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Franchisors: Learning To Speak “Bank” May Be Your Best Strategic Move In 2010

March 13, 2010

Adapted from Help Your Banker Say Yes! What franchisros and franchisees need to know to get financing today by John P. Hayes, Ph.D, with Geoff Seiber.

Franchisors: When’s the last time you talked to a lender about loaning money to your existing or prospective franchisees?
How good are your lender relationships?
Maybe yours is one of the few [...]

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How Franchisors Got Deals Funded In 2009 . . . How To Boost Your Funding In 2010

January 25, 2010
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While many franchisors claim that 2009 was an impossible year for franchisees to get funded, and thus their development numbers were lower than anticipated last year, the truth is good franchise deals were (and are) still being funded, according to Robert Coleman, publisher of the Coleman Report, a newsletter that focuses on SBA lending and features [...]

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A Brutal Message, But It May Be Just What Some Of Your Franchisees Need To Hear!

December 28, 2009
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Perhaps you’ve heard about the phone message that a high school in Queensland, Australia recorded for parents to hear when they called to complain about failing grades for their children? Apparently a group of parents is suing the school to demand that failing grades be changed to passing grades for students who were absent 15 to [...]

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Future Of Franchise Sales: How Franchisors Will Increase Lead Flow And Sell More Franchises

December 22, 2009
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One of the nation’s premier franchise companies has decided not to wait for the economy to recover to begin selling more franchises. Money Mailer is taking matters into its own hands with a revolutionary finance program that will allow qualified candidates to join the franchise network for a mere four-figure investment!
How many more franchisors will [...]

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Money For Franchise Start-Up, Expansion: Meet 15 Lenders That Will Lend To Franchisees

December 7, 2009
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If you’re a franchisor, reading this can save you $500! Franchise Matchmaking event will open the door for franchisors and franchisees seeking money.
Once upon a time, several large national lenders were eager — and quick — to lend money to franchisees for start-ups and expansion of their businesses. But no longer.
No national lending
“Today, there’s [...]

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Free Car Wash Cost This Guy A Day’s Labor…What It Cost The Car Wash Isn’t Really Funny!

November 14, 2009
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It may be a comedy of errors, but many businesses provide just about all the humor I need on any given day!
This morning I was at my local (you’ll notice I didn’t say favorite, but that’s a different story) Starbucks (no, it’s not a franchise) to enjoy coffee, biscotti the Dallas Morning News (the paper version), [...]

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Smashing Franchise Sales Records! Hooray, The Right People Are Buying The Right Franchises

September 29, 2009
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Have you heard what I’ve heard about franchise sales in 2009?
As the story goes: They’re dead in the water!
“We haven’t sold a franchise for all of 2009,” is the oft-stated comment that I hear from franchisors.
Franchising’s worst year ever?
Some experts predict franchise sales will be off by more than 50 percent this year, and when [...]

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Franchisees Prosper When Their Franchisor Provides A “Marketing Machine.” Got One?

September 25, 2009
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If your goal is to promote successful franchising and sell more franchises, focus on creating a marketing machine for your franchisees. That will set you apart from most of the franchise companies that are trying to sell franchises today. Marketing is one of the components that differentiates the successful franchise companies from those that are struggling. Successful marketing [...]

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Franchisors: For Cryin’ Out Loud, Your Under-Performers Are Already Hurting Your FDD!

September 7, 2009
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You said franchisors should get rid of their under-performers as quickly as possible. But won’t that hurt our FDD?”
The question popped up during my hour-long webinar, Getting Franchisees To Pay More Royalties Without Complaining!, which I recently conducted for Franchise Business Review.
To clarify the point that I made during the webinar, I explained that shortly [...]

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Five Lessons Franchisors Can Learn From Network Marketers To Expand And Build Their Franchise Companies

August 31, 2009
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Franchise companies tend to think of themselves as a level or two (at least) above multi-level marketing (MLM) companies, but having worked in both industries I have discovered that MLMers (or network marketers) do some things more efficiently and effectively than do many franchisors.
Five lessons
Here are five ways you can borrow from the MLM community [...]

