader range of services and provide additional focus and quality to developing growth and improving a variety of franchise systems," he explained.
Some of franchisEssentials' operations will remain independent of Franchise Foundry once the merger is complete, such as FranchisEssentials Media Group, which specialises in media and digital marketing.
However, these aspects of the business will be on hand to provide expertise to Franchise Foundry if needed, Mr Segreto stated.
He is also working on a collaboration with Plum11 chief executive Ashley Graham to create a new magazine aimed at promoting best practice in the franchise industry.
Posted by Ron Maverick
Source: Franchise Foundry press release, May 30th