Shows
Franchise Rocket Fuel | FRANXS3 E51: The Multi Unit Franchisee, is there value in these operators?Is selling franchises to multi-unit franchisees a part of your franchise development growth strategy? If so you're not alone and in this weeks FranX episode we dive into what really qualifies as a legitimate multi-unit franchisee and whether or not its fools gold to spend your development dollars in attempting to attract them.
Takeaways
Most emerging franchisors are not ready to sell franchises to genuine multi-unit franchisee operators
Multi-Unit franchisees need to be qualified differently from individual unit franchisees
The best multi-unit growth strategy may be to build from within by coaching and elevating your franchisees t...2022-11-1021 minFranchise Rocket Fuel | FRANXS3 E49: Google Analytics and the Predictability of Lead GenerationBefore there was a lead, there was a visit. Before there was a visit, there was a franchise education moment. How can you add predictability to your lead outcomes.
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JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645192902412592022-10-2822 minFranchise Rocket Fuel | FRANXS3 E 48: When is it Time to Change Your Franchise Sales Team?It's not you, it's me. When is the right time to change out your sales team?
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JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645192902412592022-10-2424 minFranchise Rocket Fuel | FRANXS3 E47: Should You Buy a Franchise During a Recession?In this episode of FranX, we talk about what happens if you buy a franchise during a recession. What do you think?
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JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645192902412592022-10-0724 minFranchise Rocket Fuel | FRANXS3 E46: What Trips Up Candidates when Buying a FranchiseFranX dives into the process and the landmines that zors and zees experience.
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JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645192902412592022-09-2929 minFranchise Rocket Fuel | FRANXS3 E45: What Can Go Wrong in the Franchise Sales ProcessWhat is important to candidates in the sales process? What can turn them off?
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JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645192902412592022-09-2921 minFranchise Rocket Fuel | FRANXS3 E44: What Zees Need to Know About Capitalization | Ultimate Guide to Buying a FranchiseCREATE YOUR FREE FRANX PROFILE: https://franxlaunch.com/
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JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/14645192902412592022-09-0917 minFranchise Rocket Fuel | FRANXS3 E43: How to Buy a Service Based Franchise | Ultimate Guide to Buying a FranchiseCharles N. Internicola and Brent Dowling talk about why service based franchises are the talk of franchising.
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Franchise Rocket Fuel | FRANXS3 E42: Ultimate Guide to Buying a FranchiseWhat is the process of buying a franchise and how should a prospective buyer go about starting the journey.
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Franchise Rocket Fuel | FRANXS3 E41: Mistakes to Avoid when Franchising Your BusinessWhen is the right time to franchise? How do you do it? Join franchise lawyer Charles N. Internicola and Nick Powills.
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Franchise Rocket Fuel | FRANXS3 E40: Top 5 Things Zors, Zees, and Suppliers Tend to do RightLet's focus on the good. We will, as a community, build the top 5 lists (which will turn into great content).
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Franchise Rocket Fuel | FRANXS3 E39: To Bash the Competition or Not, That is the QuestionIs it better to bring down the competition to lift yourself up or does this make your situation worse? Charles N. Internicola and Nick Powils give reasons why you should or should not bash the competition.
1. Instead of bashing the competition, bring up your positives.
When someone asks you to differentiate yourself from another competitor, describe the positive attributes that you provide and how this makes you a successful business.
2. If you bash the competitors, what stops them from blaming others for their mistakes?
When getting into a business with a busi...2022-08-0425 min
Franchise Rocket Fuel | FRANXS3 E38: How I Would Research Buying a FranchiseWhat is the process of researching a franchise opportunity? Charles N. Internicola and Nick Powills provide you with insights to the holes you have to fill.
1. Narrowing down the interested brands when researching.
After starting with a quick Google search of a brand, you have to go through and narrow the amount of businesses down to between three to five that interest you and would be a consideration when becoming a franchisee.
2. Doing the due diligence.
By doing the due diligence, you specifically are able to look into the brand that you a...2022-07-2822 min
Franchise Rocket Fuel | FRANXS3 E37: How Human Interaction Impacts the Franchise Sales ProcessHuman interaction in life is one of the most significant things in the world. It is a helpful tool to use in the franchise sales process. This time, Charles N. Internicola and Dawn Abbamondi discuss the impacts that human interaction has on the franchise sales process.
1. Provides information with one another better than over an email or text.
Meeting in person gives each person a connection to one another to truly say what they need to say and that makes it more valuable to the person compared to over text or email.
2. Build upon o...2022-07-2120 min
Franchise Rocket Fuel | FRANXS3 E36: The Number One Thing You Can do Today to Help You Sell a FranchiseWant to learn how to sell a franchise today. Nick Powils and Charles N. Internicola recommend these things when selling franchises.
1. Overcome your obstacles.
If your business is facing problems alone before franchising, then your business will be unappealing to prospective franchisees. By solving these problems, the franchisees will and should want to come to your business and not avoid you.
