Franklin Covey knows a few habits that will help you. The publisher of the popular The 7 Habits of Highly Effective People book offers clients books, training, and consulting services in seven practice areas: leadership, productivity, trust, execution, sales performance, education, and customer loyalty. Franklin Covey's more than 4,200 clients include about 75% of the FORTUNE 500 and typically are corporations, government entities, and educational institutions, mostly in the US. Through licensees, the company serves about 140 countries. It has subsidiaries in Australia, Japan, and the UK. Franklin Covey was formed in 1997 when Franklin Quest acquired the company created by productivity guru Stephen Covey.
The company delivers its services and products through professional Franklin Covey consultants that offer training on site at client locations. Client employees that have received specialized training can also deliver content as certified Franklin Covey facilitators. The company additionally provides its services through international licensees, public workshops, and a series of online offerings.
In 2011 the firm reported revenue of $160.8 million, a 17% increase over the $137 million it earned in 2010. Revenue increases were the result of higher sales across all key channels and practices. Franklin Covey's net income also grew to $4.8 million, compared with a net loss of $0.5 million in fiscal 2010. Net income benefited from a decrease in the effective tax rate, from 210% in fiscal 2010 to 43% in fiscal 2011, primarily due to foreign tax credits it received in 2011.
The company continues to expand its offerings beyond its flagship 7 Habits of Highly Effective People, introducing new programs in order to boost sales. In 2011 it launched 5 Choices to Extraordinary Productivity and The 3rd Alternative: Solving Life's Most Difficult Problems. Also that year it signed an agreement with Simon and Schuster for a new book based on the Four Disciplines. (The book The 4 Disciplines of Execution is a companion work to 7 Habits, focusing on the execution process of that program.)
Donald McNamara, a director on the company's board, owns a 27% stake in Franklin Covey. Private equity firm The Hampstead Group LLC, of which McNamara is the founder and principal, controls another 26% of the company. – less
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