Franchise Secrets Podcast

Summer Series – Jane Lombard

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Jane Lombard
Franchisee; Franchise Broker

ABOUT JANE LOMBARD

Jane Lombard offers many years of experience from all aspects of the franchise industry. Over the last 16 years, Jane has owned and operated 4 franchised businesses and currently runs two.

Jane’s current franchised businesses are Fifo Capital – which provides cash flow solutions to business through invoice finance and The Franchise Shop a franchise consultancy that works to develop businesses into franchises and assist in franchise recruitment.

As a Fifo Capital franchisee, Jane provides finance to franchisees looking to buy a franchise and a wide range of both start up and established businesses that are going through a period of growth and need support with their cash flow to allow the to take the leap to next level of success.

As a franchisee of The Franchise Shop Jane works with a large range of emerging franchisors across a broad range of franchise models and systems. Working with her clients to develop their businesses into successful franchise models and assisting them in recruiting franchisees.

Jane is a NSW FCA Committee member and also one of only 10 Certified Franchise Executives in Australia, an internationally recognized qualification in the franchise industry.

During my conversation with Jane she shared:

  • Buy the business for what you want out of it
  • Buying the right franchise for you
  • Doing your due diligence – what questions do you ask?
  • What skills do you need to run a Franchise
  • Working with your Franchisor
  • What is in a Franchisors system – they do not always provide everything
  • What a Greenfield site is
  • What it takes to be a high performing Franchisee
  • How to put together a great team that works for you and with you
  • The franchising Code of Conduct
  • Preparing your Business Plan and identifying your Key Performance Indicators
  • How long it takes to buy/sell a franchise
  • How to find true franchise lawyers and accountants
  • When is the best time to Exit your system

    • Jane’s “One Thing” that she does every day…..

    • Be grateful – Knowing everything I am working towards is where I want to be – Love what you are doing

      • Jane’s secrets are

      • Her “Me” time – being home for the kids when they come home from school
      • Getting the right employee – Do not employ yourself – employ for the skills you don’t have
      • Keeping on top of Cashflow – Use FIFO Capital

        • Jane’s tip for new Franchisees….

        • Don’t underestimate the importance of business skills
        • Read Greg Nathans book – The Franchise E-Factor

          • Jane’s – Quotes

          “Write a list of what your skill sets are and where your weaknesses are so that you know what you have to outsource” – Jane Lombard

           

          “Buy something that rocks your boat so that you are very excited to get up every morning” – Jane Lombard

           

          “Enter a Franchise system with your eyes wide open” – Jane Lombard

           

          “Understand what it is that the Franchisor provides” – Jane Lombard

           

          “Get to know the high achievers in your system – they will only be to happy to share with you what it takes to be successful” – Jane Lombard

           

          “Get experts who have real franchise experience” – Jane Lombard

           

          Selected Links For This Episode

          For your FREE E-course click on the link  http://www.franchiseesuccess.com.au/wish

          http://fifocapital.com.au/

          http://thefranchiseshop.com.au/

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