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How To Nurture Your Customers - More than Top of Mind - Marketing

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Many customers need education or training before you can sell them your product or service. And, they need to see themselves using your product or service before you can sell to them. The education or training of your customers......

Are You Being Shopped by Your Competitor? - Marketing

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That is a question we should all be asking. Then we should decide if the answer matters to us or our business. If you are Erbert and Gerbert's Sandwich Shops and a Subway franchisee is going to several of your......

6 Tips for Franchise Owners on Social Network Marketing - Marketing

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While I'm a complete believer in franchise-wide social media systems, you simply may find that you buy into a franchise without something in place. That means it's left to you. So, what are you going to do about it? Well,......

Is this One Phrase Killing your Communication? - Operations

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My mother lived with me in her last years. We enjoyed her sense of humor. Here's part of that - that made me realize how useless the phrase, "Hi How are you?" is. The house phone rang. Esther answered. The......

Hundreds now Franchise who thought they Never Could - News

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Think you're ready to start franchising your business? Not so fast. Franchising is a lucrative business model, and it can be an excellent way to expand your brand. But before you embark on the franchising journey, you need to make......

Do You Recognize these 8 Warnings Signs of Franchise Failure? - Operations

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In the franchise finance world, the most discussed number is the EBITDA--EBBADABADOO as some call it. EBITDA is earnings before interest, taxes, depreciation and amortization. It is really a sub-total to the income statement. It is earnings without any charges......

Who Makes the Best Franchise Operators? - Operations

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Since the late 1970s franchising professionals have debated whether or not franchisees are entrepreneurs. The debate still goes on; some claim franchisees are just employees who buy themselves a job, while others claim franchisees are just entrepreneurs who choose to......

What Fees Should You Disclose to Your Franchise Buyers? - Legal

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As an attorney who represents franchisors, a significant part of my practice is drafting franchise agreements and franchise disclosure documents. Once these documents are completed, I also help franchisors comply with state laws by filing and maintaining their registrations in......

The Pros and Cons of Multi-Unit Franchising - Operations

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Brands are increasingly realizing the value of multi-unit franchising, and the practice is on the on the rise. Economically, the practice makes sense. During the recession, multi-unit franchisees fared much better than single-unit franchisees in part because these multi-unit franchisees......

A Franchise Giant & Legend - Greg Tanner - News

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International Franchise Expo - IFE 2014 just finished up. What a great franchising event in New York with over 400 hundred franchisors looking to recruit new franchisees domestically and internationally. This year's expo had something extra and worthwhile. Tom Portesy,......

Outsourcing Payroll - Operations

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I have been fortunate to meet with over 3,000 businesses over the last ten years - from start-up restaurants with big dreams, to mature chains facing tough decisions. No matter what stage a company is in, payroll is constant; it......

How to Do Site Selection Using Advance Mapping Techniques - Operations

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Have you ever wondered just what goes into figuring out where to locate a restaurant? Certainly there are hungry people everywhere, so why is one site better than another? That question is one that Dave O'Brien, real estate manager at......

Franchise Sellers Need an Earnings Claim? Get the TheStreet.com to Make it for You - Marketing

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Laurie Kulikowski the Retail & Small Business Reporter for Jim Cramer's TheStreet.com wrote this article entitled - "Looking for an Investment? Here Are 9 of the Best Franchises in America" Laurie is an actual financial reporter with financial news writing......

Do You Need to Pay For Attention? - Marketing

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A recent story about small business marketing had an interesting twist. "Phones start ringing at the Farmington Hills, Michigan, salon each time co-owner Miranda Jade Plater posts pictures on photo-sharing app Instagram. Would-be customers call to book appointments or ask......

The Easier Way to Deal with Online Criticism - Operations

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Due to convenience, the opportunity to receive a direct response and the potential to kick up a fuss when not treated as they expect, customers are turning to social media for customer service and other product and service-related support rather......

Why Franchisors are at Risk & What They need to Do About It - Legal

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Restaurant operators who think they are vigilant about the security of their customers' credit cards may want to do some double-checking in the wake of P.F. Chang's China Bistro Inc.'s reported data breach." If there is one issue which causes......

How Many Retail Employees Would Steal From You? - David Daniels - Thoughts on Franchising

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Coca-Cola commissioned a study of retail employees about 10 years ago. One of the key findings: given the opportunity to steal from the retail outlet, 7 of 10 said they would do so. Frightening news for most. For example,......

What Franchises Can Learn From Puma's Stealth Marketing at FIFA World Cup Brasil - Marketing

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Nearly half of the world's population will be watching as the soccer playing field narrows over the next four weeks, until there is only one world champion left. Whether you're watching or not, the 2014 World Cup definitely offers some......

Who Else Wants a Reliable Predictive Performance Tool for Recruiting? - Operations

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Fred; I have been pitched over the past 25 years in franchising all manner of snake oil for "profiling" and many have said that they can measure top performers and we could use the model to recruit high caliber and......

What is the Grocerant Niche? Why does it matter to Franchising? - Operations

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If you are Ready-2-Eat, then there is a very good chance you are looking for Grocerant meal components. Heat-N-eat and Ready-2-Eat fresh prepared food with portability is driving retail food success in 2012. As long as multi-generational family's gather for......

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Recent Comments

Lon -

Too many franchisors rely only on what the POS systems spits out in terms of unit level performance.

A few very good franchisors get their franchise owners to report full P&L information. And the franchisees send in their numbers gladly because the franchisor provides them with valuable KPIs.

A generically sound reminder to keep an eye on your operation. No two companies, or for that matter, no two franchisee operations are exactly alike. What are reliable & consistent sources for franchise owners to get the comparative benchmark information our experts suggest?

Michael: according to WORC*, "...in a separate analysis of data, involving an additional franchise organization, that nearly $20,000 of increased sales could be expected of franchisees for each one-point increase in their overall Profile scores. High and low scorers varied by more than 10 points, so the impact of having a high score in this organization was potentially in the hundreds of thousands of dollars "

Another recent study by WORC found that "there was a $15,675 increase in annual sales for every single-point increase on another dimension."

* Waterloo Organizational Research and Consulting (WORC) Group at the University of Waterloo in Ontario, Canada. The WORC Group has served clients in Canada and the United States for more than 20 years. The supervising faculty for the WORC Group are recognized worldwide as experts in research and statistical methods, leadership, motivation, negotiation, and employee engagement.

AppleCare and Schwab from personal experience do a great job of following Nancy's outline.

However they are in the minority of businesses who handle calls well.

It just seems to me that when it's clear that your company really goofed up, say so and fix the problem.

Franchisors using Fred's tools as part of their overall sales process, can either recruit the high score performers or have the lower scores -who may be financially qualified- try to improve their score.

In both cases, Fred has some data to show that even an improvement of 1 point on his scale, leads to an increase of gross sales of $19k/year.

In addition to being a great franchise recruiting tool, it is a great tool to benchmark your current franchise owners and give them something to shoot for in terms of improving their skills and gross revenue.