When it comes to building new physical locations for a franchise business, franchisors may face a number of challenges such as finding suitable locations, securing leases or purchasing property, obtaining permits, and managing the construction process. One solution that franchisors may consider is outsourcing project management to qualified third-party companies or consultants. This can provide a range of benefits such as cost savings, expertise, time savings, flexibility, risk management, scalability, access to resources, focusing on the core business, cost control and compliance.
Below are the top 10 key benefits to hiring a professional project management firm for your next project:
- Cost Savings: Outsourcing project management can help the franchisor save money by reducing the need to hire and maintain a dedicated in-house team. This can save on costs such as salaries, benefits, and training expenses. Additionally, outsourcing project management allows the franchisor to avoid the costs of maintaining an office and equipment for the in-house team. This will directly benefit the profits of the company.
- Expertise: Third-party project management companies and consultants typically have specialized expertise and experience in managing construction projects, which can be beneficial in ensuring that new locations are built to the franchisor’s specifications and standards. This expertise can help ensure that the construction process is completed efficiently, on-time, and within budget.
- Time Savings: Outsourcing project management allows the franchisor to focus on their core business operations and not have to devote as much time and resources to managing the construction process. This can help the franchisor to be more productive and efficient in their day-to-day operations.
- Flexibility: Outsourcing project management allows the franchisor to adapt to changes in the market and in consumer preferences more quickly, as the third-party company can bring new strategies and approaches to the table. This can be especially beneficial in a fast-paced and ever-changing market.
- Risk Management: Outsourcing project management can help the franchisor to manage the risk associated with construction projects, as the third-party company will take on some of the responsibilities and liabilities that come with managing construction projects. This can help the franchisor to mitigate potential risks and avoid costly mistakes.
- Scalability: Outsourcing project management allows the franchisor to easily scale up or down the number of new locations they are building, without having to expand or reduce their in-house team. This can be especially beneficial for franchisors that are looking to grow rapidly or scale back their operations.
- Access to Resources: Outsourcing project management gives the franchisor access to a wide range of resources, including experienced project managers, architects, contractors, and other professionals that they may not have in-house. This can help the franchisor to access the expertise and resources they need to complete construction projects successfully.
- Focusing on the Core Business: Outsourcing project management allows the franchisor to focus on their core business operations and not have to devote as much time and resources to managing the construction process. This can help the franchisor to be more productive and efficient in their day-to-day operations.
- Cost Control: Outsourcing project management gives the franchisor more control over costs, as they can better track costs and expenses and make adjustments as needed. This can help the franchisor to manage costs more effectively and ensure that new locations are built within budget.
- Compliance: Outsourcing project management can also help ensure compliance with franchise laws and regulations, as the third-party company will be able to advise the franchisor on how to meet the legal and regulatory requirements for building new locations. This can help the franchisor to avoid costly legal and regulatory issues and ensure that new locations are built in compliance with all relevant laws and regulations.
Outsourcing project management for your franchise physical locations to SCGWest Development can help you ensure that your new locations are built and opened successfully, while also saving you time and resources. We have a proven track record of delivering projects on time and within budget, and we have the skills and resources to handle all aspects of the project. Contact us today to learn more about how we can help you with your next project!