2. Make your franchisees happy.
When franchisees are happy, they will tell everyone about it and possibly recommend franchising to others. When franchises are unhappy, they will tell everyone about it and w...2022-07-1520 min
Franchise Rocket Fuel | FRANXS3 E35: How to Get Rich Owning a Franchise 101Can franchisees get rich from buying franchises? Wouldn't you want to know the answer. Join Nick Powills and Charles N. Internicola and figure out the ways to become rich from franchising.
1. Being committed to the franchise.
Most people are in the franchise business for the money, so when the money isn't coming in according to expectations, don't waver hope. Keep pushing the business and work hard to make yourself become rich and successful.
2. Reading the FDD of the franchise.
By reading the FDD and checking out the Item 19s, Item 20s, or a...2022-07-1424 min
Franchise Rocket Fuel | FRANXS3 E34: How to sell your first franchiseSelling your first franchise WILL be challenging. How can franchisors approach this process? How should pioneer franchisee approach a new franchisor? Join Charles N. Internicola and Nick Powills as they figure out how to sell that first franchise.
1. Make sure you are ready to franchise in the first place.
No business should rush into hasty decisions and that includes franchising. Just think long and hard if franchising is the best way to help your business grow and become more successful.
2. Have experienced people give you advice.
People who have been in yo...2022-07-1233 min
Franchise Rocket Fuel | FRANXS3 E33: Purpose, Value and Structure of Franchise FeesFranchise Fees: What is high? What is low? What is right? What is wrong? Charles N. Internicola and Nick Powills give a few insights on the information that you need.
1. Purpose: Franchise fees may pay for the brokers expenses.
With a broker involved in a purchase of a franchise, they are owed a sum of money for their services to the business. Most likely the franchise fee will cover the money that the broker is owed and the franchisee will now have the license to use the products from the business.
2. Value: Higher fr...2022-07-1229 min
Franchise Rocket Fuel | FRANXS3 E32: The Biggest Mistakes Franchisors Make when in Growth ModeJoin special guest Brian Lincer (https://www.linkedin.com/in/brian-lincer-57a98a12/) as he appears alongside Nick Powills to discuss what he sees and hears when working with franchisors, while discussing the biggest mistakes that franchisors make when they are in growth mode.
1. Having enough capital to grow the business.
Brian explains how interest rates have risen a whole point over the last day. This puts many people in difficult positions as now they may not have enough capital to fully support the business.
2. Thinking there are no options.
If they...2022-07-1221 min
Franchise Rocket Fuel | FRANXS3 E31: What Should Franchisors Do During a RecessionRecession?
According to JP Morgan President Jamie Dimon, an economic hurricane approaching?
No matter, your viewpoint, there's turbulence ahead! So, is now the time to hit the panic button? Cut spending on franchise development? ...
Join Charles N. Internicola and Nick Powills as they discuss what franchisors should do during a recession.
1. Refocus your energy and support.
As a franchisor, a recession could be a time to take a step back and truly think and reflect on the company. This is the best time to check for changes that could make yo...2022-07-1220 min
Franchise Rocket Fuel | FRANXS3 E30: Franchise Expos - The Good & The BadFranchisors want one thing -- leads. Thus, many sign-up to exhibit at franchise shows/expos. Is it worth it? How can you increase the value? Franchisees want access to inventory. For them, is it worth it? With Nick Powills and Charles N. Internicola, they will discuss the good and the bad of franchise expos.
The GOOD:
1. Helpful to learn the brands when just starting.
f a person wants to buy a franchise, but has no experience to start, then franchise expos can be helpful ways to learn about what businesses and the types of...2022-07-1222 min
Franchise Rocket Fuel | FRANXS3 E29: What Franchise Consultants Aren't Telling You About FranchisingWant to franchise your business? Are you an emerging franchisor? Nick Powills and Charles N. Internicola will talk about the secrets and facts franchise consultants aren't telling you about the process to becoming a GREAT franchisor.
1. Having the right expectations.
If a business just started a franchise and is disappointed they didn't have 25 units of the franchise as quickly as they expected, they may get discouraged easily. By having the right expectations, you can learn to be more patient with the business.
2. Selling the first franchise is the most difficult time.
When...2022-07-1223 min
Franchise Rocket Fuel | FRANXS3 E28: Best Ways to Gain Lift with Franchise BrokersQuarter 2 is ending as we approach the midpoint of 2022 and now its time to discuss ways to accelerate your business for the rest of the year. Charles N. Internicola and Nick Powills describe the best ways to gain lift with franchise brokers.
1. Have traffic coming to your site.
Best ways to get people to franchise is for people to get involved in your business and the way to do that is by having traffic to your site, where the prospective franchisee has your business on their mind.
2. Don't blame the brokers too quickly.
2022-07-1226 min
Franchise Rocket Fuel | FRANXS3 E27: Everything You Need to Know About Working with Franchise BrokersWhat are the best ways to get lift with the franchise broker networks? Join Nick Powills and Charles N. Internicola as they tell you the main things that you should know about franchise brokers.
1. Having a good business plan is important.
A good business model is very important for the franchise broker to suggest your business. The brokers know when the plan is either good or bad, so making sure to have a good one is significant to the business.
