Tag Archives: franchisee recruitment

Millennials – A Potential Pot of Gold for Franchisors

I never really understood the term ‘millennials’ until I read this BNET (The CBS Interactive Business Network) blog article from Andrew Tilin aptly titled “What is a Millennial?”. Now, with his thoughts on what a cultural shift the emerging millennials will bring matched with the talent drain from the retiring Baby Boomers – its got me thinking!

If you are thinking of growing your business in the future, you need to seriously read this article and take heed of the global picture of what this cultural shift means for business in general. As a Franchisor, this will affect how you plan to market to prospective franchisees going forward – i.e. will you need to start some more community initiatives to grab a younger audience that will grow to be your perfect franchisee?

Andrew writes in his article that millennials have grown up in an environemnt which understands workloads, appreciates being appreciated, and thrives on technology – so they are confident in time scheduling, taking directions and are really comfortable with the online world (especially social networking). As a Franchisor, I would hope that you are ensuring that you are thinking really carefully about where you will find your new franchisees of the future, because it won’t be as easy as sticking an advert somewhere – the world is changing.

However – there is one main positive aspect which I really liked in this article and that is that this generation of “millennials” or Generation Y are a confident lot…we (because I am one) are happy to work hard, but we are only motivated to work for people in authority who deserve the respect and mentor us. To me, those characteristics are a great foundation for any franchisee.

Upon reading the comments that readers have also posted on this subject, I have to also point out that there are a lot of Baby Boomers who will not just disappear into blissful retirement. A lot of them still like working, even if in a more flexible manner – and this, to be honest, opens up another pool for Franchisors to delve into for prospective franchisees. These guys have life experience and have collected skills which are another goldmine for you – so don’t knock them out of the game just yet.

My message? Get more flamboyant with how you recruit franchisees – but also – think of the global trend of the age we now find ourselves in (the “Information Age”)…we have moved on significantly from the Industrial Age

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Economist Online Fairs Presents: The Economist’s Franchise Fair

A GUEST POST by Elizabeth Pace, Marketing  & Online Fairs. The Economist Group (New York) __________________________________

If you are thinking about investing in a franchise, The Economist’s online Franchise Fair provides a unique opportunity to meet a variety of franchisers and consultants in real time. The fair is hosted by Economist Online Fairs and takes place on June 28th and 29th 2011. Admission is completely free, but space is limited so register in advance.

The Franchise Fair will feature over a dozen leading franchises and consultant firms that can offer free tips and advice to attendees, whether multi-franchisees or first-time investors. Exhibitors include Nationwide, Maid Brigade Valpak, Yogurtland and many more. For a full list of exhibitors, visit the registration site.

Fair attendees can join topical chat sessions, access testimonials and download resources. There will also be informational webinars hosted by franchise experts, where attendees can interact and ask questions, including:

  •  International Franchising: What to Look For When Purchasing a Franchise
  • Why Buy a Franchise?
  • Nationwide Mutual Insurance Company: An Opportunity for Entrepreneurs

The state-of-the-art online fair interface is modeled after a traditional tradeshow.  Attendees can log in from their home or office computers and browse virtual exhibitor booths at their leisure. The fair will be open for a full 48 hours. There will also be several live sessions during this 48-hour period where exhibitors will be available to chat live.

Franchise Fair Live Sessions:

  • June 28: 9:00 AM EST to 1:00 PM EST  (1pm GMT to 5pm GMT)
  • June 28: 4:00 PM EST to 8:00 PM EST  (9pm GMT to 12am GMT)
  • June 29: 12:00 PM EST to 4:00 PM EST (4pm GMT to 8pm GMT)

 Register FREE today! 

Questions or comments can be e-mailed to CustomerSupport-OnlineFairs@economist.com.

Find Your Pizzazz Magnet

If there is anything that the economic climate over the last few years has taught us – its that you have to hold on to the people who are incremental to keeping your business going. Problem is…which business owners are mature enough to identify that they are nothing without the team behind, alongside and in front of them? Well…the answer is very few.

The franchising world is not different by any means – a franchisor is nothing without his franchisor team nor his network of franchisees. So, action must be taken to identify what your PIZZAZZ is…capture it, protect it and nurture it. Now, you’ll be asking yourself – what on earth is she on about?

Well, one of the success factors in businesses that consistently grow and improve their profits year on year – is EMPLOYEE LOYALTY. If your team love the work they do, enjoy the environment they are in and more importantly are supported in moving forwards in their careers – you are more likely to have a business that is growing naturally and encourages profits to steadily increase.

