- New York US-NY
Previously the managing partner of a law firm with offices in New York City and Hoboken, NJ, Thomas Foley built a reputation for writing and negotiating contracts. A member of the State Bar of New Jersey, Thomas Foley is now a principal of Indigo Group, LLC (a successor in idea to Navitas Concepts, LLC) and Foley Shechter, a NY Law firm. Indigo, located in Dallas and New York City, provides expert strategic advice relying on its principals' strong legal insight. Tom provides advice in several verticals, including franchising business models. In a paper he penned about franchising, Foley points out its advantages and responsibilities to potential investors, reminding them that a franchise is a license to operate, not a guarantee for success. Even after thorough training, there are many matters to attend to, such as marketing, planning, and obtaining support from other local franchisees. Success in franchising depends on following the franchisor's system, but it also hinges on an ability to handle the local details. A franchisee must be familiar with an area's demographics and learn what kind of employees he or she can attract and promote. A franchisee must be aware of customer needs and wants that the franchise may not yet serve. Conflict resolution skills are essential - the home office may not agree to an innovative idea that does not fit the company’s picture of a successful location. A franchisee will have to find room to compromise or convince in decisions. Above all, says Foley, a franchisee must go beyond and truly own the business by taking responsibility for good sales and smoothly running operations.