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By Kit VInson
4.5
1515 ratings
The podcast currently has 37 episodes available.
My Podner in this episode is Cheryl Mullin and she’s going to talk with us today about Financial Performance Representation! Man, if that doesn’t make you salivate then you are no franchisor in my books. This can be a very dense topic but I am confident that Ms. Cheryl help us demystify this topic and maybe even help us pull our heads out from underneath the covers every time it is mentioned. But who knows, she may even have us running for the hills even faster.
Time Stamps
Cheryl Mullin Intro
00:00:30
Segment 1
00:02:49
Get to know Cheryl Mullin
Segment 2
00:20:31
Topic Segment – Financial Performance Representation
Segment 3
01:57:46
Quickdraw Questions
Topics covered in this episode:
Cheryl Mullin
Mullin Law PC
[email protected]
www.mullinlawpc.com
972-852-1703
Kit Vinson
FranMan Inc.
www.franman.net
[email protected]
214-736-3939 x 101
My Podner in this episode is Jordis Small and she’s going to talk with us today about branding. Branding is a word that is used in many contexts and sometimes misused and misunderstood. Jordis promises to clear all of that up for us today. This will be a fun ride
Note: Ms. Jordis is recovering from a nasty cold and she lost her voice. The voice is scratchy but the content is GOLDEN.
Time Stamps
Jordis Small Intro
00:00:32
Segment 1
00:02:42
Get to know Jordis Small
Segment 2
00:18:00
Topic Segment – Branding Your Franchise
Segment 3
01:14:12
Quickdraw Questions
Topics Discussed in this Episode
What is your brand?
Most folks think it’s logo, fonts, colors... It’s much more
Why do you need to know your brand better than your spouse?
Are you prepared to articulate your brand to potential franchisees?
How to audit your own brand...
Test your logo to see if it’s good, is everything in alignment with the vision of the company, will people understand it with you telling them?
What makes a GOOD logo?
Is your logo scalable, timeless, and appropriate for growth?
Why do you need a robust brand guide before franchising?
What is worth including, like color usage ect…
How to set up your franchise for success through creating an asset library. Basically pre making various marketing materials for them so they don’t DIY.
Why does this brand work now? Prepare for growth and longevity.
Jordis Small
Stellen Design
www.stellendesign.com
[email protected]
310-418-6287
Kit Vinson
www.franman.net
[email protected]
214-736-3939 x 101
My Podner in this episode is Tom Wells and he’s going to talk with us today about the challenges of scaling a brand over 50 units. It’s a moving target and things change, and he’s going to share some REALLY COOL stuff with us today.
Time Stamps
Tom Wells Intro
00:00:31
Segment 1
00:02:13
Get to know Tom Wells
Segment 2
00:27:05
Topic Segment – Challenges of Scaling to Over 50 Units
Segment 3
01:06:27
Quickdraw Questions
Topics Discussed in this Episode
Key areas franchisors miss in their first year:
Books Mentioned
The Hard Thing About Hard Things
by Ben Horowitz
Unbroken
By Laura Hillenbrand
Tom Wells
www.10pointcapital.com
[email protected]
404-444-3110
Kit Vinson
www.franman.net
[email protected]
214-736-3939 x 101
My Podner in this episode is Michael Peterson and he’s going to talk with us today about the mistakes that new franchisors typically make during their first year of operation. Some of these mistakes can be quite expensive, while others can lead to the death of your entire system. If you are a newly minted franchisor, or if you are about to start your journey, this is one that you won’t want to miss.
Time Stamps
Michael Peterson Intro
00:00:31
Segment 1
00:02:37
Get to know Michael Peterson
Segment 2
00:20:39
Topic Segment – New Franchisor Pitfalls
Segment 3
01:03:05
Quickdraw Questions
Topics Discussed in this Episode
Key areas franchisors miss in their first year:
Pre-launch
Post Launch
Books Mentioned
Think Like a Freak
by Steven D. Levitt, Stephen J. Dubner
The Memory Illusion
By Julia Shaw
Eye of the World
Robert Jordan
Michael Peterson
www.franchisebeacon.com
[email protected]
949-282-7304
Kit Vinson
www.franman.net
[email protected]
214-736-3939 x 101
Time Stamps
Tom Portesy Intro
00:00:27
Segment 1
00:03:41
Get to know Tom Portesy
Segment 2
00:18:22
Topic Segment – The Franchise Expo
Segment 3
01:03:42
Quickdraw Questions
Topics Discussed in this Episode
Tom Portesy
MFV Expositions
[email protected]
https://www.franchiseexpo.com/
Kit Vinson
www.franman.net
[email protected]
214-736-3939 x 101
My Podner in this episode is Jackie Hoegger and she’s going to talk with us today about how to market to prospective franchisees. This conversation spans topics such as website design, digital marketing, even down to how you treat your existing franchisees. This is our first episode on the topic of marketing and we came out of the chute with a GREAT one..