One of the biggest elements I bring home to any prospective franchisor I work with is that if you create a business that is motivating, sustainable and full of potential…that in itself will attract fantastic franchisees your way. It costs time and money to recruit franchisees – so once you have brought one into the fold – the last thing you want is for them to leave.  In my strategic planning phase of work with a new franchise client – we map out the franchisee’s life span over 10 years (preferably covering two franchise terms approximately) – and plan for their growth as a franchisee and as a business owner. This way you can already have the right things in place to cater for the way the franchisee will mature and change…and as a result…their comfort needs will change. By pre-empting these need changes as a franchisor, you will give the impression of being emotionally intelligent, engaged in your business, supportive and more specificially…a franchisor worth staying with!

If you know what your Pizzazzz is in your business (i.e. the MAIN thing that attracts people to you/your business) – then make very very sure that you know how to maintain it and infiltrate it into your business model. There is nothing more satisfying than hearing your very own employees, associates or franchiseees (in a franchise case) “sell” you and/or your business to everyone they see and come into contact with. That in itself is priceless.

In the world of social sharing that we are in – you need to maximise the loyalty you have in your team, feed it, nuture it and then turn it outwards into the digital world – because that’s where your Pizzazz becomes viral and magnetises you as a brand and a business that people want to buy from, work for and buy into.

I’m interested to know what your Pizzazz is? Let me know by commenting on this post and please do share it with your colleagues, business contacts and your own readers – it would be really great to hear from as many people as possible!

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Find out more about social media engagement by checking out my other business called Social Intelligence….we teach you how to engage ‘intelligently’ and how to engage your team to use social media as a megaphone to shout about your brand and draw business to you. You can have a look at the website here, find us on Facebook here or follow us on Twitter here.

Recruit SMART, Grow SMARTER

One of the (many) things I do harp on about to new prospective franchisors is: be specific and very clear about what a good franchisee looks like and then go out and with the precision aim of an assassin….find them, bring them on board and LOOK after them.

Franchisee recruitment is not dissimilar to normal business staff recruitment. You need to be incredibly mindful of the ‘job’ at hand, what the skills are that are needed to carry out that ‘role’ successfully and most of all…look for what the career growth path would be for that individual. The extra element that you want to perhaps plan for in recruiting for franchisees is cultivating a ‘perfect’ franchisee who will end up with the operational, hands-on experience that might well be useful to you in 5 to 10 years time.

What do I mean by this? Well, if you are smart (and I hope that you are) – you are setting up a franchise with two views:  1) To Grow and 2) To Exit. By recruiting some golden nugget type franchisees who have the special ‘putty’ to become fantastic, you will be sowing the opportunity for having a managing director, operational manager or even a team of super-staff who will add value and a glow to the business…making it even more attractive to a buyer. Having a team that doesn’t purely hinge on you or your operational knowledge makes a business very sellable.

Bear in mind, these individuals would not remain as franchisees should they start to work for the franchisor – so you will need to think about what you can offer them that will make the career move from business ownership more enticing. Some suggestions on what to offer them:

(a) Taylored package that is heavily incentivised by their results and input (commission %; target incentives like holidays; etc)

(b) Good company benefits (which are rare to find, especially in the UK, and will therefore be very attractive!)

(c) Small shareholding in the business (relative to their role of course)

(d) Input into how the business grows going forward (i.e. make them an integral part of the executive team)

I’m sure there are many more elements you could incorporate into  a package to tempt an existing franchisee into your franchisor fold, all I’m saying is – bear this in mind right from the beginning. Imagine having a team of strong franchisees who (at any point) you will love to be your right hand man/woman? Now compare this picture to merely having the recruitment criteria mindset that anyone with a pulse will be accepted to become a franchisee! (My fury over this point is enough to write a whole post just on this!)

So, what’s my message? When you are planning who you are going to have as part of your network: think long and hard about where you want to be in 5 to 10 years time and how much value you can add by recruiting the right people. By being SMART in your recruitment tactics, you will be growing your business in a much more planned and efficient way (i.e.SMARTER growth!)

Social Media: Branding and Franchise Recruiting Tool?

A good social media campaign will act as a very powerful brand building and recruitment tool for start-up franchisors (or those thinking of franchising their businesses in the next year or so).

One of the first things I look at when a prospective franchisor approaches me is a good brand image (or at least the beginnings of one). The next thing I look at or question is its impact on the customer target market (is it well understood; is it well respected; is it something they will tell their friends about; etc).

For any small business trying to build a brand, it is very clear from the outset that very few can afford to spend a ton of money on marketing and advertising to get their brand in the forefront of the consumer’s mind. Now, with the advent of social media and its prevalence in the new generation of consumer – growing a brand couldn’t be easier. Of course it still takes careful planning, design and message architecture, so please don’t minimise the importance of that!