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Franchisor: You Don’t Own Your Brand. Your Franchisees Do . . . Uh-Oh For Some Of You!

August 23, 2009
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Franchisor, you think you’ve got a strong brand and you probably do. You think that’s why you sell franchises and it probably is. It’s at least one of the main reasons that you sell franchises and prosper from your existing network.
You also think you own and control your brand, but you don’t. Your franchisees do!
Now [...]

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Three Steps To Ensure You Send The Right Message To Franchisees And Consumers

August 11, 2009
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During a phone consultation today with a franchisor — to prepare for a marketing and management workshop that I’ll conduct at the franchisor’s convention in a couple of months — we focused on a critical marketing challenge: building business around the buyer’s needs, rather than the organization’s.
This is a challenge that trips up large numbers [...]

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Happy Franchisees Are Validating Franchisees . . . Here’s How You Can Get More Validators!

July 22, 2009
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Happy franchisees are validating franchisees — they pay more royalties and they help you sell more franchises!
I learned that lesson as a franchisor and as a franchisee, and I can help your franchisees get happy (or happier) if you’ll just give me and them the opportunity!
4 hours of dynamic training online
I can help them if [...]

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Brand Buzz: First Step To Becoming A Franchise Media Darling; Then You Generate Leads That Result In Sales. Oh Happy Day!

July 21, 2009
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At a time when most franchise developers are working harder than ever to put a sale together, and many are complaining that it’s just impossible to get deals done, one Dallas developer seems to be having the time of his career!
What interests me, and perhaps you, too, is how the media are helping him succeed!
Enjoying [...]

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You Get A Paycheck? Then You’ve Got A VIC — And He Or She May Carry A Big Stick!

July 18, 2009
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While preparing for How To Capture & Keep The Right Customers, my upcoming, dynamic tele-webinar (it starts July 29), someone asked me:
“Will your information help me if I’m an employee? I sort of have customers, I’m in customer service, but they’re ultimately not my customers. So I’m wondering if your tele-webinar would be worth my [...]

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Is Your Franchise Marketing System Generating Profit? Or Is It Slowly Running You, The Franchisor, And Your Franchisees Out Of Business?

July 13, 2009
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You know there are “right” customers and “wrong” customers and while you may not (yet) know how to tell them apart before they become your customer, you know that the “wrong” customers deliver the least value and create the majority of problems in your business.
Who is a customer?
Customers (or clients), by the way, are not [...]

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Franchisor, Franchisee: Lock The Doors, You’re Losing Money! Or Change These Metrics And You Can Build A Satisfying And Profitable Business!

July 9, 2009

The franchisee thought I was crazy, insensitive or both when I told him:
“Quick, lock your front door and don’t let anyone else in because every time a customer walks through your door they leave with $90 of your money. . . . You can’t afford that! . . . . You’re losing money with every [...]

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“You Can’t Fix A Loser”. . .They’re In Every Franchise Network, Looking For More Misery

July 7, 2009
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When I read the words this morning during a coffee break, I laughed. “You can’t fix a loser!” said Dan Kennedy, one of my long-time marketing mentors. He doesn’t mince words, which is one of those love/hate things about him. Kennedy makes it clear that he’s not interested in making friends, so you don’t read him [...]

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Some Customers, Clients & Franchisees Need Their Independence. I say: “Give It To Them!”

July 4, 2009
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All customers are not created equal and not all customers should be your customers. But who do you let go? With one critical piece of information, and the answers to five questions, you can make those decisions flawlessly and improve your business! Some franchisees, customers and clients need their independence and I urge you to give it to them.

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How A Rookie “Mistake” With My First Franchisor Client Changed My Life

June 29, 2009
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This is one of my slice-of-life, memoir blogs. You may want to skip it — unless you enjoy behind-the-scenes treatments. This one is about the time I overlooked prepping my client before he sat down for his first TV interview and how the “mistake” helped build my career. Fortunately, things worked out for the client, [...]

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