When you think about franchise sales, one thing should stand out—no two processes are the same. Every franchise offering is unique, so your approach to sales needs to reflect that uniqueness. But too often, franchisors fall into the trap of borrowing a process that worked for another brand and hoping it’ll work for them. The…
In business, surrounding yourself only with like-minded individuals can be a fast track to mediocrity. Comfort zones may feel safe, but they’re where innovation goes to die. The best ideas come from the intersection of diverse perspectives, not from a room full of people who all agree with each other. If everyone’s thinking alike, then…
The “Know, Like, and Trust” mantra is one of those concepts that sounds great on paper but can be a stumbling block for many sales professionals. The reality is that following this principle too closely often leads to failure. Here’s why: Relationship Over Substance: If you spend all your time trying to be liked or…
When it comes to professional development, leadership often steals the spotlight. We’re flooded with advice on becoming effective leaders, especially focusing on “servant leadership” – a philosophy where the primary aim is to serve others. But there’s another crucial element in our careers that doesn’t get the attention it deserves: followership. Have you ever stopped…
Introduction For franchisor leaders and their teams growing a franchise system is challenging. According to the 2016 Franchisor Database Breakdown by Rob Bond, 34.2% (1378) of franchisors in North America have 5 or fewer units, and 51.6% (2081) of franchisors have 20 or fewer units. This data highlights the significant number of franchisors operating on…
Introduction “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” This famous observation by John Wanamaker aptly captures the dilemma many franchisors face today. Navigating the complexities of franchise recruitment marketing is daunting, with estimates suggesting that 80% of the marketing spend may not directly contribute to…
Running a franchise can be tough. You’re juggling multiple locations, managing employees, and keeping everyone on the same page. And if you’re using SharePoint as your internal communication tool, well, let’s just say it’s not making things any easier. SharePoint is powerful, but it’s also complex and expensive. It requires ongoing IT support and customization,…
Addressing the challenges of franchise operations and the forgetting curve requires a tech-forward dynamic approach to how information and updates are distributed and reinforced within the franchise network. Below are solutions that leverage technology to combat these issues effectively: Solutions to Combat the Forgetting Curve and Enhance Compliance 1. Cloud-Based Operations Manual: Implement a cloud-based…
In the intricate process of franchise recruitment, it’s crucial to tailor your approach to the diverse needs of prospective franchisees and understand the non-linear nature of these complex sales. Utilizing Neil Rackham’s SPIN Selling framework, integrated with a clear articulation of your Franchise Value Proposition (FVP), can significantly enhance how you attract and engage potential…
Recruit the Right Franchisees and Achieve Item 6 Supplier Status in Franchise Systems with Linkedin LinkedIn’s expansive professional network offers a powerful platform not only for direct sales but also for the nuanced areas of franchise development and supplier engagement. By adopting a hub-and-spoke model, both franchisors and suppliers can maximize LinkedIn’s capabilities to enhance…
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