2. Competitive commission helps.
Franchisors have to be competitive with the franchise broker...2022-07-1222 min
Franchise Rocket Fuel | FRANXS3 E26: VaVia Franchisee Clark McCarthy: Why I BoughtMeet Clark McCarthy, franchisee of VaVia. What was his process? What did he evaluate? What made him say yes? Learn more on this episode of FranX. Learn about the 3 main reasons why Clark McCarthy became a franchisee of VaVia with Nick Powills.
1. Clark was looking for something new.
Clark had originally been an educator and a soccer coach at the University of South Carolina. He thought it was right for a change and this led him to become a franchisee n ViVia today.
2. Great people to work with.
When in discussion with...2022-07-1220 min
Franchise Rocket Fuel | FRANXS3 E25: How to Win as a Franchise SupplierBeing a franchise supplier can be amazing and extremely rewarding – once you gain momentum. Thus, many try desperately to break in, have impact and spark growth – leveraging proof of concept for one franchisor to add others.
Yet, many fail.
Why?
Franchise suppliers can also be the new shiny object for franchisors.
SupplierX states anything impactful on lead generation and every franchisor jumps on the opportunity to try the new shiny tactic, yes, quiet too often, that shiny new supplier fizzles out, unable to sustain the fancy magic they sell.
So...2022-07-1220 min
Franchise Rocket Fuel | FRANXS3 E24: Great Franchise Sales Folks Are Sometimes DismissedIn franchising, far too often, the sales team is discarded as useless by leadership teams for lack of “selling” enough franchises. Yet, per our previous Bottom Thoughts, often times, the right data isn’t used to justify that opinion.
Do you, as a franchisor, understand the value of the deal? Do you assume it’s just the $30,000 franchise fee? Or, do you look at the depth of royalty payments to your brand’s bottom line over a period of time?
Do you evaluate the cost per deal (vastly more valuable than the cost per lead)? Do you use...2022-07-1229 min
Franchise Rocket Fuel | FRANXS3 E23: Biggby Coffee Franchisor Mike McFall talks about what it means to WinWith nearly 25 years of experience in franchising, McFall reflects on what it takes to thrive - and how to define success on your own terms. What does this franchisor look for in franchise owners? How does he define winning? What are the dreams for the brand?
Join Nick Powills and Charles N. Internicola as they discuss with Mike McFall what it means to win.
1. Large demand for franchise sales.
When there is a large demand for franchises to become open for a single company, then the business is bound to win and become suc...2022-07-1232 min
Franchise Rocket Fuel | FRANXS3 E22: Tint World Franchisee Myriam Guerrero: Why I BoughtTint World's franchisee, Myriam Guerrero discusses why her and her husband, Alex Guerrero, opened a Tint World in Texas.
With Charles N. Internicola and Nick Powills, they will explain why Myriam Guerrero opened up a franchise of Tint World with her husband.
1. Her husband wanted an enjoyable new job.
Myriam's husband, Alex, had been in the military for 28 years all the way from when he was 18-years-old and now that he was retiring, he wanted to find a new job that he would enjoy and live the rest of his life working with and...2022-07-1220 min
Franchise Rocket Fuel | FRANXS3 E21: How Youth Athletes United Franchisor John Erlandson found SuccessAs a successful executive, John Erlandson had everything he needed. But after risking it all, he found what he wanted - in franchising.
Nick Powills and Charles N. Internicola discuss with John Erlandson how he found success with Youth Athletes United.
1. True passion for the business.
John Erlandson truly wanted to help people in his community and he found one of the best ways to do it. He truly cared for the community of people that he was helping and this allowed him to have success more than others.
2. No care for...2022-07-1234 min
Franchise Rocket Fuel | FRANXS3 E20: Go Mini's Franchisee Matthew Stapleford's StoryAfter a nonlinear path from college to entrepreneurship, Stapleford discovered a new avenue for success in the franchise world.
Come listen to Matthew Stapleford as he joins Charles N. Internicola and Nick Powills as they discuss the reasons why Matthew bought Go Mini's.
1. Responsiveness of Go Mini's.
When Matthew reached out to Go Mini's about franchising, it didn't take long for them to be in constant contact with one another. After meany pleasant conversations with one another, Matthew decided it was the right business for him.
2. Helpfulness of Go Mini's.
When...2022-07-1220 min
Franchise Rocket Fuel | FRANXS3 E19: What Property Management Inc. wants out of FranchiseesMeet Danessa Itaya, President of Property Management Inc. (https://www.linkedin.com/in/danessa-itaya-87397615/). What does she want out of franchising? What is success?
Danessa Itaya joins Charles N. Internicola and Nick Powills to discuss her franchising story.
1. Adaptive business model.
Covid was a hard time for everyone, but Danessa needed to adapt her business, so that it could survive this challenging time. But adapting her business model to the time, she was able to not only survive, but also thrive in one of the most difficult times.
2. Fixing and growing past...2022-07-1217 min
Franchise Rocket Fuel | FRANXS3 E18: Lightbridge Academy Franchisee Manan Shah | Why I BoughtA discussion with Manan Shah, Lightbridge Academy: “When we learned of Lightbridge Academy, we saw how family-oriented and hands-on they were,” Manan said. “That’s tough to find in franchising because once a brand hits a certain level, it is usually not as accessible and we wanted to be face to face with key people in the organization. With Lightbridge, I know that if I call anyone at the Home Office, and they’ll pick up and find the time to talk to me. We really appreciate how the corporate team treats us like family.”
