The audience will hear from a specialist in the franchising space, who acts as a one-stop shop for all your business development, coaching and training needs.
Did you know that most franchise consultants have never been a franchisor or franchisee- let alone a franchise attorney? This means that they may not understand the legal issues and perils specific to franchising.
Our special guest knows what you need to be successful in the world of franchising, because she has been in those shoes, on the front lines.
We are joined by Lori Karpman, CEO of Lori Karpman & Company, based in Montreal. LKC is an award-winning, full-service franchise consulting firm with over 30 years of real-world experience as a franchisor, franchisee and franchise attorney.
Lori and her team allow clients to spend their time working “ON” their business and not “IN” it. On average, clients that work with LKC can expect to see an additional 3-5 hours per week on their calendars.
Website: https://lorikarpman.com/
Facebook: https://www.facebook.com/ww.coachlori.ca
Twitter: http://twitter.com/lorikarpman
LinkedIn: https://www.linkedin.com/in/lorikarpman
Phone: (514) 481-2722
Email: lori@lorikarpman.com
Tune in for this sensible conversation at TalkRadio.nyc or watch the Facebook Livestream by Clicking Here.
Segment 1
Steven starts off the show by introducing his guest Lori Karpman, CEO of Lori Karpman & company. Canada’s Leading expert in franchising and multi unit development, Lori holds an impressive 30 years of experience in both the corporate and non-profit business environments. Going into her background, Lori explains how an interest in TV law dramas as a child inspired her to go on to get a bachelor's degree in commerce and a degree in management information systems. Lori decided to take her experience in business law and co-found a chain of restaurants. Lori works with established brands and new brands looking to franchise, as well as working with individual prospective owners of franchised restaurants
Segment 2
Coming back from the break, Steven asks Lori to expand on her techniques in helping businesses and business owners looking to franchise. Steven also makes note of the fact that Lori advertises as a KOLBE certified consultant, which Lori goes on to explain is a personal assessment system used to determine an individual’s problem solving methodology, and how their systems of problem solving developed as children. Lori advocates that this system can help teams efficiency by making it easier to understand co-workers/employers specific needs and expectations based on their assessment profile.
Segment 3
Coming back from the break, Steven asks Lori to talk about some stories from her field of work.. Lori says that people who buy and run a successful franchise are very particular, and that true entrepreneurs are terrible franchisees. She says that good franchisees need to have something to offer, but know how to follow systems given to them. Using an example from her time with zing she makes it clear that the key to franchising is consistency, and that her primary concern is the integrity and success of the franchise as a whole and that the reputation of one bad location diminishes the entire network. The importance of a properly laid out and followed system is crucial to the success of a franchise.
Segment 4
Moving into the final segment of the show, Steven asks Lori what central messages she wants to leave listeners with going into the week. Lori stresses to the listeners the benefits being a franchise owner can have for individuals. She finds franchising is the best way to get into business, as it carries little actual risk to the franchisee who follows the systems they are given. Lori advocates that in the beginning prospective franchisors focus on the availability and consistancy of their products. Stressing the importance of the supplier-franchise relationship, Lori reminds franchisors to collect rebates through their supplier relationships based on franchise purchase volume, as oftentimes royalties are the only source of revenue for the franchisor. Stephen reminds leaders they can find Lori on social media before asking his favorite 3 questions.
