Why a la Carte Franchising Selection Does Not Work

 How to Select the Right Franchise

You know the situation if you have ever tried looking for a franchise.  You are looking at an a la carte style menu and it says tick the franchises that interest you.   But how do you know if those Brands are right for you and if you’ll be successful with them?  Is this the only list to use?    You read the glowing one-page summary on each franchise and you pick your top 20 favourites.  Then you wait.

You have just lit the fuse to twenty pieces of Dynamite

Within hours the phone starts to ring and you are lost, confused, exhausted and annoyed.  How did this happen? It also seems you got more than twenty calls and you had people call you that you did not even request.  All you wanted was a little information.

Is a little information enough?

For starters, wanting a ‘little information’ is your first mistake.  This is a major business decision.  All the information you need is not online. OH MY!  You need at least 7 to ten hours to thoroughly investigate any franchise.  So go to your room (or office) and do your homework!    Now for the scary stuff.  You may not be looking at any of the right brands for you.  In fact, many great brands do not list on these menus.  Oh, and by the way, and as reference point there are over 3500+ franchises in North America.

The problem is you started in the wrong place

How much do you know about franchising?  Did you assess your current reality? You are exposed to making the biggest mistake you can make in Franchising and that is not selecting the right franchise for yourself and Family.  The implications are far reaching.

Where do you turn?

So now that you are overwhelmed and confused, you decide to seek help. Where do you turn and whom can you trust?  Family?  Business colleagues?  Maybe.   But quite frankly, you need more than that.

Beware of the buffet approach to franchise selection. You’ll notice that that on the Franchise Rainmaker website there is no reference to brands. (This is your first clue).   You are unique and you have special requirements.  But you probably don’t have the time or the ability to gather the right information on 20 different franchises.  Then, do you have the expertise to narrow down your choices and find the right fit?

You deserve a better way.   The good news is there are some great advisers out there in the franchise business.  But how do you find the right one for you?

Joe G. White is Owner of MFR Inc. “The Franchise Rainmaker”. He provides professional advice to people looking to engage in franchise ownership  He can be reached at 647-724-0742 or jwhite@franchiserainmaker.com.

success through knowledge

Sales Effectiveness Means Nurturing Right Habits and Behaviors

Every part of a business, whether it’s the accounting team or customer service or human resources, has its function and plays its role in promoting company success.  But, when we consider the topic of how businesses generate revenue, in most cases the focus turns to a company’s sales team(s).  After all, for many companies the sales teams play a fundamental role in driving business revenue and, in short, in keeping the lights on.

But, simply keeping the lights on shouldn’t be a goal that companies strive for.  Nor should businesses have to accept mediocre or less than stellar results from its sales.   Since our founding, Trindent Consulting has made it a goal to serve as a knowledge and consulting resource for companies looking to strengthen their sales performance.  Naturally, the effectiveness of individual members on a sales team plays a large part in a given company’s sales performance.  But, with that said, Trindent’s consulting incorporates a much more holistic and team-centred approach toward performance improvement.  Why don’t we explain what exactly that means.

In the sales-based consulting campaigns that Trindent Consulting has completed, a primary point in our performance improvement methodology involves the strength of the sales team’s information tracking ability.  A team’s ability to accurately track its sales results and qualify sales visits, and to do this in a way that is effective and time conservative, plays a vital role in boosting sales results.  After all, a sales team that is strategically blind, that doesn’t know and can’t accurately record the performance of past sales targets, and has difficulty planning and executing its sales objectives is not going to enjoy strong results.

Our campaigns work to address this issue.  In a hands-on approach, Trindent’s consultants work to successfully develop and incorporate new processes that allow for the planning and executing of sales targets, and perhaps more importantly, enable the effective tracking and analyzing of sales data.  Trindent Consulting’s engagements, in short, give a way for sales teams to find renewed clarity and organization in the informational points it receives.

Across the board, regardless if a given engagement is sales-based or not, Trindent Consulting’s methodology places high importance on active management.  Active managers, among other things, are those who provide clear expectations for their staff, who create and take advantage of effective communication systems, and who, above all, actively work to enforce new processes in their staff to continually drive performance.

Active managers are nothing less than essential when working to improve sales performance.  Why?  Because active managers are those who have the skills to successfully incorporate improved habits and behaviors in their sales teams to drive performance and growth.  Improved habits and behaviors are the backbone to performance. Incorporating new and better informational tracking processes in sales is one thing.  But, reinforcing and sustaining these improved processes entirely depends on better team habits and behaviors.   All of which hinges on active management.

To offer more specifics to the discussion, consider one sales-performance-based engagement that Trindent Consulting accomplished several years ago. An international footwear and apparel company was experiencing frustration related to its sales force.  The company was frustrated with lower rates of sales, coupled with increased product returns and product markdowns.  The retail company engaged Trindent to reverse this downward trend.

In response, Trindent’s consultants began a campaign that focused on both elevating and clarifying sales force knowledge.  Trindent installed performance dashboards, so that sales teams could gain a clearer idea of high and low selling points.  Trindent also created improved sales planning tools and initiated weekly sales meetings between sales managers and reps to increase communication and allow for true active management.  Improvements like these worked, and the consulting campaign generated a 17% increase in sell-through rates, among other positive statistics.

In the end, companies looking for ways to improve their sales performance should remember two things:  one, the ability of its sales teams to accurately track, organize and learn from its sales data; second, whether or not its sales team has the right behaviors and habits to incorporate new and better processes.  Weakness in either of these points can and will affect sales performance.

The “Do’s” and “Don’ts” of Effective Business Communication

These two little words can change the way you communicate to your clients and prospects.  Effective communication in business always leads to more success.    It is using the right words to  to help and to facilitate learning while building relationships with your clients.  It is all about trust and rapport.

