The lending pendulum is swinging and putting extra burdens on franchisees. How can franchisors help and grow the system?
Stan Friedman, President FRM Solutions, a twenty seven year franchising veteran. Stan has been recognized as “outside the box” thinker with a passion for franchising and building the business case for diversity through franchising. In fact, in recognition of his work in diversity, Friedman proudly accepted the International Franchise Association’s Ronald E. Harrison Diversity Award […]
Franchise Capital Exchange 2015 closes with a record number of one-on-one meetings! Now it is time to think about 2016. What are the plans for growth? Are new initiatives part of the strategy? Are you looking for a financial partner?
There is nothing like exchanging presents. Here are a few ideas on giving knowledge and tools to your franchisees to boost brand value.
What was in the air yesterday? Two people called to discuss converting their business to the franchise model (which, considering my business, is not unusual) and both wanted to offer very low franchise fees. That’s discouraging because I don’t think they are doing the research necessary to be a really good, sustainable franchisor. Let’s look […]
Last week was historic for franchising: Dealmakers’ Summit was launched. I was privileged to be a part of it and to learn. Dealmakers’ Summit is the brainchild of Susan Black-Beth, COO of Super Wash Car Washes, and it was designed to match equity funds with franchise systems looking to expand, improve or sell. As an […]
Women in business – that used to be a radical phrase and when I say “used to be” I am referring to my teens. Now, women are ubiquitous in Western businesses. Some, like Meg Whitman and Carly Fiorina, have gone on to great notoriety and made the leap from business to politics and back again. […]
Men will never understand our love affair with shoes, so most women have given up explaining it – including me. But this is a story about shoe-shopping love. I ordered shoes from Zappos for the first time on Tuesday. I hate to shop (there is a gene broken somewhere in my DNA string), but shopping […]
Let’s face it: no one reads Manuals except the writing staff. And why would your franchisees do that when you are there to answer the questions and explain the long, boring written parts? That is – until now. Besides, they had two weeks of training – they know what they are doing. Right. Before we […]
Boo! It’s almost time for Halloween and here in California, it’s more of a holiday for adults than children. For one night we don costumes and masks and show … the “real” us? Or is it the darker shadow of our selves, as posited by Carl Jung? Who cares! We are we have fun, create […]
Traditionally, when companies expanded into other nations, they would hand over all the manuals and documentation in English text and pretty much say “good luck.” Locals would be left to their own means, frequently translating the highly specialized materials themselves. This was dangerous to franchises because there was no verification in place. Was the translation […]
By now the celebrations are over, the fireworks are spent and the memories are made. That was a celebration of independence, but now, let’s celebrate inter-dependence. Franchising is a beautifully symbiotic relationship: No one entity thrives without the others’ success. Our franchising relationships and their focus on mutual success are what drive franchising. Yes, each […]
Marketing is not a field of dreams, but if you market your concept right, they will come. Come to one of three great Franchise Business Network meetings to learn from the best: Marketing Strategies for Building Your Brand. Speakers are: Carol Skinner of Juice It Up!, Amy Boone Thompson, COO of Stroller Strides, Allison Heinright […]
Franchising is a curious business model: It’s all about uniformity and system, but we don’t share a common vocabulary. Case in point – “Discovery Day.” This is a term that means many different things within the licensing process. Discovery days are not unique to franchising. As Geoff Seiber, CEO of FranFund (and formerly of FranChoice) […]
I saw the future yesterday. Are you ready for it? Background I had the privilege of participating in a panel discussion at Cal State Fullerton presented by Epsilon Nu Tau, the first co-ed fraternity for entrepreneurship. The topic was “Women Entrepreneurs.” As I looked at the audience noticed there were no notepads, but there were […]
The IFA convention is over and you are back at your desk (maybe a few dollars poorer from the casinos). There were lots of people to meet, some great laughs and boatloads of information. So now what? To make your attendance at the convention an investment instead on an expense, there is a lot of […]
Making The IFA Convention An Investment Instead Of An Expense. The IFA Annual Convention is only 3 ½ weeks away and I’m excited about it. But, as I talk with friends, colleagues and clients about the money to attend and exhibit many say it is too expensive. I think that is backwards: this is one […]
Lather, rinse, repeat. Lather, rinse, repeat. Doing the same thing repeatedly with the same results can be boring. Doing the same thing repeatedly and expecting different results is the definition of insanity. Doing the same thing repeatedly and getting different results is progress.
By combining their expertise in franchise sales, development, operations and training, they offer franchisors a spectrum of consulting and advisory services unmatched in the franchise industry.
If you don’t help your franchisees by giving them clear directions in your manuals, they have no shot at Emerald City, but a clear shot at melting away…
According to Will Rogers, “Everyone is stupid, only on a different topic.” When we listen to others, we gain information
“It’s so much more friendly with two.” Piglet, Pooh’s Little Instruction Book
“Use your words.” This is the new anthem of mothers across the nation, and a darn good idea. But I would like to see the phrase expanded – just a little – to, “Use your words correctly.” Words are so important: they convey information, meaning and emotion. This is how we relate to each other […]
This week LinkedIn has had many discussions on the roles of the franchisor in terms of supporting franchisees. Site acquisition, lease negotiations, training of employees … While I believe all of these are important, I believe the greatest support a franchisor can offer a franchisee is teaching them to THINK rather than training them to […]
How can you use the power of networking to build a better franchise system with little or no added cost?