FOUR TIPS TO STARTING A SUCCESSFUL FRANCHISE

Have a successful model. It is impossible to create a franchise program without having at least one successful operation, a pilot, if you will. It is not feasible to think that if your core business loses money and is unsuccessful, that a franchisee will be any different.

INTRODUCTION TO FRANCHISING
FOUR TIPS TO STARTING A SUCCESSFUL FRANCHISE

By Cambridge Who’s Who Lifetime Member and Contributing Author Harold Kestenbaum

My name is Harold Kestenbaum, and I am a franchise attorney. Many of you may want some information about what a franchise attorney does. I realize that franchising is not a well-known sector of the legal profession unless you work in the industry as either a franchisor or a franchisee. Here is how I became involved in franchise law.

In 1977, at my third job out of law school, I worked for a solo practitioner in Manhattan who represented many corporate clients, some of whom were publicly traded. One company happened to find the opportunity to franchise their business. One day my boss said to me, “Kestenbaum, I need you to learn about franchising opportunities, so that you can handle our franchise client.” Not knowing what in the world he was talking about (I had done everything but franchise law up until then) I found every book I could on business franchising information (there was no Internet in 1977) and for the next four years I immersed myself in franchise law. When New York State passed a new franchise registration law in 1981, I decided that it was time for me to become a solo franchise attorney and resigned my position. I have been practicing franchise law ever since.

Based on my years of franchise experience, I wrote a book, So, You Want to Franchise Your Business, that delves into the opportunity a company embarks on the franchise path. It includes the dos and the don’ts of how to franchise your business. In my book, my co-author, Adina Genn, and I discuss what makes a company have the right opportunity for franchising and how to go about turning a successful business into a franchise company. Here are a few key tips from my book:

1. Have a successful model. It is impossible to create a franchise program without having at least one successful operation, a pilot, if you will. It is not feasible to think that if your core business loses money and is unsuccessful, that a franchisee will be any different. It is imperative that your franchisees be successful, otherwise franchising opportunities will not work.

2. Make sure your business model is replicable. You must be able to build clones of your operation, otherwise, the system will not work. Have you ever seen a McDonald’s without the infamous golden arches? That is just one example, but it goes beyond the look. It is the method of operation that must be duplicated in order to have the opportunity to franchise.

3. Attain capital for your franchise. You must have capital in order to roll out the franchise program. You cannot believe that franchising will cure your cash flow issues, you need to have money in order to roll out the program. Do not view the program as a way to fund an undercapitalized business model.

4. Prove your model works! The concept that you are trying to franchise must be lucrative. You must demonstrate that your concept works before you try to offer it to the public as a franchise. If the business model is a failure, your franchisees will inevitably fail as well. Franchising can be a wonderful business opportunity, but your initial model must work first, otherwise franchising will not be possible.

Why franchise your business? That is a very good question. But to those of us in the business, the answer is quite obvious. If you want the opportunity to grow your business beyond one or two stores, and you cannot afford to build more units at, for example, $500,000 each, then what better way to grow than to let a franchisee buy a franchise and build the unit himself or herself for that amount, and you simply receive the weekly royalty of 5% or 6% of gross revenues? Franchising is a vehicle for growth using the capital and human resources of someone else (the franchisee). How great is that? It is simple, yet complex. The franchising relationship goes much deeper than building the unit and collecting royalties. It is a starting place for companies that want to grow but do not have the internal capital or human resources, like Starbucks, to do it by themselves.
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Learn how to FRANCHISE YOUR BUSINESS and collect royalties! www.franchisegrowthsolutions.com

Skinny Pizza continues Franchise Expansion

SKINNYPIZZA’s expansion focus includes primary domestic and international markets that support a healthier approach to great tasting New York-style pizza, pasta, organic salads and farm-to-table greens. Company officials say they anticipate additional expansion this year with a growth rate of 6-10 domestic units, including locations in Greenwich, CT, Dallas/Ft. Worth and Philadelphia.

