You get the people you deserve in your franchise business

The 16 cylinders of a powerful team

This is true for any business, be it a Franchise or otherwise.  So I teach my coaching clients a concept called The 16 Cylinders of High Performance. Imagine that each person in your franchise team is like a powerful engine with 16 cylinders.  Wow, imagine the performance you could get from an engine that massive! But what if some of your team are only firing on 12, or 8, or even 4? Your goal as the leader of your team is to ensure that each person is running on ALL 16 cylinders.

Human beings are comprised of four main components: body, mind, “heart”,  and spirit. Each person has several components, let’s call them cylinders and assume there are 16 cylinders made up like this:

Body- 3 Mind- 3 Heart- 5 Spirit- 5

The average business only recognizes the first two “body and mind”. These represent what you see on someone’s resume: skills, experience, knowledge, training. But represent only 6 of the 16 cylinders.

The other ten are heart and spirit. These are the attributes that tell you whether a person has the drive, passion, attitude and get-up-and’ go for the job. These are the attributes you must constantly engage to achieve high performance, loyalty and “going the extra mile” from your team.

So how do we do this? First of all, look at WHO you are being as the leader. Are you passionate about your business, your customers and your team? How do you demonstrate that each day? Do you inspire and enroll your team? Do you celebrate and recognize achievements?

If you don’t already have one, develop a vision and a mission statement, so that you are crystal clear on your company’s direction and why someone would want to come and work for you. Develop your company’s “Rules of the Game” and communicate them to your team.

Familiarize yourself with the Six Human Needs that Anthony Robbins has written about: significance, connection, growth, contribution, variety, and certainty/comfort. Four of these are critical when you’re aiming to engage your team’s heart and spirit.

Significance: Help your franchise team members to see meaning in their work.

Connection: Make sure your business is somewhere that your team feels a sense of belonging and camaraderie.

Growth: Give your franchise  team members opportunities to become better, to stretch and excel.

Contribution: Show each team member how their work contributes to the  franchise business and to the wider community.

Finally, make sure you’re working to become a better leader, and then you will get the people you deserve – the ideal team.

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I provide no-cost assistance to entrepreneurs nationwide, helping them identify franchise business opportunities that match their interests, backgrounds and financial means. I offer hundreds of business opportunities in a multitude of categories.

I am an affiliate of the world’s largest franchise network with more than 25 years experience helping entrepreneurs like you find and own their own businesses.

Contact us at 888 701-6413 or lee@myfpts.com
In the meantime, you can return to my website to continue browsing.

Best Regards,
Lee Thomas
Franchise Paths To Success

FRANCHISE VS. TRADITIONAL BUSINESS

I am often asked the question: What are the advantages of buying a franchise rather than starting a business or buying an existing business?

ANSWER: Buying a franchise is easier in many ways than starting a business or buying an existing business. There are many franchises in many industries to choose from. If you buy a business, you are limited to a few choices of successful businesses that are available and match your abilities, skills, experience, and interests.

The franchise is a proven business system that has succeeded in many other locations. They have proven sales and marketing systems that fit their industry. Good franchises know the customer demographics required to produce sufficient sales revenue to make the franchise successful. If the business location is important, the franchiser should be able to provide you assistance in finding the best location. Having a proven business system significantly reduces the risk of failure.

You get support from the franchiser after the purchase. The franchiser has extensive industry experience which they pass on to you. To transfer their expertise to you, franchisers must be expert trainers. Training for the new owners may range from two weeks to eight weeks and include both training at their headquarters and in your market. They provide ongoing support in training, new product development and new technology. Look for franchisers who always are evolving their system. If you start a business, you’re on your own. If you buy an existing business, you may or may not get much support from the previous owner, which should be a part of the purchase agreement.

‘Success’ usually has a higher probability with a franchise. Projecting sales and revenue is more reliable because projections are based on many previous successful new franchises. Franchisers should have good name recognition and a good track record for establishing the brand in new markets like yours. If you start a business, it can be difficult to project sales revenue accurately even when you know the business and the local market. If you buy a business, you may or may not be able to retain the repeat customers and the customer referral sources that typically generate most sales revenue.

Financing the start up cost of a franchise is typically easier than buying an existing business or certainly a start up. Lenders are more willing to lend for a proven successful business system. Since the recession many franchisers are willing to finance part or all of the startup cost which means you pay the startup costs from the franchise’s profits over several years. Also, business owners selling their businesses are now much more inclined to finance a part of the purchase price.
 
The most important factor in acquiring a franchise or business, is the self preparation of the buyer.  If you are a “full blooded” entrepreneur, you may not be satisfied with the discipline, and adherence to proven systems required of a franchisee.  On the other hand if you are not a “full blooded” entrepreneur, a franchise with it proven systems and regimentation may be perfect for you. 