Time Stamps
Jackie Hoegger Intro
00:00:33
Segment 1
00:05:26
Get to know Jackie Hoegger
Segment 2
00:16:50
Topic Segment – Marketing to Prospective Franchisees
Segment 3
01:00:57
Quickdraw Questions
Topics Discussed in this Episode
7, Hire an Agency (00:55:21) - They can develop a 3 pillar strategy to drive conversions to your website which leads the first touch.
Books Mentioned in the Episode
Crush It
By Gary Vanerchuck
Jackie Hoegger
Hoegger Communications
[email protected]
www.teamHoegger.com
940-631-7999
Kit Vinson
www.franman.net
[email protected]
214-736-3939 x 101
My Podner in this episode is me, Kit Vinson (finally!), and I'm going to talk to you about what franchisors should know about their franchise operating manual.
Time Stamps
Kit Vinson Intro
00:00:29
Segment 1
00:02:15
Get to know Kit Vinson
Segment 2
00:13:30
Topic Segment – The Franchise Operating Manual
Segment 3
00:00:00
There are no Quickdraw Questions in this episode
Topics Discussed in this Episode
What’s Included in a franchise operating manual?
Every manual is customized to the industry of the company, but there are elements of a franchise operating manual that are common to all manuals.
What is the process for producing a franchise operating manual?
Make the manual creation process fun so that you can start the flow of your team’s creativity juices.
How often does the typical franchise manual need updating?
Manual updates should be completed on a regular basis. Younger franchise systems will need to update their operating manual more frequently because their systems seem to evolve at a much faster pace than that of a mature franchise system.
If you do not keep your franchise operating manual updated regularly, you increase the probability of you having to explain to a judge why your manual isn’t up-to-date.
How are franchise operating manuals typically distributed to the franchisees?
Hard copy manuals have extreme limitations. They are not secure. They are only a snapshot of your system on that day. Media limitations.
PDF manuals are searchable, but they are not secure. They are also a snapshot of your company’s system on that day. They are relatively easily to update but you run the risk of having multiple versions of your manual floating around your system.
Web based, online operating manuals are secure, they are extremely easy to update, you can track your franchisees activity in the manual, and you can include multimedia content such as videos.
What are the functions of a franchise operations manual?
First, the Franchise Operations Manual is the authority document of the franchise System Standards. The System Standards are the standard procedures that a franchisor requires of all franchisees in order to duplicate the customer experience in every location. The customer experience is the driving force behind profitability. If you can duplicate a favorable customer experience, then you may have a business that you can franchise. If you have a well prepared Franchise Agreement, it will refer to the Franchise Operations Manual as the System Standard. This way, as your system grows and your System Standards change, you only have to update the manual instead of updating the Franchise Agreement.
Second, the Franchise Operations Manual is the most effective tool for protecting your Brand. A company’s Brand is one of its most valuable assets. The Brand is also the asset that is at most risk when a company decides to franchise. When you franchise a concept, you are putting your Brand in the hands of other people, all of whom likely have different ideas about the best direction for the company. A properly prepared Franchise Operations Manual, with well-defined and organized System Standards, will be one of the few tools you have to manage the Brand and control the franchisees when they try to act on their vision for what is best for your Brand.
Third, the Franchise Operations Manual will likely be the principal tool for training new franchisees. It is the “Your Company for Dummies” book. You have to assume that most of your franchisees will not have experience in your industry. They may not have any business experience at all. It is very common for a retired schoolteacher or a retired military person to invest in a franchise. This is not to suggest that schoolteachers or military personnel don’t have any business savvy, it is only to say that they were not formally trained in business and have not practiced it during their career. Your manual needs to be a document that not only trains them on your system of providing a favorable customer experience, but also one that brings them up to speed on how to manage a business.
Fourth, a well prepared documentation of the procedures that has helped make your company a success will help you sell your concept to potential franchisees. Put yourself in the shoes of a potential franchisee. If you received a Franchise Disclosure Document (FDD) that showed you that the company had a 50 page document describing all of its operating procedures, you might be a little concerned.