SKINNYPIZZA® Goes Global

NEW YORK, NY – Healthier New York pizza sensation, SKINNYPIZZA®, announced their expansion to The Kingdom of Saudi Arabia with the addition of 25 locations with Fawaz Alhokair Group, one of the leading groups of companies in Saudi Arabia focusing on the retail, real estate and restaurant business sectors.

Fawaz Alhokair Group entered the Food & Entertainment sector in 2005, bringing fresh new alternatives to the Saudi Arabian market. Their highly experienced Food & Entertainment Company operates 11 separate franchises of leading international brands, in categories such as coffee, sweets, juices, sandwiches and fast-casual dining.

Fawaz Alhokair Group’s Food & Entertainment Group VP, Sultan Alhokair said, “There is nothing similar to SKINNYPIZZA in the Saudi market. It is either fast-food quality or casual dining pizza offerings.” Mr. Alhokair believes SKINNYPIZZA is a perfect fit for the market. He stated, “SKINNYPIZZA brings a gourmet, healthy, New York authentic pizza experience to the fast-casual sector, which differentiates it from the rest.” Karim Hajjali, Chief Business Development Officer, will lead the expansion of SKINNYPIZZA under the leadership of Kamal Abusara, CEO of the group’s Food & Entertainment division.

SKINNYPIZZA Founder and CEO Joseph Vetrano said, “We couldn’t be more pleased to be partnering with Fawaz Alhokair Group to bring healthier SKINNYPIZZA to The Kingdom of Saudi Arabia. Alhokair Food & Entertainment has a long history of successful real estate development and food operation and represents precisely what we look for in an experienced international multi-unit development franchisee.”

SKINNYPIZZA Senior Franchise Recruiter Vince Blumetti indicated that “the company is very excited with the newly formed multi-unit relationship with Alhokair Group and the discerning investments of its chairman of Fawaz Alhokair. We believe that this places SKINNYPIZZA in ‘rarefied air’ that includes Chairman Alhokair’s interests in 2,100 stores across the Middle East, North Africa and Central Asia, and of course his recent highly publicized $88 million Park Avenue purchase, which is Manhattan’s highest penthouse.”

SKINNYPIZZA’s expansion focus includes primary domestic and international markets that support a healthier approach to great tasting New York-style pizza, pasta, organic salads and farm-to-table greens. Company officials say they anticipate additional expansion this year with a growth rate of 6-10 domestic units, including locations in Greenwich, CT, Dallas/Ft. Worth and Philadelphia.

ABOUT SKINNYPIZZA
After life-long experience with authentic Napoli-New York-style pizza, and over six years of research and development, Joseph Vetrano came up with a winning formula. SKINNYPIZZA is the New York Post’s #1 rated, best tasting pizza. Their healthy and delicious pies include a no-additive crust, USDA organic tomatoes, and hormone-free, nitrate-free toppings. SKINNYPIZZA, along with its staff Registered Dietician, serves only all-natural additive-free pizzas, GMO-free pastas, USDA organic salads, farm-to-table greens, high-fructose corn syrup-free sodas, soups, sandwiches, and optional organic craft beers.

SKINNYPIZZA is based in New York City at Brookfield Place, Two World Financial Center, 225 Liberty Street, Suite 251, New York, NY 10281. For more information visit: skinnypizza.com

Media Contact:
[email protected]
516-695-7045

Franchise Inquiry Contact:
[email protected]
www.frangrow.com
917.991.2465

Franchising continues to grow and Millennial founded brands are a driving force.

There is no doubt in my mind that the “Franchise Prototype Model” has revolutionized the way people take a small local business and turn it into a regional or national brand.”

Franchising continues to grow and Millennial founded brands are a driving force.

As Millennial Entrepreneurs are coming into their own with new brands that are emerging and growing, the idea of Franchising as a tool for rapid growth has become a prime focus. Understanding the need for Brand Identity and Social Acceptance perhaps better than any generation before it, the Millennials and GenX’rs are turning to franchising as the key method to expand beyond their immediate territories.

