From the monthly archives:

May 2009

You Keep Your Franchisees Because You Are The Market Leader. You Are, Aren’t You?

May 30, 2009
Thumbnail image for You Keep Your Franchisees Because You Are The Market Leader. You Are, Aren’t You?

Does your franchise, your business, your company, own the hearts and minds of your franchisees and customers? Differentiation earns hearts, minds, money If not, you haven’t done your job. If not, you haven’t differentiated your business. That means you’re not capturing and keeping franchisees and customers. It also means you’re under-performing financially. Fear is the [...]

Read the full article →

Franchise Brokers: In It For The Money, Or Do They Really Provide Value In Franchising?

May 28, 2009

  They want how much money?” I asked Jason Killough, my VP of franchise development at HomeVestors, where I was the CEO. “Fifteen k,” he said. “Fifteen k to send us a lead to buy a franchise? Are they out of their minds?” Look at all they do! Calmly, Jason continued, “It’s not just to [...]

Read the full article →

Creating Loyalty Only Occurs When There’s Value, And Value Is In The Eye Of The Customer

May 25, 2009
Thumbnail image for Creating Loyalty Only Occurs When There’s Value, And Value Is In The Eye Of The Customer

Giving customers what they really want isn’t as simple as selling them the products or services that they’re buying. Because quite often, customers don’t know what they want until it shows up! The famous haircut story Readers who have known me for years, and students from my Marketing Mentor program of the late 1990s, will [...]

Read the full article →

The F-Myth: Michael Gerber Explains Why Franchising Doesn’t Work For Entrepreneurs

May 19, 2009
Thumbnail image for The F-Myth: Michael Gerber Explains Why Franchising Doesn’t Work For Entrepreneurs

If you’re a franchisor who has sold a franchise to an entrepreneur, read this! It explains why you’re frustrated.  If you’re an entrepreneur who bought a franchise, read this! It explains why you’re unhappy.  Hurry! Because in neither case will things get better. Of that I am certain. Michael Gerber says so, too! So is [...]

Read the full article →

Franchisors: Franchisees Must Be Treated Equally? Franchisees: Customers Must Be Treated Equally? Someone’s Talking Nonsense!

May 17, 2009
Thumbnail image for Franchisors: Franchisees Must Be Treated Equally? Franchisees: Customers Must Be Treated Equally? Someone’s Talking Nonsense!

Who says all franchisees must be treated equally? Or that all customers must be treated equally? Both notions are nonsense! Worse: They’re fiscally irresponsible. Customer entitlement must be earned Today I’m at the Las Vegas Hilton, just hours before speaking to a major convention, and there’s no place better than a Vegas hotel casino to [...]

Read the full article →

Franchisors & Franchisees: Keeping Customers Should Be Your #1 Priority Now

May 15, 2009
Thumbnail image for Franchisors & Franchisees: Keeping Customers Should Be Your #1 Priority Now

Who’s going out of their way to keep you as a customer these days? . . . Can’t think of anyone? You’re probably right. And isn’t that just wrong? Especially now. This is a common business error Business owners — including franchisors and (especially) franchisees — make this same mistake repeatedly. They even do it [...]

Read the full article →

Inaccessibility Makes You Feel More Important But Are You Missing Growth Opportunities?

May 14, 2009
Thumbnail image for Inaccessibility Makes You Feel More Important But Are You Missing Growth Opportunities?

The Wall Street Journal is calling . . . they want a quote from your CEO for an article they’re running about your industry, and it would behoove your company to be represented. Would result in numerous franchise sales leads, as well as other inquiries that could lead to growth opportunities for your business! Something [...]

Read the full article →

What’s It Cost You NOT To Franchise Your Business?

May 7, 2009
Thumbnail image for What’s It Cost You NOT To Franchise Your Business?

We’ve seen numerous articles through the years about what it costs to franchise your business, but I suggest you think about it another way: What’s it cost you not to franchise your business? Loss is greater than the cost The cost to franchise a business varies greatly, from less than $40,000 to more than $150,000, and [...]

Read the full article →

34 Action Items That Lead To More Control And Success For Franchisors And Franchisees

May 5, 2009
Thumbnail image for 34 Action Items That Lead To More Control And Success For Franchisors And Franchisees

It wasn’t bad enough with the depressed economy. Now there’s swine flu. And the kids are home from school! More to complain about, if you’re a complainer. More to be concerned about, if you’re a worrier. More period. Suddenly you get the idea you’ve lost control and there’s not much you can do about any [...]

Read the full article →

8 Steps To Calculating Maximized Customer Lifetime Value. Critical Number To Know!

May 3, 2009
Thumbnail image for 8 Steps To Calculating Maximized Customer Lifetime Value. Critical Number To Know!

This blog continues my discussion relative to customer value. I urge you to read the previous blogs about this topic — for both franchisors and franchisees. Here’s where you can find them:   Read these past lessons first Franchisors: What Business Are You In? How Much Did That Franchisee Cost You?  Franchisor: What’s The Value [...]

Read the full article →

Franchisees: Get Double-Digit Sales Increase Without Additional Investment

May 1, 2009
Thumbnail image for Franchisees: Get Double-Digit Sales Increase Without Additional Investment

Sometimes a sales increase is as easy as returning to your core business and paying attention to what the customer wants. Double-digit sales increase At a recent Franchise Business Network meeting in Dallas, a member of the audience told how he had helped a well-known convenience store franchise gain double-digit sales growth. “When we cleaned [...]

Read the full article →