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…
As a guiding source putting John Kotter’s concepts from “Buy-In: Saving Your Good Idea from Getting Shot Down” for franchisor and franchise owners in franchise brands to work for you to get buy-in. Understanding Objections in Franchise Systems When a franchisor introduces new ideas or systems across the franchise network, they often face objections. These…
Yum Brands, the parent company of Taco Bell, Pizza Hut, KFC, and Habit Burger Grill, is investing heavily in AI to enhance its operations. The company’s vision is to create “AI-first” restaurants where AI plays a role in every aspect of the business, from order taking to kitchen management. Yum is using generative AI to…
For franchisors navigating the learning curve of the early stages of franchising is a complex process filled with potential pitfalls that can derail even the most promising ventures. As businesses embark on this path, understanding the intricacies of franchise management and growth becomes crucial. While comprehensive studies like the “Franchisor Database Breakdown – An Exhaustive…
Fast food, or QSR, has long been a go-to option for budget-conscious consumers, but a recent surge in prices is making it increasingly difficult for low-income families to afford. According to a recent study, QSR prices have risen by 20% since 2021. This increase is due to a number of factors, including rising food costs,…
Introduction- Lead Generation & Project Creep We provide qualified leads to both franchisors and suppliers, who have their own sales staff. Typically, our leads are “demo ready”. We have run into a problem, recently, with clients who are asking us, in essence to fix their broken demo model. In this article, we want to explain…
Franchise validation is a pivotal process for prospective franchisees, yet the approach can significantly differ between new entrants and seasoned multi-unit operators. First-time buyers often engage in validation with a focus on social interaction, missing out on critical financial and operational insights. In contrast, experienced operators demand that franchisors demonstrate the franchise’s investment worth, focusing…
In the competitive landscape of franchising, the journey to creating a standout franchise model is intricate and demanding. It requires a deep understanding that the most successful franchises are indeed greater than the sum of their parts. Each component, from the operational framework to the training modules, plays an indispensable role in defining a franchise’s…
Have you ever been frustrated by a broken ice cream machine? It’s a common problem, and one that can be especially annoying when you’re craving a cold, refreshing treat. But there’s good news on the horizon! The Federal Trade Commission and Department of Justice have recently requested that the US Copyright Office exempt commercial soft…
Hey there, LinkedIn users! Hey there, LinkedIn users! Get ready to level up your professional networking experience with the exciting news that LinkedIn is developing in-app games. That’s right, you’ll soon be able to engage in friendly competition and sharpen your skills while scrolling through your feed. Puzzle Power-Ups These games won’t be your typical…
End of content
End of content