Manan Shah, Lightbridge...2022-07-1216 min
Franchise Rocket Fuel | FRANXS3 E17: Footprints Floors Franchisee Adnan Alhaide | Why I BoughtEntering his second year as a franchisee, Alhaide discusses why he bought a franchise from Footprints Floors - and what he's learning along the way.
Nick Powills and Charles N. Internicola listen to Adnan Alhaide on his story on why he bought Footprint Floors.
1. Desire to control a business.
Adnan describes how he always wanted to start or own a business of his own when he had the idea of what he wanted to do with his life. His desires led him to franchising and becoming a franchisee of Footprint Floors.
2. Work...2022-07-1216 min
Franchise Rocket Fuel | FRANXS3 E16: Hounds Town USA CEO Jackie Bondanza | Why You Why NowWhat I want out of franchisee, our process and our scale: Featuring Jackie Bondanza, CEO of Hounds Town USA.
Hounds Town USA's CEO, Jackie Bondanza, talks with Charles N. Internicola and Nick Powills on why she decided to franchise her business.
1. Saw the need that people weren't recognizing.
Jackie walked into the store as a customer over 10 years ago and noticed the need for the business in today's world. This led her to getting involved in the business and helping it to have many franchises all over the United States.
2. Background...2022-07-1218 min
Franchise Rocket Fuel | FRANXS3 E15: Meet the Zor: Sheri Winesett of Intellegent Leadership Executive Coaching | Why You Why NowCharles Internicola and Ben are joined by Sheri Winesett of Intelligent Leadership Executive Coaching to talk about her franchising story.
1. Sometimes get lucky.
Sheri's plan was to launch the business virtually in April of 2020 and that happens to be a month after Covid hit and everything was shut down and virtual anyway. This allowed her business to flourish as the virtual model allowed her business to stay intact during the pandemic.
2. Working alongside her franchisees.
When most people become a franchisee, the franchise is most likely their first time owning a franc...2022-07-1116 min
Franchise Rocket Fuel | FRANXS3 E14: Meet the Zee: Ted Beaman MOOYAH Franchisee | How and Why they BoughtTed Beaman, who bought a MOOYAH Franchise talks with Charles about his story.
Franchisee, Ted Beaman, sits down with Charles N. Internicola to discuss why he became a franchisee of MOOYAH.
1. Background in the restaurant business.
When Ted was looking for a franchise to be a franchisee of, he found a business that was in the restaurant business already. He had already working in three different casual dining brands, which helped him to fit into the business.
2. Background in the franchising business.
Not only did Ted have a background in the r...2022-07-1111 min
Franchise Rocket Fuel | FRANXS3 E13: The Exit In MindGood businesses always take charge of every aspect of their franchise and that includes the end of the franchise. Nick and Charles drive home this important point, so you never forget it.
Join Nick Powills and Charles N. Internicola as they discuss the importance of the exit in mind.
1. The exit should be in your mind from the beginning.
Whenever a smart businessman or smart businesswoman is into a business, they should think of the exit as soon as they think of the beginning. This will allow the person to think ahead for the...2022-07-1124 min
Franchise Rocket Fuel | FRANXS3 E12: When do Multi-Unit Franchisees Diversify their PortfoliosWhen is the right time to diversify portfolios of a multi-unit franchisee? That seems like a challenging question, but Nick and Charles are ready to break it down.
Join Nick Powills and Charles N. Internicola as they discuss the best times for multi-unit franchises to diversify their portfolios
1. Understanding the brand.
Each business is different and knowing the right time comes down to the individual or individuals that run the business. his means that that person or group of people have to understand from either prior experiences or examples of when to diversify the...2022-07-1125 min
Franchise Rocket Fuel | FRANXS3 E11: The Hunt for the Great Multi Unit FranchiseeThe aha moment many franchisors have is the aha moment when they discover that multi-unit franchisees are easier to work with, grow with, and sell with.
“By gosh, I got it,” said the Franchisor. “We will only market to multi-unit franchisees – the biggest, the brightest, the best. And they will come in droves. They will desire our brand and grow with it. We will take over the franchise world, (dark laugh) ha, ha, ha, ha.”
Then the tires screech, as they pull up to the franchise parking lot full of others who have figured out their aha...2022-07-1123 min
Franchise Rocket Fuel | FRANXS3 E10: Reinvesting in Your Business as a Multi-Unit Franchise OwnerIf you want to grow as a multi-unit franchise owner, you have to be willing to reinvest in the business over, and over, and over again.
Listen to Charles N. Internicola and Nick Powills as they teach you the best ways to reinvest in your business as a multi-unit franchise owner.
1. Maintaining reserve capital.
When a person reserves capital for the business, they are holding on to funds that are not being used and rather being held in cases of emergency. This allows for the business to survive in the worst possible condition as...2022-07-1122 min
Franchise Rocket Fuel | FRANXS3 E9: What Multi-Unit Franchise Owners Should Spend on MarketingIn order to be a multi-unit franchise owner, you have to be willing to invest. How much should you budget on marketing?