Gary Occhiogrosso, Managing Partner of FranGrow, (a franchise development and sales firm www.frangrow.com ), put it this way “as popular as the internet has become, you can’t physically experience your favorite restaurant or have your hair cut, or do a spin class or take care of aging parents “on the internet” or using an “app”. “There is a “real world” element that provides great opportunities for franchising both product and service based businesses.” “In the first six months of 2017 we’ve been approached by double the number companies looking to franchise their business or help them expand compared to the same time last year.”

FRANCHISING GROWS IN TOTAL

Robert Cresanti – President & CEO of the International Franchise Association (IFA) reported “We are forecasting that for the sixth consecutive year, franchise businesses will grow at rates that exceed the economy-wide growth of industries where franchises are concentrated, Franchise businesses are showing tremendous capability to provide new jobs for working families and new businesses for first-time business owners across all sectors in local communities, despite the fact that franchisees are facing many new regulatory threats at all levels of government.”

TOP CATEGORY IN FRANCHISING

According to Entrepreneur’s Franchise 500, the top growth sector both domestically and internationally is Quick Service Restaurants. As this stat relates to Millennials, they are particularly fond of the build your own concepts that feature fresh, made to order items, using sustainable ingredients and “built” to the customer’s specifications. Occhiogrosso who also teaches restaurant concept development and entrepreneurship at NYU says that his students aim their creativity on either launching or purchasing a quick casual brand that focus on the quality and social responsibility of the concept. He went on to say, “regarding founders and entrepreneurs that engage us to expand their brand, the franchise model is the primary form of expansion. Our client list has grown to the point whereby we’ve had to go to a waiting list. There is no doubt in my mind that the “Franchise Prototype Model” has revolutionized the way people take a small local business and turn it into a regional or national brand.”

For follow up information please contact [email protected]

Why Qualifying For Timeline Is Important

As we got to the end of the call, I was positive I’d be getting on a plane in the next couple of weeks to work with this prospect. And that’s when I asked a qualifying question that I neglected to ask upfront: “What is your timeline for this training?” He told me, “Sometime in the Fall.”

Why Qualifying For Timeline Is Important
By Mike Brooks

Okay. So I’ve been in sales longer than some of my clients have been on the planet.

I’ve made thousands and thousands of prospecting calls, and thousands and thousands of closing calls.

I teach, train, write books on phone scripts, and develop customized phone scripts and inside sales training programs for sales teams worldwide.

You’d think that I would never get tripped up by or neglect the fundamentals of sales, right?

Wrong.

Just this morning (April 28, 2017), I was on the phone with a new prospect and he was asking me about my background, my training methods, etc. We had good rapport. He was an inbound lead. We really connected and he was interested. This was a slam dunk, right?

As we got to the end of the call, I was positive I’d be getting on a plane in the next couple of weeks to work with this prospect. And that’s when I asked a qualifying question that I neglected to ask upfront: “What is your timeline for this training?” He told me, “Sometime in the Fall.”

So, after a ½ hour on the phone, this call went….nowhere. Where did I go wrong? When he asked me what my process was when working with companies, I should not have assumed he was ready to go. Instead, I should have done what I teach: Qualify.

And the first thing I should have qualified for was his urgency to make a decision. By the way, I normally do this, but because the rapport was so strong, and, again, he was a call in lead, I assumed he was all set. He wasn’t…

Here are some ways to qualify for timeline:

For an inbound call, what I should have done (and will not be skipping again!) is ask:

“First off, I generally book several months in advance, so let’s talk about when you need this training – if everything goes well during your discovery process, when is the soonest you’d like to have this training delivered to your team?”

If he then told me it was six months off (“in the Fall”), I’d have given him an abbreviated pitch, and then told him I’d circle around with him in September.

If you are prospecting to set an appointment or a demo, then the following scripts to qualify for timeline are what you use:

“If you like what you see after the demo, what would be the next steps on your side?”

OR

“If you think this solution is what you’re looking for, what would be your timeline for putting something like this to work for you?”

AND

“If after the demo this is something you’re interested in taking advantage of, could you implement this in the next couple of weeks?”

Qualifying for timeline upfront is crucial to not only closing more sales, but also to avoiding objections at the end like, “I want to think about it…”

Use any of the scripts above, or rewrite them to fit your personality, product or service.