Now – where do you start? What kinds of social media should you be using? Well – it does depend a bit on what your target audience is:

1) As a franchisor
(i.e. which prospective franchisees do you want to attract), and

2) As a business
(i.e. the target customer of the product or service).

The things I would suggest you look into are:

BLOGGING: This is an often misunderstood platform and a lot of people fear it because they think that they have to be writers to do it. Not so. I mean – yes its important to not make huge grammatical and spelling errors because this will lead to an unprofessional reflection on you and your business by default. The thing about blogging is h however two-fold: the number of blogger readers in the world is staggering (we are talking in the 100’s of millions) and Google loves the constantly changing and rich content.  For some blogging tips have a read of this article – Top Ten Easy Steps to Starting a Business Blog – by Denise Wiseman.

Denise rightly says : ” Blogging should be one of the cores of your business. It should be right in the middle of your social media mix—the bulls-eye, the main target.”

FACEBOOK BUSINESS PAGE: This is VERY important to set up and I mean VERY important. If you don’t already have a presence on Facebook, then I strongly suggest you get started today. Again – please pay attention to your brand, your message and what you want to get out of the exercise. If you want to know more about what Facebook is about have a listen to my podcast here and it you need tips on how to get started on Facebook, think about buying some very easy to understand guides by Kirsty Wilson of Interim Business Solutions…click here.

Through this Facebook Business (Fan) Page you will be able to engage with an audience, find out what people think about your brand, and run recruitment campaigns for new franchisees! Never minimise the importance of creating (and sustaining) a buzz about your brand or business culture.

I think to start, these two major platforms are good to go with, I don’t want to overwhelm you with too much in one go! As a business you will also need to look into Twitter and some of the social news bookmark mediums – but we’ll save that for another time!

Do let me know how you get on!


A ‘FAN’ yet of my Expert Franchise Guide page on Facebook?
Go to: www.facebook.com/expertfranchiseguide

Family Franchise Businesses

More and more the trend nowadays is for a family to come together to make a business work.

Through a survey I did towards the end of 2009  – I’ve found that the growing trend is that people are pushed out of employment and into self-employment for a variety of reasons. Some of these are:

1) Dissatisfaction with the quality of management within their current job

2) No incentive provided in the workplace for any initiative or true involvement in the business (in fact any ideas are squashed before they are even heard), and most of all…

3) No real financial reward (vs the time and effort put into the job) that matches expectation (this includes time in lieu of many hours of overtime above and beyond the call of duty).

So, what does this mean? Well, you will probably be so unhappy that your family around you may well say ‘Hey, why don’t we just do something for ourselves?’. This is why franchising then becomes an attractive idea – because:

  • There is a lower risk at start-up (especially with established franchise models with proven statistics and performance from current franchisees)
  • Any money invested upfront is going towards business support, set-up etc – and this has all been worked out for you
  • Working with people you know and trust (your family) helps to eliminate the worry of employing unreliable staff

Now, of course, we could have a whole discussion on the dangers of going into business with family – but there are more than enough families out there making a go of it than you think!

The top tips for making a family run franchise business work?

  • Everyone needs to have their own roles very clear from the outset
  • Someone is elected as the Boss (end of story)
  • Someone is elected as the Organised One (every business needs one of these) – to whom everyone needs to listen to in order to be efficient and cost effective
  • Someone is elected as the Finance Person (every business needs one of these – this maybe outside of the business)
  • Everyone needs to be earning a salary (or at least agree what that WILL be in the future…give a date…if there is a consensus to hold off for the first few months)
  • A Team meeting needs to happen at least every two weeks to have a talk around the table to clear any issues, or PAT anyone on the back for a job well done

Respect who you are working with and they will respect you – this goes DOUBLE for family run businesses. Mom, Dad, Daughter, Son, Aunty, Uncle….those titles are not relevant during the work day.

Have you had any experiences working in family-run business? Please do let me know about it in the comments box below! I want to hear good and bad stories!

Franchise Agreements: Negotiable or Not?

I have just seen a conversation on Linkedin about the subject of being able to negotiate on Franchise Agreements.

I am of the strong opinion that in the UK, these agreements are not up for negotiation because if the model has been put together ethically and profitably for both parties in the first place there should be no need for negotiation. In my humble opinion it would indicate a weak system and/or franchisor if he/she did negotiate the terms – all franchisees should be on the same terms and be subject to the same compliance issues, advantages, etc. (Of course there are some models that have to have an exception to this – especially mixed models.)

Of course the law is different in other countries (and even in states in the USA) and sometimes the option is not even available. What I do like is that if an agreement is altered for one franchisee – it is made public and everyone will know about it. Unless I have misunderstood that point?

What do you think? I would be interested to know.