80 minutes | Apr 27th 2017

Episode #14 - Building a solid, emerging franchise model

In this episode, Pete Baldine talks to us about how to build a solid, emerging franchise model. It is a very broad topic, but the episode is filled with great “take-aways” and is a must-listen for any emerging franchisor. Time Stamp Segment 1                                           03:01 Get to know Pete Baldine             Segment 2                                           33:58 Topic Segment – Building a solid emerging franchise model                          Segment 3                                           01:12:32 Quick-Draw Questions                                       Topics discussed in this episode: Establish a solid, proven model Running a business and being a franchisor are completely different Prove the model by establishing good unit economics so you can develop a solid story of success Be capitalized well enough to build proper infrastructure and support new franchisees New franchisee training FDD / FA Ops manual Ongoing training programs Stage One franchise system growth – friends and family Support friends and family franchisees and make them successful Search your existing franchisee base for success stories and duplicate them Stage Two franchise system growth – professional candidates Successful franchise sales requires a solid process What is a new franchisee worth – what are the costs The importance of establishing trust How to evaluate prospective franchisees candidates Don’t bury your franchisees with validation calls How to manage the franchise validation process Validation conference calls Listen to franchisees and build support program around that Supporting single-unit operators versus multi-unit operators and area developers Don’t grow faster than you can support your system Tracking Validation Communicating / Coaching franchisees before the validation call “Download” meeting with prospect after the validation call Evaluate how well candidate assesses information from validation call   Pete Baldine Moran Family of Brands pbaldine@moranbrands.com 708-297-2240   Kit Vinson FranMan Inc. (Franchise Manuals) Kit.vinson@franman.net 214-736-3939 x1
Play
Like
Play Next
Mark
Played
Share