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Franchise Rocket Fuel | FRANXS3 E8: Building Your Business Plan & Opening Your FranchiseSo, you have decided to become a franchisee. What happens next? N&C discuss.
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Franchise Rocket Fuel | FRANXS3 E7: Can you Negotiate your Franchise Agreement?What parts of the FDD are up for debate? N&C will discuss
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Franchise Rocket Fuel | FRANXS3 E6: What Questions Should You Ask at Discovery DayWe'll talk with a franchisor about questions they would recommend the franchise buyer asks during a discovery day.
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Franchise Rocket Fuel | FRANXS3 E5: What to Expect When Inquiring to a FranchisorIt can be super frustrating to get a qualified lead and have them ghost you. We'll talk with a franchisor about what it feels like on the other side!
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Franchise Rocket Fuel | FRANXS3 E4: The Secrets to Blind Due Diligence (ZORS ZEES)We were talking with a prospective franchisee this week (it’s fun to be the qualifier) and we asked about their due diligence.
He is a former franchisee and looking for his next restaurant concept.
Here’s what he said:
I have been to a few different restaurants and wondered why there aren’t more
I looked at the Website multiple times
I read stories and content around the web and see that the brand is excited about growth
N&C get at it.
CREATE YOUR FREE FRANX PROFILE...2022-07-1116 min
Franchise Rocket Fuel | FRANXS3 E3: FRANCHISEES: How to Research a Franchise CategoryHow do you do your due diligence on a franchise category? What you should know? What you should ask? What you should see.
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Franchise Rocket Fuel | FRANXS3 E2: Buying a Franchise: What can I afford?Buying a franchise sounds exciting. Well it should be a great step in a hopefully successful journey, but how do you know if that company you can afford. Talk with Nick and Charles to hear they takes on buying a franchise.
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Franchise Rocket Fuel | FRANXS3 E1: Understanding Your Franchise Sales BudgetSure, 2022 has begun, but that doesn't mean you should be prepared to wiggle and dance your way through your budget, budgeting and deployment. N&C will talk $$$.
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Franchise Rocket Fuel | FRANXS2 E55: Goodbye to 2021Yay! 2021 has officially come to an end. Start making those New Year's Resolutions and end the year and start the next year on a positive note.
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Franchise Rocket Fuel | FRANXS2 E54: Everything you want to know about legal in franchisingWith Charles an expert in the legal side of franchising, Charles discusses along with Nick all you to know to be successful.
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Franchise Rocket Fuel | FRANXS2 E53: Selling FranchisesScott Thompson joins the show along with Nick to discuss how he brought franchises up and then sold those franchises for eventual profits.
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Franchise Rocket Fuel | FRANXS2 E52: Franchise Success StrategiesJoin Nick & Charles in a discussion with Threshold Brand's Scott Sutton about some successful strategies to help progress your franchise.
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Franchise Rocket Fuel | FRANXS2 E51: Budgeting and Deploying Franchise Sales StrategyMost successful things start with a plan and a strategy to continue success. Join Nick & Charles in a discussion with Raintree's Brent Dowling and how to have a plan when deploying franchise sales.
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Franchise Rocket Fuel | FRANXS2 E50: What Franchising is and Should You FranchiseFranchising is a beautiful thing for many businesses. It is a two-way street of opportunity -- both for franchisors and franchisees alike.
Why do entrepreneurs franchise?
Most likely it is a combination of reasons:
They have created a model they believe is scalable and can be duplicated.
They may or may not have the financial resources to scale at the pace the market demands, thus, are willing to allow others into the business in exchange for royalty and to offset speed and cost to expand.
Someone asked them about...2022-07-1130 min
Franchise Rocket Fuel | FRANXS2 E49: Why do franchises even franchise?Fortunately or unfortunately, there are a lot of franchises out there. You could go on a stream of options, like like Benjamin Buford “Bubba” Blue could with shrimp.
Dog poop picking up franchises.
Pet food franchises.
Pet grooming franchises, that are brick & mortar.
Mobile grooming franchises.
Dog walking franchises.
Dog hotel franchises.
Cat hotel franchises.
Dog training franchises.
Shall we continue?
So, often times, a franchise isn’t created because it is a new idea (should we go down pizza...2022-07-1132 min
Franchise Rocket Fuel | FRANXS2 E48: Measuring your ROI when it comes to Franchise SalesHow do you measure your ROI when it comes to franchise sales, the broker networks and your growth. What should you expect on ROI from franchise marketing?
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Franchise Rocket Fuel | FRANXS2 E47: Tricks to Encouraging Franchise Brokers to Push Your FranchiseDo you want your franchise to grow? I would certainly want mine to grow. Learn these tricks with N&C to figure out how to encourage franchise brokers to push your franchise.