My workshops entitled, “How to go into Business: 8 Keys to Success” (do you know what you don’t know?) covers these topics and more. Self preparation is a key ingredient in future business success.

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I provide no-cost assistance to entrepreneurs nationwide, helping them identify franchise business opportunities that match their interests, backgrounds and financial means. I offer hundreds of business opportunities in a multitude of categories.

I am an affiliate of the world’s largest franchise network with more than 25 years experience helping entrepreneurs like you find and own their own businesses.

Contact us at 888 701-6413 or lee@myfpts.com
In the meantime, you can return to my website to continue browsing.

Best Regards,
Lee Thomas
Franchise Paths To Success

10 Golden Rules for Franchise Business Marketing Success

1. Take Risks. Be willing to put yourself in uncomfortable situations (like speaking and selling) to market your business. Pretty soon you won’t be uncomfortable anymore and you will be having more success.

2. Accept Mistakes. Not everything you try will be effective. Some of the promotions you dream up will fall flat and others will be very effective. You have to test your marketing plan, and accept the mistakes as a guideline for what NOT to do the next year.

3. Don’t Take Criticism Personally. The act of marketing your business invites criticism. Fear of criticism keeps people from marketing more than anything else. Learn to weed out the constructive criticism from the toxic criticism.

4. Separate Yourself from Your Business. Marketing a Franchise is a business function. If you can treat it that way, you will be much more successful building relationships with customers, referring partners, and so on.

5. Think BIG. Think about what you can do for them. Create win-win relationships. Lots of Franchise owners/ speakers pay the large organizations to be able to speak because they realize that getting in front of that market with their product will benefit them for years to come.

6. True Authority Is Achieved through Genuine Knowledge. When you first start marketing your Franchise business—speaking to groups and organizations and meeting professionals that can help you grow your business—it can be tempting to overcompensate and spew everything you know in one interaction. Don’t do it. True authority comes from sharing genuine (experience based) knowledge. Build relationships slowly and they will be strong.

7. Understand That You Will Always Be a Student. Every six-figure professional I meet has this one thing in common and that is that they continue to learn—they invest in their education and they surround themselves with people more successful than themselves.

8. Treat EVERYONE With Respect, Empathy, and Patience. Long-term relationships are built on this rule. If you always treat people this way, your marketing efforts will be so much more effective. Be of service and you will succeed because people will want to do business with you. Think about it—don’t you always want to be around people who make you feel good about yourself? This is true in business, too. Marketing is business. Try to make your interactions good ones.

9. Understand the Dynamics of Change and Why Change Is Desirable. Through change we learn. And if we aren’t changing—guess what—we aren’t growing and learning. Don’t fight this, get used to change and welcome it in. It is an opportunity. I meet people who argue that things must be done a certain way to effectively market. Not true. Be open to many things and don’t be rigid just because you are comfortable with your marketing techniques.

10. “Hold Your Space” by Being Firm and Gracious. I have learned over the years that you must learn to “hold your space” to be successful. Once your Franchise business has grown, you will be approached on a daily basis by people wanting something from you. Try to create a win-win relationship whenever possible if you can see the true benefit in the relationship. Say no when you need to, and don’t waiver and always be gracious that the person brought the opportunity your way to consider.

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I provide no-cost assistance to entrepreneurs nationwide, helping them identify franchise business opportunities that match their interests, backgrounds and financial means. I offer hundreds of business opportunities in a multitude of categories.

I am an affiliate of the world’s largest franchise network with more than 25 years experience helping entrepreneurs like you find and own their own businesses.

Contact us at 888 701-6413 or lee@myfpts.com
In the meantime, you can return to my website to continue browsing.

Best Regards,
Lee Thomas
Franchise Paths To Success

12 Stress Busting Tips For Franchise Business Owners

Owning and running a Franchise business can be stressful – after all, the buck stops with you. If you’ve come from the corporate world of regular paychecks and support systems to help you get your job done, the challenges of entrepreneurship can be doubly stressful.

When ignored over time, stress can take a serious toll on your physical health, your ability to concentrate and your relationships, and it can ultimately lead to burnout. If you’re to be successful in the long run, you must take care of yourself and learn to handle stress in a healthy way.

It can be helpful to discover what triggers stress for you, then take a look inside and find out where each stressor came from. Ask yourself, “Where and when did this start?” Identifying and being aware of what causes our stress is sometimes all we need to stop continually falling into the same traps. Unrealistic scheduling of tasks – setting impractical time frames for the completion of projects – usually results in stress. Over-commitment is another stressor that easily creeps in, especially for new entrepreneurs desiring to please everyone.

