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Annual Franchise Convention
Written by: John PowerArticle Overview: The annual franchise convention can be a valuable and important way to communicate, recognize, interact, communicate, and strengthen your franchise organization.
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Annual Franchise Convention
One of the operational traditions that you should establish early in your franchising program is holding annual conventions.
Conventions can be used to celebrate success, recognize high-performing and supportive franchisees, provide training, announce new programs, and prepare for the next year.
Your convention development might go something like this:
Number Franchises Convention
5-10 Held at a nice restaurant, or a golf outing with a meeting.
10-50 Meet at a nearby convention hotel for two days. Have meetings, dinners and activities sponsored by industry suppliers.
50-100 Meet at a resort hotel for two to three days. Have meetings, dinners and activities sponsored by industry suppliers. Bring in consultants and speakers who can help the franchisees become more successful.
100 to 500 Meet at a resort hotel for two to three days. Have meetings, dinners and activities sponsored by industry suppliers. Bring in consultants and speakers who can help the franchisees become more successful. Contract a named entertainer for one of the events.
There is no set rule regarding conventions, and there are companies that specialize in organizing annual conventions for franchise organizations. The Franchise Agreement normally requires franchisees to attend an annual convention at their expense, but you should limit the total number of days so that their cost won’t be excessive. Some business conventions have special activities for spouses and children.
You should consider issuing press releases to your industry and to the general business community before and after the convention.
We recommend that you always hold an annual convention of some sort. Even when you first start selling franchises, establish the tradition and have your first convention. Make it fun, and make it something to look forward to each year.
More information can be found at: www.biltmorefranchise.com
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Article Tags: br 50, business community, business conventions, convention hotel, franchise agreement, franchise organizations, franchisees, franchises, general business, golf outing, industry suppliers, nice restaurant, press releases, resort hotel, speakers, tradition, traditions
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Related Forum Posts
Re: Enticing Franchises - Top 9 List
- All Franchise listed above are in millions of dollars. Do you have the list of Franchise in thousands
Re: Info for would be franchisers...
- [quote="Sebastien":1d29sdv1]Like Franchise Times, Franchise Update is a very practical magazine. There is no blah blah, just straight facts that anyone in the franchise community can relate to. I just want to mention that all these magazines are NOT franchisee oriented. I mean these magazines are for franchise professionals. If you're looking to buy a franchise, you won't find much information in there.
To answer your question, getting published in Franchise Times was fairly easy. I don't want to brag too much but I think I am known in the franchise industry. I was the marketing guy at Franchise.com for a few years before joining my new company, the World Franchising Network. So people know me and I have a very good relationship with Nancy Weingartner, the Managing Editor at Franchise Times. I was talking with her at the last Franchise Expo South in Miami and she mentioned she'd like me to be profiled. I was like "ok, sure!". I like this franchise executive profile thing in Franchise Times as it is rarely BS. People are usually really natural in there.[/quote:1d29sdv1]
Thanks for the follow up Sebastien! And I can't say that I'm surprised that networking with the right people and managing your relationships with them properly are the keys to being published.
I guess the old adage holds true of "it's not who you know, but who knows you" that's important.
how much for a franchise fee?
- Dear Colleague
There is no easy answer to this question. Things to consider:
[list=]
The sizeof the Franchise
Clent base
Expected Turnover
Intellectual Property costs (recoup)
Number of Franchises
Number of employees
Original Set up costs
Franchise admin costs
An example: A franchise that I was involved in setting was to a simple "lawn mowing/home repair" franchise. The Franchise included national/local advertising - preparation of client lists - general admin - central accounting etc
The Franchise involved 300-500 clients - and an annual turnover of about $300,000 . The annual franchise fee was $30,000.
Hope that this gives you some idea
Take care
Ian[/list]
Partner with them
- Welcome to the Group TMR,
Some ideas of people you can partner with for the Custom Napkins:
- Wedding Planners
- Photographers
- Annual General Meetings for Corporations
- Pageants
- Hotels
- Elite Restaurants
- Elite Spas
Re: Franchise Surveys
- Another good tool to researching a franchise is to speak with their existing franchisees.
This contact information is included in most Franchise Disclosure Documents. In order to get a Franchise Disclosure Document or FDD as it is often referred to, you will have to complete a basic franchise application.
The franchisor will then usually provide you with the FDD at that time. Included in that book of information is a list of the existing franchisees, the contract, the investment information etc...
This information is required by Federal Law to be disclosed to your prior to making a purchase.
So be sure to do your research and start with the Franchise Documents to get the initial information.
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