Franchise Business Development Project Manager

It All Starts with Our PeopleAs the leader in automotive preventive maintenance, Valvoline has a proven track record of growth. We continue to invest in our people, processes, and technology to strengthen our ability to efficiently deliver Quick, Easy, Trusted service across all our stores - every day. We're not just in the car business; we're in the people business. And we're looking for humble, hungry, and smart people to help us shape the future of mobility. If you're hungry to drive change and seek a dynamic, collaborative environment that fuels both personal and professional growth, you've found your place with us.Our highest priority is creating a welcoming workplace with team members from a wide variety of diverse backgrounds and experiences.The OpportunityValvoline has a rewarding opportunity as a Franchise Business Development Project Manager. In this role, you will develop and bring to fruition new franchised unit opportunities from site discovery and application to senior management reviews, approvals, and openings. This role is critical to the development of the new unit pipeline, the development agreement performance, and the reporting of same driving consistent and predictable store count growth and target attainment of approximately *$14 million incremental recurring EBITDA. The role also leads and administers franchise bounty and finance programs, which fund the aggressive growth of franchisees.How You'll Make a Difference1. Franchise New Store Development & Site ApprovalsDevelop and maintain structured franchise site approval processCounsel franchisees in key factors that influence approval/rejection of sites by VRS. Items would include acceptable proforma cashflow, site design criteria, trade area characteristicsLead New Unit Review and present to VRS Management. Represent franchisee by explaining rationale for site. Pointing out pros/cons of location to VRS Sr. Management and explaining projected total investment and financials of each site. Franchisee investment ranges $2mm-$3mm per new storeProvide pipeline knowledge to leadership for EBITDA planning and monthly updates.Role generates predictability in earningsEach franchise location generates $175k EBITDA80 annual stores x $175k - $14 million incremental annually2. Manage and Facilitate Store Bounty and Franchise Lending Programs (~$180k/per store average or ~$11mm annually)Determine bounty payment using historical POS data (acquisition) or projected oil changes (new construction). Make total bounty payout recommendation to Sr. Management for each new unit.Create amortization schedules and ensure bounty notes are fully executed prior to distribution. Provide notes to VRS Treasury to ensure proper accounting in loan ledgerDisburse bounty payment to franchisee using VRS Payment Request SystemManage bounty "true ups". Make recommendation to leadership to resolve any under or over payments generated by actual store performanceOversee current Bank of America program. Determine which franchisees are qualified to use $25mm program to fund new store development. ~$600k current average loan sizeReview all loan packages prior to submission to VRS Treasury/Cash Management. Represent franchisee by explaining rationale for recommendation to provide VRS 100% loan guarantee3. New Franchisee Qualification and OnboardingManage incoming business development leadsPrequalify new franchisee prospectsPrequalify VIOC/VIOCF quick lube acquisitionsPrequalify Express Care quick lube conversionsManage Discovery DaysSchedule internal participantsSchedule prospective franchiseesManage/maintain presentation content from internal presentersGaining financial approval of prospective franchiseesReview corporate/personal financial statements to determine prospect meets VRS minimum financial qualificationsManage/maintain all forms required for new franchisee approvals (franchise application, personal financial statements)Train new franchisees on Business Development resources and support as part of New Franchisee Orientation program4. Develop, Manage and Communicate Development Agreement ScorecardINTERNALTrack development timelines including construction/opening of new storesEXTERNALLead bi-annual Development Agreement scorecard reviews with franchise principals and VRS Sr. Management5. Supervise and Facilitate Franchise Growth Ready Process and Transfers/RenewalsDevelop and manage a process that ensures only operational and financially qualified franchisees grow the VIOC brandEngage VVV Finance and CreditComplete review of the franchise system's financials to determine growth-ready abilitiesEngage VRS franchise leadership and operations managementSolicit input and get consensus on growth-ready parametersFrequency of reviewsTriggers for reviews (new development agreement, addition of new store, accounts receivable issues)Lead growth-ready reviews with franchisee principals and VRS internal teamDevelop and manage tracking system to ensure consistency and timelinessCreate and oversee process that ensures timely franchise agreement renewalsSolicit input from VRS Legal & Franchise OperationsVerify franchisee compliant with license agreement standardsCalculate renewal bounty payout per store and ensure all legal documentation properly executed prior to distributionInitiate VRS internal franchise transfer process to ensure proper documentation and accurate account settlement prior to termination of former franchiseeOutstanding accounts receivableUnamortized new store bounty balancesWhat You'll Need to SucceedEducation: Bachelor's degree or relevant experienceCertification: Federal Trade Commission Registered Sales AgentExperience: 5-8 years' experience working with a franchise or other entrepreneur-owned / controlled businessKnowledge/Skills:Personal interaction skillsMust have the ability to manage significant amounts of detail, among a significant number of owners and storesPosition will manage levels from the president to functional management teams across the organization.Incumbent will manage external customer contacts with senior officers of franchise systems that maintain a net worth in excess of $1 billion.Incumbent will interact with independent quick lube owner/operators; franchise prospects well-versed in other retail & finance businesses, as well as private equity firms looking to potentially invest and/or diversify with the VIOC franchise platform.Position will interact with bank representatives at levels from senior officers regarding loan program management to loan officers regarding individual franchise loan requests.We Take Care of the WHOLE YouHealth insurance plans (medical, dental, vision)HSA and flexible spending accounts401(k)Incentive opportunity*Life insuranceShort and long-term disability insurancePaid vacation and holidays*Employee Assistance ProgramValvoline Instant Oil Change discountsTuition reimbursement*Adoption assistance*Terms and conditions apply, and benefits may differ depending on position.Your Path to ValvolineValvoline provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.Join us in revolutionizing the automotive aftermarket industry while enjoying competitive benefits, a supportive work culture, and opportunities for advancement. Apply now and become an integral part of our journey at Valvoline.The Company endeavors to make its recruitment process accessible to any and all users. Reasonable accommodations will be provided upon request to applicants with disabilities to facilitate equal opportunity throughout the recruitment and selection process. Please contact Human Resources at 1.833.VVV.Report or email ECC@valvoline.com to make a request for reasonable accommodation during any aspect of the recruitment and selection process. The contact information is for accommodation requests only; do not use this contact information to inquire about the status of applications.#VVVInd