Take my word for it: It’s MUCH better to know in advance when your prospect is thinking of buying.


Mike is the go-to inside sales trainer and phone script writer in the industry. He is hired by business owners to implement proven sales processes that help them immediately scale and grow Multi-Million Dollar Inside Sales Teams. If you’re looking to catapult your sales, or create a sales team that actually makes their monthly revenues, then learn how by visiting: http://www.MrInsideSales.com

http://articles.submityourarticle.com/why-qualifying-for-timeline-is-important-372473

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Franchise your Business today! www.frangrow.com

LEARN MORE ABOUT THE EXPLOSIVE AND UNTAPPED LATINO MARKET

Franchises provide a stable foundation and guidance:
Franchises are a proven business model.
They have established brand identity, effective marketing, and consumer research.
You will have access to business reports and key performance indicators.
As part of a franchise, you will have the experience and knowledge of the franchisor backing you up.
As a Los Taxes Tax Center Owner you are part of a “family” of Tax Professionals who together serve the community with honesty and integrity, utilizing tools to operate their businesses within the ever-changing guidelines of the industry.

LEARN MORE ABOUT THE EXPLOSIVE AND UNTAPPED LATINO MARKET
By Gary Occhiogrosso

Watch and Listen to this video as we describe the explosive Latino Market and a unique franchise opportunity. Contact me at [email protected]

Become part of the nation’s First and Only Latino Network of Tax Centers in America

Los Taxes can offer you the following opportunity for Success:

Servicing the fastest growing population base in the country….the Latino population
An established and recognized brand in the industry
Hands on initial training and on-going training
Utilize state-of-the-art tax preparation software to service your clients
Ongoing technical support
Receive up-to-date advancements, adjustments and compliance guidelines within the industry
Have at your disposal a team of experienced staff to assist you in establishing and reaching your business goals
Experience the satisfaction of being part of a “Family of Businesses” that share the common goal of excellence in service to the client.

“Los Taxes helped me to take my home business with over 1,200 clients to a professional office and continue serving more clients.”

Santa Los Taxes Franchisee in Queens, NY

We partner with you to service the needs of a community that is ready to be serviced with integrity and honesty in relation to tax preparation.

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Why Los Taxes

Los Taxes is known as the fastest growing Network of Tax Centers with over 50 tax centers in only five years.

Firm Foundation

Javier Solis, Los Taxes’ Founder & CEO has been a tax practitioner since 1990. In 2000, Javier opened his first Brooklyn office where he started with no clients or support. During those years, Javier developed an effective and aggressive marketing strategy, as well as an administrative structure that helped him bring his practice over 5,000 clients in 8 years and to the national level it is now. These Marketing and Administrative strategies combined with a state-of-the-art web management system are the key features available to all Los Taxes Tax Center Owners. Javier strongly believes that education and expert guidance are the keys to a productive and profitable tax preparation business.

Constant Support

One of the benefits of being a Los Taxes Tax Center Owner is the understanding that “you are not alone” in your business. From the initiation of your Tax Center business a team of professionals are standing by to offer support as needed in all areas of tax preparation:

Tax business operations
Compliance guideline adjustments
Industry updates, community integration processes
Brand exposure techniques
Initial training and ongoing training
This support extends beyond the Tax Center Owner and encompasses the tax preparation staff and/or administrative staff working for the Tax Center Owner.
Year-Round Training

Los Taxes Business Support Team stands ready to supply support and assistance to its Tax Center Owners both in tax season, and throughout the year.

State-of-the-art tax preparation software
Regularly scheduled webinars
Training sessions
Tax schools
Assistance with IRS registration and certification
Boot camps and workshops
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Opportunity for Success

Our Success is Driven by Your Success, and we are equipped and ready to assist in Your Success.

Why the Tax Industry

As tax guidelines are continually being adjusted the need for the use of a Tax Professional increases. Quite simply, the Tax Industry is positioned for continued growth in years to come.

