Is creating an emotional bond or emotional engagement really what you’re
after when working with prospective candidates who are interested in your
franchise? If your job function is in franchise sales you’ll probably say
“Yes”. If you’re a CEO you’re likely thinking “No?”. The
nature of the franchisor-franchisee relationship is complex and must begin
with a proper alignment of expectations if you want to achieve long-term
viability.
By definition, an emotionally charged buyer is someone who makes a buying
decision based on feeling rather than rationale and reality. This creates
fertile ground for a misalignment of expectations; the consequences of which
are typically dire in franchising. But why is franchising different?
Well, in scenarios where you may be selling goods and/or services and the
buyer and seller are independent of each other once the transaction ... (more)
Like most companies in most industries, franchisors have plenty of moving
parts and pieces in their business. For instance, there are potential
franchise candidates to evaluate, real estate to analyze, franchisees to
train, and franchisees to support; not to mention all of the franchise
contracts, leases, and disclosure requirements to keep tabs on. Many
franchisors tout ” proven systems” as a main selling point or advantage
to becoming a franchisee, however a quick look under the hood would reveal
that many franchisors don’t have their own internal processes sorted out.
This ... (more)
“The significant problems we face cannot be solved at the same level of
thinking we were at when we created them.” -Albert Einstein
In my previous post, titled “Designing a Process for Awarding Franchises
– Part 1: Leadership”, I looked at the notion of how designing a process
of awarding franchises has to start with prioritizing around the
characteristics that your franchisees should have. Without fist hashing out
this issue, it will be largely unproductive to tactically begin putting
together a process that can be managed. For example, creating a system for
“selling” franc... (more)
Many franchisors utilize Twitter to communicate their products and services
to would-be customers. But how do you know if your social media efforts are
paying off? Can you pull up a real-time report to see just how many new
leads you’ve created over the past week? If you find an interesting
conversation taking place about your franchise opportunity, are you able to
effectively get a business development rep involved and respond in real-time?
We’ve posted this video to demonstrate the powerful functionality that’s
created by integrating Salesforce and Twitter together in your fr... (more)
(Photo: source)
I came across a rather interesting question that was posed on Linkedin
yesterday which prompted this post. The question was “Which thesis about IT
within emerging franchise networks most appeals to you?” The author, Heath
Waldorf, is putting together a thesis paper and was looking for some insight.
I obliged….
Information Technology within franchise systems would appear to be a scarcity
judging by the lack of conversation on the topic. A few quick searches about
franchising and technology will pull up a handful of dated articles on
intranets (which are rapidly b... (more)
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