12 Simple Stress-Busting Tips:

  1. Spend time reflecting on your life – look at the big picture. (When stressed, we tend to develop tunnel vision.)
  2. Exercise regularly – it relieves tension. Asking a friend to exercise with you will provide accountability and make it more fun.
  3. Talk difficult issues over with a trusted friend, your Franchisor or other trusted advisors.
  4. Journal – write down all your concerns and how you feel about them, then throw the paper away and let it go.
  5. Take time out to meditate, pray or go for a walk and observe nature – the trees and flowers, listen to the birds, watch the ever-changing cloud formations. Spend time with people, get to know them and develop deeper relationships.
  6. Get adequate sleep and rest at night.
  7. Plan time for fun – laughter is good medicine. Taking time out to relax and play shouldn’t be considered a luxury.
  8. If you face a stressful situation that is beyond your control, put it in perspective by asking yourself how it will feel and what impact it will have on you five years, or even six months, from now.
  9. Focus on what is positive and see the glass as half full. Turn your attention to things that have gone well and praise yourself.
  10. View stressful situations, large and small, as opportunities to learn. Stop, step back and think about ways you could benefit from them. Velcro® and Post-It® Notes were invented as solutions to frustrating problems.
  11. Take five-minute vacations. Stop work for five minutes, relax, breathe deeply and think about something fun and pleasant. This can refresh your mind and you’ll return to the project with new clarity.
  12. When you’ve completed a stressful task, reward yourself with something you enjoy.

Stress is generally a reaction to events, and we may have a choice of how we respond. List the things that cause you stress and ask yourself if eliminating, or at least minimizing, each of these stressors is even within your control. If it is, then brainstorm and write down possible solutions, making note of how you’ll handle them differently in the future. If the stressor is beyond your control – you just can’t do anything about it – remind yourself that getting upset over it is a waste of your energy and let it go. Take action that will lead to peace of mind.

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I provide no-cost assistance to entrepreneurs nationwide, helping them identify franchise business opportunities that match their interests, backgrounds and financial means. I offer hundreds of business opportunities in a multitude of categories.

I am an affiliate of the world’s largest franchise network with more than 25 years experience helping entrepreneurs like you find and own their own businesses.

Contact us at 888 701-6413 or lee@myfpts.com
In the meantime, you can return to my website to continue browsing.

Best Regards,
Lee Thomas
Franchise Paths To Success

A NEW FRANCHISE BUSINESS: How To Get Started

When “getting started” in a new franchise business, be it a start up or the acquisition of an ongoing enterprise, there are several important considerations to keep in mind.

The first is to be sure you have “the passion”.  That is, the passion for the focus of the business, and the passion for being in business.  Having the passion will ensure that you will be able to persevere during the “tough times”, and there will be “tough times”. 

It is important to create a clear, concise mission statement related to your franchise business.  This carefully, and thoughtfully, crafted document will be invaluable to you as the framework for every important decision you will make in the business.  It will serve as your compass throughout the life of the business.

Based on your desired outcomes for the business franchise, compose a “destination” statement, a statement that defines the picture in your mind of the business when it is mature.  As with building anything important, i.e. a house, ship, bridge, etc., it is important to have the end product in mind when you start.  In other words, start with the end in mind. Remember, a good business plan can go bad, but a bad business plan never goes good. Just because it is written down, doesn’t mean it will work.

Be unique, develop your own brand within the franchise framework.  Determine what will set you and your franchise business apart in the marketplace.  You want your customers and potential customers to be able to immediately identify you and what you do by your unique brand and approach to business.

Research and define your target market(s).  Know who, what, and where your customers, clients are. This is important so that you can maximize the value from your marketing dollars. Use your franchisor resources. 

Based on your brand and target market(s), determine where you want to be (positioned) in your market place.  If you can determine the niche(s) you want to target, you are well on the way to success.

Write down and prioritize your major objectives with timelines.  It is not enough to just write down your objectives, they must have timelines associated with them.  This will serve to keep you motivated to moving forward, and it provides milestones as to your progress. Be aware, that often it takes twice as long to make half of what you expected/predicted.

Develop and implement a creative marketing plan.  Remember that marketing encompasses all forms of advertising, sales, and feedback (tracking).

Supplement your marketing plan with tools that set you apart in the market place.  Be unique.  Unless you have an unlimited marketing budget, it is important to be creative, and unique in your marketing efforts.  This takes much thought, and brainstorming, but pays great dividends when executed successfully. 

Use your talent, gifts, and abilities to serve others.  When we are dedicated to the true service of others, it is ironic how we become happy AND successful.

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I provide no-cost assistance to entrepreneurs nationwide, helping them identify franchise business opportunities that match their interests, backgrounds and financial means. I offer hundreds of business opportunities in a multitude of categories.

I am an affiliate of the world’s largest franchise network with more than 25 years experience helping entrepreneurs like you find and own their own businesses.

Contact us at 888 701-6413 or lee@myfpts.com
In the meantime, you can return to my website to continue browsing.

Best Regards,
Lee Thomas
Franchise Paths To Success