More than 240,000,000 individual tax returns are filed each year
56% of individual tax returns filed are filed by paid preparers
90% of individual tax returns filed are e-filed
Any tax preparation business that intends to file eleven (11) tax returns or more in a calendar year must use the IRS E-File System to do so
More than 120,000,000 individual tax returns filed in a year receive tax refunds
The average individual tax refund received was $2,872.00
27,900,000 individual returns received Earned Income Tax Credit
Individual Tax Return Filing is increasing by at least 1% per year

The Latino Market

Service the fastest growing population base in the country….the Latino population.

In addition to the above statistics, there are also over 12 million undocumented Hispanics who will request the ITINs (Individual Tax Identification Number) and file income tax returns as a sign of good faith in furtherance of any future amnesty possibilities. These individuals comprise an untapped segment of the market thereby resulting in a tremendously profitable opportunity for a business catering to the Latino Community.

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No one can guarantee success but when a franchise company supplies you with the tools and knowledge, all you need to do is follow the system.

Franchises provide a stable foundation and guidance:

Franchises are a proven business model.
They have established brand identity, effective marketing, and consumer research.
You will have access to business reports and key performance indicators.
As part of a franchise, you will have the experience and knowledge of the franchisor backing you up.
As a Los Taxes Tax Center Owner you are part of a “family” of Tax Professionals who together serve the community with honesty and integrity, utilizing tools to operate their businesses within the ever-changing guidelines of the industry.

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To learn more about this explosive market and untapped franchise potential, Contact me at [email protected]
www.lostaxes.com

How to Turn A Franchise Agreement To Your Advantage

Often the most complex area relates to renewal and termination of the franchise. Are you granted an automatic renewal right beyond the franchise term of 5 or 7 years? What renewal fee is payable? Can you sell the franchise on?



How Turn A Franchise Agreement To Your Advantage

How Turn A Franchise Agreement To Your Advantage

By: Martin Truman

Deciding to buy a Franchise is a huge decision. Once you have convinced yourself that franchising suits your character and business aspirations, have identified the right franchise, done your sums, attended the initial training and perhaps paid an initial deposit you will be presented with a Franchise Agreement to sign.

Typically this agreement could run to 40 or 50 pages and can be a daunting read to those unfamiliar with commercial contracts. The very nature of a franchise business structure means that the agreement will be fairly complex. Remember that this document provides the framework for your business life over the next seven years or so.

Franchisors, particularly established ones, will rarely change or negotiate the terms of their standard Franchise Agreement as they will want to maintain uniformity across all the franchises. However, it is essential that you understand what you are being asked to sign. Once you have signed an agreement as a business person (without the cotton wool treatment given to consumers) you will struggle to persuade a court later that the terms were unfair or sufficiently unreasonable to be void. You will be stuck with it! I strongly recommend that you seek legal advice from a commercial solicitor familiar with franchising.

Key areas include establishing the true cost of the franchise including ongoing royalties, advertising costs, minimum stock purchases. What location and territorial rights have been granted? Are these exclusive to you? What property and equipment is required? What obligations are there on you and the Franchisor relating to the ongoing operation of the franchise?

Often the most complex area relates to renewal and termination of the franchise. Are you granted an automatic renewal right beyond the franchise term of 5 or 7 years? What renewal fee is payable? Can you sell the franchise on? Usually you will need to give the franchisor first option and/or a right of veto over the acceptability of any proposed transferee, often coupled with a % fee. What are the consequences of an early termination by you if you want or need to get out prematurely? There will usually be a minimum period with forfeiture of the franchise fee, stock and possibly other financial penalties and compensation. What if you are in breach? What circumstances would lead to an automatic termination? Are you given a period in which to remedy your breach?

Ask yourself some “What if?” scenarios. What if you died or were seriously ill? What if you failed to meet your sales targets? What if you wanted to sell product out of your territory? What if a customer sued you for faulty products? If you cannot answer all your What ifs, do seek more advice. Don’t be afraid to ask the Franchisor these questions. But don’t expect an impartial response. The Franchise Agreement will usually have an express term preventing any reliance upon representations or claims made by the Franchisor in the initial presentations or documentation. Much to the disappointment of many clients who come to us for advice having run an unsuccessful franchise, this applies particularly to any claims as to how much money can be earnt… Buyer beware!

