| Type | Public (NYSE: FC) |
|---|---|
| Industry | Education and training services |
| Founded | May 30, 1997 |
| Headquarters | West Valley City, Utah |
| Key people | Robert Whitman, Chairman/CEO Stephen Young, CFO/CAO/VP of Finance/Controller Stephen R. Covey, Co-Founder Hyrum W. Smith, Co-Founder |
| Products | Planners and effectiveness training |
| Revenue | $282.6 million USD (2005) |
| Website | www.franklincovey.com |
FranklinCovey (NYSE: FC), based in West Valley City, Utah, is a provider of time management training and assessment services for organizations and individuals. The company was formed on May 30, 1997, as a result of an acquisition by Franklin Quest of Stephen R. Covey's Covey Leadership Center. Among other products, the company markets the FranklinCovey planning system, modeled in part on the writings of Benjamin Franklin, and The Seven Habits of Highly Effective People, based on Covey's research. The company operates approximately 20 retail stores throughout the United States and has sales channels in more than 50 countries worldwide.
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Hyrum Smith, CEO of Franklin Quest, expected the acquisition would increase the company's market value, through the synergistic combination of Covey's Seven Habits book with the Franklin Planner and its associated training courses. However, after the merger the company's stock price dropped from around $20 per share to a low of under $1 per share in early 2003. As of June 1, 2006, it was trading around $7 per share. From late 2009 to mid 2010 the stock price was in the range $5.5 to $8[1].
The company continues to market the FranklinCovey planning system Franklin Planner through its own stores and through other retailers including Office Depot, Staples, Office Max and has expanded into licensing the FranklinCovey brand to planners offered at non-FranklinCovey retailers such as the "365" line at Target and the "DayOne" line at Wal-Mart.
The company markets a variety of book and audio products based on Covey's 7 Habits material, as well as numerous titles by other FranklinCovey consultants. The company also offers two main training courses: one based on The Seven Habits of Highly Effective People; and another based on the original FranklinQuest time management program, now titled Focus.
Additionally, FranklinCovey has launched a line of new training and consulting products focusing on leadership and organizational alignment. Software implementation of the company's planning system is named "PlanPlus for Windows", and an online version is offered under the brand "PlanPlus Online".
Since the acquisition, both Covey and Smith have stepped down from the Co-Chairman/Co-CEO positions in favor of Robert Whitman, who also took an investment position in the company.