In this episode, Pete Baldine talks to us about how to build a solid, emerging franchise model. It is a very broad topic, but the episode is filled with great “take-aways” and is a must-listen for any emerging franchisor.
Time Stamp
Segment 1 03:01
Get to know Pete Baldine
Segment 2 33:58
Topic Segment – Building a solid emerging franchise model
Segment 3 01:12:32
Quick-Draw Questions
Topics discussed in this episode:
- Establish a solid, proven model
- Running a business and being a franchisor are completely different
- Prove the model by establishing good unit economics so you can develop a solid story of success
- Be capitalized well enough to build proper infrastructure and support new franchisees
- New franchisee training
- FDD / FA
- Ops manual
- Ongoing training programs
- Stage One franchise system growth – friends and family
- Support friends and family franchisees and make them successful
- Search your existing franchisee base for success stories and duplicate them
- Stage Two franchise system growth – professional candidates
- Successful franchise sales requires a solid process
- What is a new franchisee worth – what are the costs
- The importance of establishing trust
- How to evaluate prospective franchisees candidates
- Don’t bury your franchisees with validation calls
- How to manage the franchise validation process
- Validation conference calls
- Listen to franchisees and build support program around that
- Supporting single-unit operators versus multi-unit operators and area developers
- Don’t grow faster than you can support your system
- Tracking Validation
- Communicating / Coaching franchisees before the validation call
- “Download” meeting with prospect after the validation call
- Evaluate how well candidate assesses information from validation call
Pete Baldine
Moran Family of Brands
pbaldine@moranbrands.com
708-297-2240
Kit Vinson
FranMan Inc. (Franchise Manuals)
Kit.vinson@franman.net
214-736-3939 x1