You will also take your Franchise Operations Manual with you when you meet with potential franchisees for the first time. In that meeting, you will attempt to sell the concept to the prospect. Like all good sales people, you will likely have a few sales tools to assist you. You will probably present a PowerPoint presentation of the concept, you will review the company’s performance in the FDD, and you will present the Franchise Operations Manual as your proof that you have a well documents system for success.
Fifth, you don’t get very many opportunities to convey your corporate culture to your franchisees. Initial training lasts a week or so. Annual conferences last a few days per year. Ultimately, it is the franchise operating manual that will have the most contact with your franchisees, so what better place to show them who you are.
Kit Vinson
www.franman.net
[email protected]
214-736-3939 x 101
My Podner in this episode is Brendan Charles and he’s going to talk with us today about what franchisors should be teaching their franchisees about site selection, real estate negotiations, and build-out. Bad decisions in these areas can be detrimental to the success of the location. Everybody has some skin in the game here. This discussion will benefit both new and seasoned franchisors.
Time Stamps
Brendan Charles Intro
00:00:28
Segment 1
00:02:44
Get to know Brendan
Segment 2
00:15:38
Topic Segment – Site Selection, Real Estate, and Buildout
Segment 3
01:25:10
Quickdraw Questions
Topics Discussed in this Episode
Brendan Charles
Red C Business Advocacy
www.redcadvocacy.com
[email protected]
Phone - 303-333-3420
Kit Vinson
www.franman.net
[email protected]
214-736-3939 x 101
My Podner duo in this episode is Andy Erskine and Bob Gappa of Management 2000, and they’re going to talk with us today about the importance of customer loyalty, what drives it, and how to manage it. This discussion will benefit both new and seasoned franchisors.
Today’s episode will be unique. This will be the first time to have a returning podner with the GREAT, Mr. Bob Gappa. You may remember Bob Gappa from Episode #2 where we discussed the nature of the relationship between franchisor and franchisee.
Andy has been Bob’s Protégé for 8 years now as he’s been learning franchising from the master and taking Bob’s accumulated knowledge and adding his own flavor to it.
Time Stamps
Andy Erskine Intro
00:00:29
Segment 1
00:02:36
Get to know Andy
Segment 2
00:11:20
Topic Segment – Creating Customer Loyalty
Segment 3
01:05:10
Quickdraw Questions
Topics Discussed in this Episode
What is customer loyalty?
What makes customers loyal?
How do you measure customer loyalty?
What do you do with customer loyalty data after you get it?
What should I be doing today as it relates to customer loyalty?
Andy Erskine
Management 2000
www.mgmt2000.com
[email protected]
Phone - 800-847-5763
Kit Vinson
www.franman.net
[email protected]
214-736-3939 x 101
Books Mentioned in the Episode:
Love Marks
By Kevin Roberts
The Effective Executive
By Peter Drucker
Emotionomics
By Dan Hill
Retail is Theater
My Podner in this episode is Red Boswell and he’s going to talk with us today about how to generate franchisee leads. This is one of the hottest topics with franchisors. This discussion will benefit both new and seasoned franchisors.
Red is a unique character, and I mean that in a good way. This guy has been driven to make money ever since he was a kid. Starting in grade school when he was selling NFL pencils for a profit, into hos twenties when he build up a pet services franchise system all the way up to 148 units. He’s been operating in the world of franchising practically his entire adult life. He’ll give us more details in just a few minutes.
Red now gets to fuel his business building passion as President of the International Franchise Professionals Group (IFPG), The World’s Largest and Most Respected Franchise Consultant Organization. .
Time Stamps
Red Boswell Intro
00:00:28
Segment 1
00:02:05
Get to know Red Boswell
Segment 2
00:29:45
Topic Segment – Franchisee Lead Generation
Segment 3
01:01:50
Quickdraw Questions
Topics Discussed in this Episode
The cost of a lead
16 sources of leads
The marketing mix is a moving target and is different for every concept. There is no silver bullet, one size fits all solution for the marketing spend mix.
Do a lot – do it for a long time – test and measure
Every option will involve one or all of these three
The trick is to utilize the options that require the resources you have the most of.
Red’s Favorite Five
Red says that every solution must be customized to the individual concept, but if he HAD to pick his favorite five, the would be:
Brokers
PR
Industry Conversions
Live Events / Expos
Online
Bonus Source: Guerilla Marketing
Common mistakes made by franchisors as it relates to lead sources:
Books Mentioned
Red Boswell International Franchise Professional Group www.ifpg.org [email protected] 888-977-4374 x 112
Kit Vinson www.franman.net [email protected] 214-736-3939 x 101
The podcast currently has 37 episodes available.