Author Bio
Martin Truman is head of commercial law firm, Truelegal Solicitors. For more information about Franchise Agreements visit http://www.legal-advice-centre.co.uk/franchise-agreement.html“>www.legal-advice-centre.co.uk/franchise-agreement.html.

Article Source: http://www.ArticleGeek.com – Free Website Content


6 Tips for Startup Success From MIT Bootcamp for Entrepreneurs

Just after the defining the business idea, all the teams at MIT bootcamp are forced to interact with their potential customers and interview them. It doesn’t matter how hard it is to reach the target market, all teams have to find a way to get real responses to validate their idea.

6 Tips for Startup Success From MIT Bootcamp for Entrepreneurs

Former Olympian Inga Stasiulionyte shares the main lessons that she learned about starting a successful business.

by Carolyn M. Brown

Reports show that at least eight out of 10 businesses fail within a year after opening, and roughly 96% will close in 10 years. This summer, MIT held its regular Global Entrepreneurship Bootcamp, where entrepreneurs from around the world underwent the most challenging week of their lives while learning how to build a lasting and successful business. MIT organizes these bootcamps with the goal of creating more stable jobs. When businesses fail, it’s not only the owners that suffer financially and emotionally; when people lose their jobs, vendors lose their clients.

Inga Stasiulionyte is a former Olympian, mentor, and an MIT bootcamp award-winner for Onbotraining, her online startup for mind training. Here, Stasiulionyte shares the main lessons she’s learned from her MIT startup bootcamp experience.

1. Learn to Achieve Perfection

Everything is possible, even at the highest level. When running a 100-meter sprint, your body will function at its best in the shortest amount of time. However, you have to keep moving faster and faster without losing quality, in order to succeed. The more we learn about how we function, the more we can challenge our capabilities and standards. It all depends on mastering your thoughts, actions, discipline, and planning.

The more we learn about how we function, the more we can challenge our capabilities and standards. It all depends on mastering your thoughts, actions, discipline, and planning.

2. Work With Experts

If you want to achieve the best for yourself, work with experts. When you work with the best in their field, you can continuously challenge your limits and see how they break theirs. Being around groundbreaking individuals will increase your mental limits, surpassing what you thought was possible.

Read the entire article here: http://www.blackenterprise.com/small-business/6-tips-success-mit-bootcamp-entrepreneurs/

6 lies you tell yourself that are keeping you from success

History is littered with late-life success stories. Julia Child’s first book published in 1961 when she was around 48 years old. McDonald’s Systems, Inc. founder Ray Kroc became successful at 52. And Colonel Sanders started franchising KFC at 62, reports Business Insider.

6 lies you tell yourself that are keeping you from success
Alaina Tweddale, GOBankingRates
From Business Insider

“The No. 1 thing that keeps people from really having what they want financially … is this unending process that most Americans go through of sabotaging their own financial success,” said business strategist and best-selling author Tony Robbins in a video.

As it turns out, many people carry around a set of self-limiting beliefs, which are often lies they tell themselves.

To become successful, you need to identify those lies and then “get rid of some these old beliefs,” as Robbins said.

What do the financial professionals have to say about this? They agree. These experts shared the most common self-limiting lies they often hear, as well as their advice to overcome each. Find out what they said.

For example, do you want to land your dream job? First, identify the companies where you’d want to work. Next, start talking to people you know who might have inside information about any key job openings.

“It could take a while, and there will certainly be obstacles, but by overcoming them and not quitting, your success will seem second nature,” added Scott. “And only you will know that it didn’t happen overnight.”

1. “I don’t know where to start”
“When you think you have to start at the beginning, you assume you know where the beginning is. But that’s not the way your brain works,” said Charles C. Scott, financial advisor and president of Pelleton Capital Management. “It’s not linear.”

Instead, start anywhere. Pick up any book on investing or finance that piques your interest, and read any chapter within the book. Then, read another, Scott suggested. It’s the getting started that’s often the challenge for most people. After that, inertia takes over.

