Blog | Franchise Grade Team (4) | FranchiseGrade.com, Inc.

Do You Hug Your Franchisees?

May 16, 2017

The first franchise I worked for, over 35 years ago, was founded by two brothers who started with one franchise and grew it to a network of Convenience stores with 500 franchise locations. The franchisor grew into a publicly traded company and a top franchise. I often say, that I learned the fundamentals of successful franchising from them.

Top Franchises Know Their Competitors

May 9, 2017

Having good competitor intelligence is important for selling new franchises and growing existing franchisee revenues. One major difference between the top franchises and the rest of the franchise industry is that the top franchises have an in-depth understanding of their competitors. Knowing which franchises are a threat to your franchise network development requires diligence and acquiring the right information. This means knowing who your competitors are - their strengths and weaknesses. I often hear comments from franchise executives that their franchise system is unique and impervious to competition. As my marketing professor told our class many years ago: “No one owns the market.”

Multi-Unit Franchise Candidates Expect Franchise Intelligence

May 3, 2017

Having recently returned from another Multi-Unit Franchise Conference, hosted by Franchise Update Media, I was reminded how franchise savvy and focused most multi-unit (MU) franchisees are. In addition, the franchisors that exhibited at the conference were top quality systems. Therese Thilgen, president of FUMG stated in part that “68 percent of our MU attendees are seeking to add more brands. 47 percent of them generate revenues of $10 million and greater and 25 percent operate MU franchises that generate revenue of $30 million or greater."

Unchecked Ego Can Lead to Problems for the Franchise Leader

May 3, 2017

Ego can be used to describe a person's sense of self-esteem or self-importance. Synonyms for ego include pride, self-esteem, self-regard and self-respect. Although ego can be used to denote a negative personal trait it’s a necessary attribute for those who strive to inspire and lead. Ego is usually found in abundance among numerous entrepreneurs. Problems can arise when a leader’s ego dominates issues or actions. Jeff Haden writes: “Ego is necessary and important because it does the work to assemble your personality. It manages your fragile identity while you figure out who you are. It protects you from the onslaught of societal expectations and motivates you to work hard and achieve great things.”

How Data Will Help Sell More Franchises

May 1, 2017

When selling a franchise, franchisors need to provide the prospective franchisee with the right information needed to make an informed decision and a carefully drafted Franchise Disclosure Document (FDD) is a key component of the process. To be a top franchise, prospects need to be convinced that the franchise you’re presenting offers the best opportunity for success.

Emerging Franchise Systems Have Potential for Growth

April 28, 2017

To develop a top franchise, a franchisor needs to offer a financial opportunity for prospective franchisees with a minimum of risk. To fulfill this objective requires the following:

How Small Franchises Can Grow Without Getting Big

April 13, 2017

Although it can be challenging for a small franchise (those with less than 50 units) to achieve the size and scale of the larger systems, it doesn’t mean that a smaller system can’t be successful. In some cases, a smaller system has certain advantages over large systems. For example: more available territory, the appeal of a new, undiscovered franchise opportunity, the chance to begin on the ground floor.

What’s Pushing Your Buttons?

April 3, 2017

What motivates you? Are you motivated by fame, fortune or fear? Or is it something deeper that fans the flames inside of you? Perhaps you are like Jeanne Louise Calment whose burning desire enabled her to do something that no other human being has done before. A feat so spectacular that it generated headlines around the globe, got her a role in a motion picture, and landed her in the Guinness Book of World Records. A record that has yet to be beaten.

Six Major Mistakes of Emerging Franchisors

March 27, 2017

There are over 500 start-up and emerging franchisors competing for only 3.6% of all new franchise sales. This situation makes it challenging for you to build your franchise system to sustainable levels. Many franchise founders start their franchise with a great deal of optimism and have invested significant money to build their franchise system only to find themselves with less than five outlets, three years later.

The Best Development Strategy for Emerging Franchisors

March 24, 2017

One of the striking facts about franchising is that 45% of all franchise systems have less than 25 locations and over the last 6 years these systems account for only 3.6% of all franchised outlets opened. These statistics mean that you face a tough challenge. In order to overcome the challenge, you must develop your franchise strategically and it’s not just about having a competitive advantage.