Additional Services and Support Are Planned for Franchise Fastlane Clients
Franchise Fastlane has secured private equity from Southfield Capital to help grow its business as a franchise sales organization, or FSO. Franchise Fastlane, founded five-plus years ago, has a mission of accelerating franchise development so that emerging franchises turn into thriving franchises. Funding from Southfield Capital will be used to expand its services that help franchises grow.
In announcing the partnership with Southfield Capital, Carey Gille, president and co-founder of Franchise Fastlane, said the infusion of financial support will help Franchise Fastlane help its clients’ brands in several ways, such as organic lead generation, initial development support after franchisees have signed, consulting on field support setup, franchisee marketing, and insurance and payroll. Franchise Fastlane is adding value with the solutions and services that franchises need to support their growth, she said.
More Services for Franchises
“We are committed to helping you [franchisors] as you work diligently to support the growth we usher in,” Gille said. “This partnership with Southfield will be the foundation of that future.” Those are among the more than 4,000 franchise brands in the United States, Gille says, and about 300 new ones launch each year. As an FSO, Franchise Fastlane exists to get these brands noticed and match them up with qualified franchisees. “You drive your business while we drive your growth,” Gille is fond of saying.
Based in Omaha, Neb., Franchise Fastlane has helped a number of brands add more than 4,000 franchise sites. These brands include Monster Tree Service, Mosquito Shield, Koala Insulation, All Dry, Conserva Irrigation, The Exercise Coach, Brothers That Just Do Gutters, Ninja Nation obstacle course arenas, Spenga spin-strength yoga studios, Premier Martial Arts, Smash My Trash, Color World Painting, Hello Garage, Spray-Net painting and more. Franchise Fastlane was honored as one of the top five companies in Entrepreneur magazine’s Franchise Consulting and Development Category rankings in 2020 and 2019.
How Franchise Fastlane Operates
Gille says Franchise Fastlane represents two main types of franchisors. One is what Gille calls “steady brands” that add 40 to 50 franchise locations per year. Franchise Fastlane also assists “explosive brands,” working with the brands to sign hundreds of franchisees per year. For example, she says Franchise Fastlane has helped the mobile waste compaction company Smash My Trash quickly grow from just a few franchises to more than 500 territories.
Franchise Fastlane does not receive equity in exchange for the services it provides to franchisors. Franchisors pay no ongoing royalties, and they pay their commissions to Franchise Fastlane only after the match is finalized. “If we don’t deliver sales in 25 territories per year, we’re fired,” she says.
Southfield Capital, based in Greenwich, Conn., has partnered with growing companies in the lower middle market since 2002. Southfield Capital works collaboratively with management teams to accelerate their companies’ growth. Gille and Ryan Zink, CEO and co-founder of Franchise Fastlane, will continue in their leadership roles at the company.