“When you have hope, optimism and a positive outlook, you can achieve anything,” said Joseph Carbone Jr., a wealth advisor at Focus Planning Group.

2. “I’ll start tomorrow”
Remember the old adage, “Today is the first day of the rest of your life?” It might sound a little corny, but it’s true. Today is now, where tomorrow is, well, always tomorrow. It’s a sad fact that makes it easier to continually push financial success off for one more day.

“It takes just as much energy to start as it takes to make up an excuse,” said certified financial planner Benjamin Brandt. If you want to reach your goal, be it becoming financially independent or getting out of debt, Brandt suggested working from a to-do list.

“Write down at least three items you will accomplish today, no matter what,” he said. The key to success, of course, is doing this today — not tomorrow.

3. “I’m not ready to be that successful”
Believing change is possible is often what makes change possible. Of course, the opposite is also true. Believe you’re not ready to be that successful and, sadly, you’ll never be ready.

“Don’t let self-talk trap you. Remember: If you say it, it’s true,” said Scott. Instead, he suggested taking just one step toward your ultimate goal. Then, take the next.

Read the entire the article here: http://www.businessinsider.com/6-lies-you-tell-yourself-that-are-keeping-you-from-success-2016-9/#-1

Emerging Franchise Brands battle with this question everyday.

Emerging franchisors are faced with a number of “start-up” challenges that include limited capital and limited management resources to focus on franchise sales development.

Are Franchise Brokers Good or Bad for Franchising and Emerging Franchisors?

By Charles Internicola
Partner at The Internicola Law Firm, PC and President of Thoughts Are Things Franchising, LLC

When you speak to the founder of an emerging franchise system, much more often than not, you will find a genuine entrepreneur intent on creating a successful franchise system and a win-win relationship with his or her future franchisees. During the start-up and growth phase of a franchise system, these franchisor founders are faced with a number of challenges to overcome, with the greatest and most important challenge being the attraction of qualified franchisee partners who will be a good fit.

So how do franchise brokers fit in, and are they good for franchising and emerging franchisors?

They are – franchise brokers are good for franchising and critical for the emerging franchisor.

Here’s why…

Emerging franchisors are faced with a number of “start-up” challenges that include limited capital and limited management resources to focus on franchise sales development.
How Franchise Brokers Help Solve this Challenge: Turns out that, on the whole (of course there are always exceptions in every profession) franchise brokers are professional, well versed in franchising and have every incentive to place a qualified franchisee with the right franchise system. So, franchise brokers can serve as valuable outsourced professional resources to supplement the franchise sales and qualification efforts that are typically lacking in an emerging franchise system.

Emerging franchisors are faced with the challenge of finding the right franchisee partners.
How Franchise Brokers Help Solve this Challenge: The success of an emerging franchise system depends on the quality of its initial group of franchisee partners. Sign on the wrong franchisee and you are left with validation issues and problems. More often than not, franchise brokers produce higher quality franchisee prospects. These franchisees are typically better qualified than franchisee prospects generated organically or directly by the emerging franchisor.

Emerging franchisors require momentum.
How Franchise Brokers Help Solve this Challenge: Quoting Robert Ringers excellent book “Action!: Nothing Happens Until Something Moves”, for emerging franchisors nothing happens until a franchise is sold. So when it comes to growing a franchise system emerging franchisors need to adopt an all of the above strategy focused on SEO, organic lead generation, public relations, social media and broker generated leads. Franchise broker activity and effort is a critical piece to the franchise sales process and “moving things” to create momentum.