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Franchise Rocket Fuel | FRANXS2 E46: Marketing to Franchise Brokers - Tips & TricksFranchise brokers need to be marketed to in a similar way to franchise prospects for very similar reasons as a prospect:
- Education of your why you/why now
- Support in understanding the value proposition of your franchise brand
- News updates to create excitement
In many cases, franchise brokers don’t have a relationship with your brand. Even if they have placed a few candidates with your brand, they still don’t live and breathe your brand the way you do. So, as a part of your marketing strategy to t...2022-07-1120 min
Franchise Rocket Fuel | FRANXS2 E45: How to pat more Broker’s backsYou are standing at a franchise fork in the road (go with us for a moment). At this fork, you, as a franchise broker have to make a specific decision. The decision is between franchise brands, and for argument’s sake, they both occupy the same space – senior care. Brand A has higher performing AUVs, a seasoned and tenured leadership team, and franchisees swallowing up more territory.
Brand B is slightly behind A in all of those categories.
Brand A’s franchise fee is $50,000 – used to be $30,000, but jumped it up to $50,000 to pay the broker co...2022-07-1125 min
Franchise Rocket Fuel | FRANXS2 E44: Laws, Rules & Regulations of Working with Franchise BrokersGood thing we have a resident lawyer on the FranX team. Sir Chuck will guide us through the rules and regulations of working with franchise brokers.
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Franchise Rocket Fuel | FRANXS2 E43: How to Determine Which Broker System Best Aligns with your Goals?Hey there, good lookin’. Can I buy you a drink?
How to start a relationship & How to Determine which broker system best aligns with your goals?
It’s not as easy as deciding you want to use the brokers, paying an entry fee and magically selling franchises. Truthfully, it is all about the relationship.
N&C get at it on this week's FranX.
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Franchise Rocket Fuel | FRANXS2 E42: What is a Franchise Broker and How do they Help You Grow Your FranchiseEven though they are the talk of the franchise industry, many franchisors don't know how to best use the broker network. Yet, when leveraged correctly, they can help you grow. N&C discuss.
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Franchise Rocket Fuel | FRANXS2 E41: How to Win with Franchise BrokersGet me more deals. Lots of them. Like, really, lots of them. How can franchisors win with the franchise brokers. N&C discuss.
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Franchise Rocket Fuel | FRANXS2 E40: What Causes Franchisees to Fail?Is it the zor? Is it the training? Is it the qualification? What causes franchisees to fail?
N&C get at it -- and you can, too. Join in the conversation by placing a comment below.
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Franchise Rocket Fuel | FRANXS2 E39: The franchisees are coming! Are you ready?It's been quite some time since a big layoff was connected to economic behavior (ala 2008). Is another one coming? Are there going to be shifts in the labor market that are going to encourage new franchisees to be born? Why do franchisees buy in turbulence?
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Franchise Rocket Fuel | FRANXS2 E38: How to fool franchisees with the use of Item 19Want to trick buyers into buying your franchise? Of course you don't -- let's not be silly. How can you use Item 19 to tell your story? What information should you put in? Why doesn't there seem to be universal Item 19 best practices?
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Franchise Rocket Fuel | FRANXS2 E37: My franchisees don't listen, so, this is what I'm going to doBad franchisees. They cause so many grey hairs. What can you do about it? N&C dive in. Join in the conversation by leaving a comment below.
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Franchise Rocket Fuel | FRANXS2 E36: Did you hear of the franchisee that went bungee jumpingOf course not. Why? The franchisee is risk averse.
However, that just may be the most important insight of your next level franchise sales. N&C get at it.
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Franchise Rocket Fuel | FRANXS2 E35: 5 Burning Franchise Questions and The Truthful AnswersQuestion 1: Will franchise expos/shows/conferences return?
Question 2: Can brokers solve your development woes?
Question 3: If I want to double my growth in 2022, what should I do right this second?
Question 4: What truths need to be in Item 19 to win at franchising?
Question 5: What bold predictions can be made for 2022?
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Franchise Rocket Fuel | FRANXS2 E34: What's Your Franchise Cost Per Deal?Cost Per Deal. It's a franchise buzz term that is typically backed by unicorns (meaning, we make up magical, not real numbers). Unicorn numbers are certainly franchise widespread, but does it have to be? What is your real data and what is it telling you about your growth? N&C get at it.
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Franchise Rocket Fuel | FRANXS2 E33: Does Money Sell More Franchises?What if you were to say screw it and take a ton of money and put it into frandev. Would that drive more leads and deals? Could you take those funds today and create immediate actions? Kind of. N&C get into it.
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Franchise Rocket Fuel | FRANXS2 E32: The COVID is coming, The COVID is comingWell, here we are again -- fear over this awful thing called COVID. Is it time to panic? Is it time to backcast? Is it time to increase your spends? N&C discuss.
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Franchise Rocket Fuel | FRANXS2 E31: In Franchising, No Means MaybeWhen it comes to selling franchises, sometimes sales teams are forced to advocate for a candidate, even though they are not 100 percent confident that candidate will be a great franchise owner. Why? Forces from above. Duh. How can you change this? How can you change your selling culture? N&C discuss.
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Franchise Rocket Fuel | FRANXS2 E30: When Franchise Marketing and Franchise Sales CollideWhen the marketing and franchise teams gel, so does the brand. What rocks should you lift up to find more of the right deals? How do you introduce franchising to the consumers? How do you get marketing onboard with franchise growth? N&C get at it.
