5 Principles That Grow Your Franchise Into A Thriving Money Tree
5 Principles That Grow Your Franchise Into A Thriving Money Tree
5 Principles That Grow Your Franchise Into A Thriving Money Tree - To learn more about this author, visit Glenn Walford's Website.
Like this article? Share it with your friends
Five principles to apply to prosper in any franchise business no matter the category. Remember, the franchise business model is based on a 'formula' for success which is based on the success of the preceding and existing businesses in your brand. So don't mess with it, don't push back against it - try applying the below to your business;
1. Decide exactly what you want to achieve, open your mind up to all your possibilities and get a basic plan written.
- Get very specific on what you want to achieve - don't just drift from day to day,
- Create your goal statement of what you want from your business on monetary and lifestyle terms - make it down to the dollar, the hour, the activity,
- Writing goals down is the big factor between making them happen or not,
- See yourself vividly achieving all of it - dream big!,
- Make the plan basic - I like a single page plan with enough detail for what needs to happen, by who and by when - long plans do not get opened!
2. Open your mind up to new ways of thinking about your business.
- Be very aware that the impact of your past experiences will prevent you from allowing new concepts and change in - your 'biases',
- The Dominant Thought Principle - put your mind to work as it ALWAYS gets what it really, really wants,
- Your brain will filter out and you will discount suggestions to improve your business based on your 'programming' through past experiences, take care not to miss something great - this is very common in the franchise business model.
3. Connect & Engage in Deep Collaboration as close as you can with your franchisor.
- I'm so big on this - you must take the lead to pull your franchisor closer to you and get them along for the ride you are taking to grow your business,
- Connect - make all your forms of contact with franchisor staff positive and about what you are trying to do to grow your business and how you would love their input,
- Engage - bring the franchisor in on your goals and plans, let them have input to what you are trying to achieve, let them in,
- Deep Collaboration - act like you are both equally in the business together, their business and your business.
4. Become insatiable in the marketing of your business - get known for something and make marketing your focus, not the making.
- Be relentless in your efforts to market your business, look for angles and opportunities everywhere you go,
- Become a student of marketing from everyday life by looking at what everyone else is doing and if you can leverage by piggy backing or 'modeling' what others are doing,
- Get known for something that is appreciated by your customers other than the basic offer you provide and is expected - make the experience with you special, memorable and surprising,
- Make marketing your focus, not the making or doing in your business - the money is in the marketing.
5. Become an expert in leveraging the system of your franchisor. Adopt 'the system runs the business not you' attitude.
- Learn your system inside out,
- Implement the system in its entirety in your business,
- Strive to squeeze everything you can (fairly & reasonably) from your system,
- Find what's on offer, and what's not, such as extra training, product trials, marketing activities, extra store visits and input,
- Utilize absolutely everything you can as you would be surprised at how much is left on the table in the way of resources by franchise owners.
If I had a sixth principle it would be to be an ACTION taker. Even if the action is wrong it is still action and you have momentum to quickly swing back, change it and start a new course with that momentum.
Strive to Thrive!
5 Principles That Grow Your Franchise Into A Thriving Money Tree - To learn more about this author, visit Glenn Walford's Website.
Like this article? Share it with your friends
 | |
 |
No article feedback found. |
| |
Leave Your Feedback |
 | |
| |||
John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
|||
Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
|||
Kim CastleWith nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website |
|||
John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
|||
Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
|||
|
To learn more about the Evan Elite Author Program please contact us. | |||
 | |
|  |
Subscribe to Glenn's articles
 | |
|
|  |
 | |
|
| |
 | |||||||
|
 | ||
|
||
 |
||
|
||
|
| ||
 |
| Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details. |
|
|
 |
| Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media |
|
|
 |
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"
Click Here To Learn More |
|
|
|
|
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
|
|
|
 The Money Game Powerful Living Instant Scripts Selling Shovels Pulse Check Assessment |
|
 | ||
 |
Top 50 Franchising Blogs
Top 50 Franchising Blogs | |
 |
Top 50 Blogs For Startups
Top Blogs To Watch In 2009 | |
| ||
 | ||||
| ||||
|
| ||||
| ||||
|
|
|
|
|
|||
|
Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
|
|
|
| ||||||||||||
| ||||||||||||
|
|
||||||||||||