Emotion: Passion
Share /
How To Find The Best Franchise Opportunities
Posted by Ed Teixeira November 26, 2018
Individuals looking to find the best franchise opportunities have a number of options to choose from. One of the options, the annual franchise ranking reports, are published on numerous websites and publications. These ranking reports include the Top 100 to Top 200 to Top 500 Franchises. The problem with relying on these rankings is they are limited. Many of them rely on the size and growth of a franchise system without analyzing important performance factors.
Read moreA Road Block to Franchise Growth is Right Under Your Nose
Posted by Ed Teixeira November 23, 2017
New franchise growth is the top priority for emerging franchise brands. Yet, many of these franchises have an obstacle on the road to more franchise locations. They miss the important step in the franchise process. That is at the beginning, a candidate needs to speak to a franchisor representative and the franchise does not provide one.
Read moreThe Two Traits You Need in A New Hire
Posted by Jeff Lefler October 27, 2017
I’ve hired and fired many people in my business career especially during the early years of my businesses. Most of the firings were the result of hiring the wrong people. As I reflect on those experiences I realized that it was my responsibility that those people were fired. I was looking for the wrong traits when I hired those employees.
Read moreThree Reasons Why Your Business Could Fail
Posted by Jeff Lefler October 13, 2017
Starting a business can be exhilarating, challenging and rewarding. The excitement and thrill of building a successful business from the ground up is difficult to top. But the excitement and enthusiasm can quickly fade away to a daily grind and workload that can break some people. I’ve read that 96% of businesses fail within the first 10 years. To me, this statistic seems a bit high but the specific percentage doesn’t matter it’s the fact that most businesses fail within 10 years.
Read moreMonitoring your Consumer Sentiment Is Key to Selling your Franchise
Posted by Ed Teixeira October 12, 2017
Of all the products in the Franchise Intelligence platform, Consumer is the most innovative. For the first time in the franchise industry, franchisors can view the comparisons and relationships between consumer satisfaction for the products or services a franchise offers and the performance of the franchise system.
Read moreHow Delivering Bread Is Like Writing an Email
Posted by Jeff Lefler September 25, 2017
I owned a Canada Bread franchise for almost ten years. I delivered over ten million loaves of bread. Every morning at 2am I’d be in the grocery store shelving bread so that when the store opened and customers came in, the section looked great. I am proud of what I did. Proud that every day that section of the grocery store was perfect.
Read moreFranchisings Biggest Problem - Consumer Driven Investing
Posted by Jeff Lefler September 7, 2017
We all joke about the concept of a prospective franchisee investing into a franchise because they like the taste of the food. They went to an out-of-town restaurant on a Saturday night and it was packed so they want to bring it to their home town. They had a personal consumer experience with a company and were happy with the result. They’re passionate about the services offered to consumers by that franchise, so they’re excited about the brand.
Read moreThe Importance of Benchmarking Franchise Performance
Posted by Ed Teixeira August 21, 2017
Franchisors looking to establish an effective franchise expansion strategy need to have the proper tools to be successful. This means having a quality Franchise Disclosure Document and a track record of successful franchisee performance. Constructing an effective franchising strategy starts with knowing who your competitors are and how well they are performing. You need the ability to compare your franchise system performance to your competitors, both strong and weak. Benchmarking your franchise system against your franchise category, franchise sector and individual franchises requires the right data.
Read moreThe Most Successful Franchises Know Their Competitors
Posted by Ed Teixeira August 18, 2017
A sign of a successful franchise system is knowing your competitor’s franchise offering. When we speak with top performing franchisor executives regarding their success, a common response was how well they knew their competitors. This knowledge was the result of hard work on the part of the franchisor and its franchisees. It means that each competitor is analyzed. It requires knowing how the key components of competitor Franchise Disclosure Documents compare to your franchise.
Read morePicking the Right Location for your Franchise
Posted by Jeff Stephenson July 31, 2017
The location plays a key role in the success of any business. A franchise business has a brand name, but the location determines the number of customers who enter the space and purchase products. By selecting the right location for the franchise, you will see a positive impact on your profit margins.
Read more