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Franchise Rocket Fuel | FRANXS2 E29: No One Cares About Cost Per Lead in FranchisingPeople can receive many leads in a certain period, but what does this actually do when the business is only talking to a few of those leads. Trying to optimize the cost per lead in franchising may be difficult. Join N&C to figure out why people don't care about the cost of leads in franchising.
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Franchise Rocket Fuel | FRANXS2 E28: Why franchise brands are constantly chasing INSERT WORDWhy are franchise brands constantly chasing INSERT WORD? What is INSERT WORD you may ask? Watch Nick and Charles explain and help you learn along the way.
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Franchise Rocket Fuel | FRANXS2 E27: Your FDD Means Nothing to My LawyerWelcome! Charles is back after missing last episode and is ready to discuss with Nick how legal FDD affects lawyers.
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Franchise Rocket Fuel | FRANXS2 E26: Gimme More #freefranchisingGimme more. More business. More growth. More Nick. Nick is alone this time trying to teach you about wanting more, so tune in and see how Nick goes without Charles.
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Franchise Rocket Fuel | FRANXS2 E25: Franchise Digital Advertising for DummiesNo one wants to be a dummy, especially a dummy in franchise digital advertising. Dummies are not successful so let's be successful and become a smarty. Join N&C to figure out the best ways to no longer be a dummy.
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Franchise Rocket Fuel | FRANXS2 E24: What Makes Franchise Prospects Buy FranchisesWhat makes Franchisees say yes to the Franchisor? A good smile doesn't allow them to get the business, so what makes these people say yes? Join Nick and Charles and figure out the answer to these questions.
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Franchise Rocket Fuel | FRANXS2 E23: FranCreepers are Watching You, What to doIf you are telling the truth, and we mean, really telling the truth, you know you have creeped on someone before. Whether that was an ex, a prospect, a prospective employee -- or the list can go on (and get far worse). Curiosity killed the cat, but it also is a part of what we do as humans.
Buying a franchise is no different.
Prospects don’t magically wake up one day and say, “Wow, I have always wanted to buy a Bob’s Burgers -- let me go to the franchise site, inquire and buy. Wo...2022-07-1116 min
Franchise Rocket Fuel | FRANXS2 E22: Understanding Your Budget When Buying a FranchiseBudget is one of the most important aspects that define a business. When buying a franchise the budget that you have should be the determining factor in buying the franchise in the first place. Join N&C to figure out how budget fits into the situation when buying a franchise.
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Franchise Rocket Fuel | FRANXS2 E21: Case Closed: How to Solve a Franchise Murder Mystery"Would you buy this franchise again?" Sir Prospect asks. "Um, maybe," Madam Franchisee says.
And just like that, the murder of Bob's Bagels -- once noted as the fastest growing franchise east of the Mississippi -- has begun.
Now, for the most part Bob's Bagels was not a bad franchise. Point of differentiation -- bagels that didn't have the hole in it. Unit Level Economics -- category leader. Cost to get in? Reasonable. But when Madam Franchisee was not happy with the support she got when Cathy's Coffee (that also sold bagels) opened down the blo...2022-07-1119 min
Franchise Rocket Fuel | FRANXS2 E20: How to get Rich Owning a FranchiseRich. When you buy a franchise, that's what should happen -- right? N&C will dive into the question: Can you get rich owning a franchise. Add questions/comments below for discussion.
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Franchise Rocket Fuel | FRANXS2 E19: Resales don't count toward goals, duhWhy would anyone care about a resale? Franchise sales peeps can't count that toward goals, bro. Or is that the wrong mindset? Join in with C&N, the most influential podcasters/live streamers in franchising (that's really not saying much).
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Franchise Rocket Fuel | FRANXS2 E18: Doubling the Size of your Franchise SystemImagine saying that you could double the size of your franchise system. Who wouldn't want to do that? Don't say that it can't happen. Nick and Charles discuss what it takes to get you to double the size over the next year.
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Franchise Rocket Fuel | FRANXS2 E17: Buying a Franchise 101 (What You NEED to know BEFORE you Buy a Franchise)Charles N. Internicola and Nick Powills of FRANX talk about what you need to know about buying a franchise including:
1. If Buying a Franchise is Right (or Wrong) for You
- Franchise Ownership vs. Entrepreneurship
- Difference between buying an individual unit vs. multi-unit ownership
2. Franchise Buying Basics
- Where to Find Franchise Opportunities
- Franchise Brokers - the FDD
- the Franchise Agreement
- the Process
3. What to look for in a Franchise
- Start with the FDD
- Item...2022-07-1131 min
Franchise Rocket Fuel | FRANXS2 E16: Franchise Roulette: Why You, Why Now, Why MeBest this, best that. The bests of bests are wide and large in franchising. That is the start of the discovery for a franchise buyer.
What should I buy? Oh, I know, the best X brand.
They Google. They find. And then, they research. So, are you doing the same? Here’s a quick weekend opportunity to find a few gaps:
1. Google your brand + franchise. Take note of what you see and what is said. Are you consistent with your message? Is your franchise site at the top?
2. Now, go into your f...2022-07-1124 min
Franchise Rocket Fuel | FRANXS2 E15: How to Fire Your Head of Franchise DevelopmentIs your franchise underperforming? Are you ready to pass the blame onto the head of franchise sales? That person may be the problem, but most likely there is a bigger picture. Join Nick and Charles to figure out what gets franchises to this stage and how to grow past these situations.