In my experience, it turns out that much more often than not, franchise brokers themselves are self-employed entrepreneurs are professionals, take pride in what they do and are genuine in matching prospective franchisees with the right system and so that can only be good for the franchise industry.

http://www.franchiselawsolutions.com/blog/are-franchise-brokers-good-for-franchising-and-emerging-franchisors/

Emmitt Smith Joins Executive Lineup as Co-owner of The Gents Place

Ultra-premium Men’s Grooming & Lifestyle Club, The Gents Place, Launches National Franchise Program
Entrepreneur and NFL Icon Emmitt Smith Joins Executive Lineup as Co-owner of The Gents Place

Press Release by Rachel Tabacnic

Dallas/ PRNewswire/ — The Gents Place, an ultra-premium men’s grooming and lifestyle club, announced today the formation of The Gents Place Franchising, LLC and the launch of its national franchise program. Additionally, Emmitt Smith, an established entrepreneur, Pro Football Hall of Fame inductee and long-time member of The Gents Place, has joined the team as a co-owner alongside founder and president Ben Davis. With four existing lifestyle clubs open in Dallas and Kansas City, The Gents Place currently has more than 2,300 members and plans to open 150 franchised locations over the next five years.

“Male grooming is a $5+ billion industry and The Gents Place prides itself on offering a world-class menu of services to help men look and feel their most confident best. As the industry continues to grow, now is the ideal time for us to grow our presence nationwide through franchising,” said Davis, who founded The Gents Place in 2008 with the first location in Frisco, Texas. “We’re thrilled that Emmitt has joined The Gents Place as a co-owner. Over the last few years, he’s been a huge fan of the brand and his incredible success as an entrepreneur will undoubtedly help us accelerate our growth and maintain our leading position in the ultra-premium men’s grooming market.”

“From the first time I visited The Gents Place, I was blown away by the quality of the experience, from the services provided to the ambiance. I loved feeling connected to like-minded individuals that believe in looking good and feeling good — which leads to the ability to perform like a champion. I had a sense of belonging,” Smith said. “I’ve been fortunate to have had success as an entrepreneur for the last decade and am excited about the opportunity to open doors for others who want to own their own business.”

The Gents Place prides itself on having one of the most unique service menus in the industry. Not only can guests enjoy an incredible hair service and shave in the best men’s grooming and lifestyle clubs in town, but they also can take advantage of all of the luxuries of a modern spa. In addition to offering men’s grooming services, The Gents Place is a purveyor of hard-to-find retail goods from all over the world including Rascal, Truefitt & Hill and Lakme, among others.

The Gents Place is seeking qualified franchisees to join the brand and currently has opportunities nationwide in markets such as Texas, Georgia, Florida, California, Illinois, Indiana, Maryland, New York, and Virginia. Prospective single- and multi-unit franchisees should possess a minimum net worth of $400,000 and liquid assets of at least $175,000. Candidates should have strong business, management and/or marketing experience. Franchisees can expect their initial investment to be between $440,955 – $705,980, including a $40,000 franchise fee. The Gents Place franchisees are provided with an array of tools to position them for success including: franchisee and management training, a proprietary web-based management system; ongoing, hands-on training for salon employees to learn our unique grooming methods, management and administration of a club; and advertising, marketing and public relations support. Additionally, The Gents Place provides assistance with site selection and construction.

To ignite national expansion, the company will be attending the International Franchise Expo (Booth No. 546) in New York City from June 16-18 at The Javits Center. Franchise executives from The Gents Place will be on-site to showcase the franchise opportunity and meet one-on-one with prospective franchisees to discuss the reasons to invest in the concept.

To learn more about ownership opportunities with The Gents Place, contact Bret Franson, director of franchise development at [email protected] or visit www.thegentsplace.com/franchise. Follow The Gents Place on Facebook, Twitter and Instagram for the latest news and trends.

The Gents Place’s robust franchise growth is backed by Elevated Brands, a brand management and development company established by the principals of Massage Heights, a membership-based, therapeutic services franchise. Earlier this year, Elevated Brands invested in The Gents Place to help grow the brand nationally through the franchising model.

The Gents Place
The Gents Place is the ultra-premium men’s grooming and lifestyle club that helps gentlemen look and feel their most confident best. Founded in 2008, the company has grown to include lifestyle clubs in Dallas, Southlake and Frisco, Texas, as well as Leawood, Kansas. The Gents Place provides luxury men’s grooming services in addition to straight razor shaves, shoe shines and hand and foot repairs in a refined and timeless environment. For more information on The Gents Place, visit www.thegentsplace.com.

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