What is don’t?  It is do not  disguised under the apostrophe banner.  It sneaks into our conversations under this mask.

Here are some Don’t phrases to ponder.

Don’t care!

Don’t think so!

Don’t want to!

Don’t have an interest!

That should be enough, but I am sure you can think of hundreds, but what are these phrases?  You are right! They are negative statements and that lead to dead end streets with no way out. 

Here is the most intriguing concept. We as business  communicators will use the word Don’t  and it leads us nowhere.  I really believe that to be true.    A good example is “I don’t think you should go down that path.”  Now search how you felt or what you thought about when you read this phrase. What ever it was, it had a negative feel to it along with what ever action you would need to take to respond to it. Right!

Now think of the word DO

It is an action word to be taken very seriously. For example we seldom ask people what they don’t do but what they Do?

Do you care!

Do you think so!

Do you want to !

Do you have and interest!

Now look at the difference.  The  word Do is positive by its nature and it requires action or demands open response.   It begs the question “why” and a “because” response. 

Do you think you would learn more about your clients, staff, associates etc.  if you incorporated this word?  Why do you think so? What will it Do for you in your business communications.  Do you think it might help you make more money.

I trust you get the point. It is so easy to change this habit just say the word Do instead of don’t and let the flow of the conversation happen.  Just some fun thoughts for everyday business.  

Joe G. White is Owner of MFR Inc. “The Franchise Rainmaker”. He provides professional advice to people looking to engage in franchise ownership  He can be reached at 647-724-0742 or jwhite@franchiserainmaker.com.

success through knowledge”

Franchising is Not all About Food – You Have Other Choices.

Let me be clear,  the food category is a big part of the franchising industry.   But what most people fail to do is investigate the other categories of franchising.

Did you know you could run numerous service franchises that deliver great value and produce solid recurring revenue?

Did you know you could keep your job and built a retail empire on the side?  Yes you can determine your exit strategy.

Did you know that one and eight homes in North American has a home based business?

Did you know that in North America Home based businesses generate over 427 billion in revenue annually and growing?  Many of these businesses are franchises.

Did you know that one in two businesses that start today are Home Based and that 58% of home based businesses are run by women. You see there is a cost effective way to make money and work from home.

Franchising can deliver the programs and systems to succeed at home or as creating an exit strategy from employment. If you want to get off the job cycle and take control of your future perhaps you should look at  franchise business ownership from a non food perspective. Perhaps you may be able to own a business sooner then you think and have more time for the things you want to do. But these options can generally be less expensive than food and can move to profitability much quicker.

Fully 85 % of the people who start a  franchise business are still running them five years down the path. I am not sure you can say that about your job security.

Long term a well thought out business can lead you to the returns you want.  The reason this works is because the investment is in “You” in an organized business model.   A wise friend of mine said,  “You do not know the value of a risk until you take one.” Before you jump on the food wagon track for franchising make sure you clearly investigate the industry.  It will surprise you  what is out there. Franchising is the safest way to enter the  business ownership and long term they are solid investments.

I love my boss

Joe G. White is Owner of MFR Inc. “The Franchise Rainmaker”. He provides professional advice to people looking to engage in franchise ownership  He can be reached at 647-724-0742 or jwhite@franchiserainmaker.com.

success through knowledge

7 Roadblocks to Franchise Ownership

The Shocking Truth you Already Know

Or 7 non Financial  Roadblocks to Franchise Ownership

With over the 17 years of working and placing people in franchises  I have a list of why people do not buy businesses.  These are why many people never  proceed with the dream of owning a business.   I have witnessed to many people climbing the mountain of business ownership and stopping at the top never to harvest the benefit of all the expertise they have to share and achieve the wealth and lifestyle they are capable of achieving.   I hope by sharing these you will recognize when they are in your way and be able to knock them out of the way.

Here they are:

  1. Relatives:  The family members who are meaning well who advise you not to do it. They  normally do not have all the details or they are thinking only of themselves.  You may educate them on your opportunity  and desire or say thank you for the advice.
  2. Friends:  They care, but worry about losing your friendship or your time with them.  They also mean well but probably do not share your dream.  Do listen to those that encourage you.
  3. Pessimists:  These people are the ones who kindly advise you  that you are crazy and will fail no matter what you say or do.  You need to walk away from these types.  You know good advice when you hear it.
  4. Society:  This will not work here, or you have a greater role to play then owning a business.  Some people are afraid to be successful as if financial success is a dirty word.  Your ethical success is good for society no matter what it is.
  5. Guilt: You are feeling bad about using financial resources and making and investment.  “How will we cope and have the money to live on?”  You need to be thinking long term.   Keep your eye on the prize.
  6. Over Analysing:  Looking for the numbers to tell you not to do it, rather than using the numbers to show you how you can do it.  Live your dream do your numbers and seek the answers but do not let perfect numbers be the only way you will start a business.
  7. Fear:  I left this one to the end because it is the ultimate dream killer.  You are overcome by the, “What ifs'” and you either fight or walk away. You are left wondering  if you will ever have a business.  Use fear to seek more knowledge look for the root cause and learn how to mitigate the problem.  I will write more on this at a later date.

You can overcome these obstacles by recognizing them for what  they are.  With proper planning, focus and advice  all of these  roadblocks can be hurdled.

 

The Decision Gambut

 

Joe G. White is Owner of MFR Inc. “The Franchise Rainmaker”. He provides professional advice to people looking to engage in franchise ownership  He can be reached at 647-724-0742 or jwhite@franchiserainmaker.com.

success through knowledge