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Franchise Rocket Fuel | FRANXS2 E14: Q2 2021 Planning for Franchisors | Brand StrategiesCharles Internicola and Nick Powills talk about task items franchisors should work on in Q2 of 2021.
Leads take time to mature. While, on occasion, single events can create impactful moments, most of your successes, especially in franchising, will come from steady Eddie execution.
So, now that we are in the second quarter of 2021, the activities you do in these three months will have tremendous impact in end of year results. A few things to consider:
1. If you're behind in franchise sales, increase spend. It may feel uncomfortable when you are not rockin’ the deals...2022-07-1121 min
Franchise Rocket Fuel | FRANXS2 E13: The War of the Franchise BrokersThe “it” conversation in franchising is all about, “How do I get the brokers to sell more of my franchises.”
Franchisors are banging their heads on walls, desks and FDDs trying to figure out the new secret to getting deals through the broker networks (* apologies to those who call themselves consultants, coaches, or tour guides -- you are still a broker). Yet, many franchisors are missing some of the important basics of deal building:
Relationships: Cultivate and build them.
Tools/Brand Resources: These folks are not in your brand. They don’t know your secrets...2022-07-1117 min
Franchise Rocket Fuel | FRANXS2 E12: Why You Should Not Sue Your FranchiseesAvoid franchisee lawsuits…
Sometimes they are inevitable... other times they are completely avoidable. Following the year of the pandemic, business closures, and small business challenge… it’s time to re-think your franchise agreements and legal relationships with your franchisees…
How can you make the lives of franchisee lawyers more difficult and less profitable?
1. Enlist Your Franchisees A franchise advisory council can be your “canary in the coal mine”. Embrace your FAC and use it as a tool to improve your system communication and as an early warning system.
2. Be Aware of State Franchise...2022-07-1121 min
Franchise Rocket Fuel | FRANXS2 E11: Franchising for Dummies Part 1 | Unit Level EconomicsYou franchise dummy. Are you offended or are you excited?
We. Pick. Happy.
The reality is, most of us are franchise dummies (apologies to the large egos who are saying, wait, now I’m offended). We go to francocktails asking, “what’s the secret in franchising?”
Nothing, you dummies.
Again, not a bad thing. Why? What's new is not new, it is fundamental. Strong unit level economics supporting a strong product backed by a powerful leadership team -- fundamentals.
So, now that you have them, what’s next?
How do you ge...2022-07-1118 min
Franchise Rocket Fuel | FRANXS2 E8: Stop Onboarding Bad Franchisees into your Franchise SystemYou are at a franchise cocktail party. Ok, not really -- more like a franchise zoom happy hour (lame, can’t wait for a real one).
The conversation swings toward franchisees. A sigh lets out. Ugg, we have a bad franchisee. Or, the ever so popular, “30 percent of franchisees are great, 30 percent are good, and 30 percent are bad.”
But, we bet you didn’t always feel that way. In fact, if you were to backcast (the FRANX fancy term), most likely, you loved them. In fact, when you took their $30,000 (and quickly paid it to a broker...2022-07-1117 min
Franchise Rocket Fuel | FRANXS1 E7: It's the FranX After PartyWhat do most winning brands have in common? How did this help them reach success? How important is a brand's story? N&C will take a closer look.
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Franchise Rocket Fuel | FRANXS1 E4: Stop, Collaborate and Listen to Maximize Franchise Sales ROIIf you want to maximize the ROI on your franchise sales and development dollars, you'll need to shift your mindset from franchise sales lead "generation" to lead "awareness." You're one of many brands and options for qualified franchisee candidates and winning is no longer determined by who gets to the prospect first or the fastest. In this FranX installment, Nick and Charles discuss guaranteed ways to increase your deal conversions and they required that you stop (what you're doing right now), collaborate (with your internal team to align your why you/why now), and listen (to what your prospects...2022-07-0820 min
Franchise Rocket Fuel | FRANXS1 E2: Do you Want to Get More Franchise Sales Leads?In the franchise world we hear it all the time ..."I want more franchise leads...damnit!"
But, do you really want more "leads" or, do you want more "deals"? In this FranX live stream Nick Powills and Charles Internicola discuss why the good to great franchise systems focus on "deal flow" and not "lead flow" and how this mindset shift can transform your franchise system.
Kicking off this discussion lets discuss:
1. Deal Value
2. Deal ROI; and
3. Deal Convertors.
This video sets the framework to shift you development practic...2022-07-0828 min
Franchise Rocket Fuel | FRANXS1 E1: Determining your Franchise Sales Deal ValueYou know the value of the franchise fees you collect when you sell a franchise but...do you know the "deal value" of each franchise that you sell?
Deal value is one of your most important franchise sales and franchise growth metrics. In this FranX live stream, Nick Powills and Charles Internicola discuss "deal value," how to determine it, and how to use it in planning your franchise sales / development budget and setting your 5 year strategic plan.
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SUBSCRIBE to our Channel: https://www.youtube.com/c...2022-07-0818 min