Announcement - New Advanced Training | Franchise Acceleratorâ„¢. CLICK HERE to Register.

FIND OUT IF YOU HAVE A VIABLE 10 MILLION DOLLAR FRANCHISE BUSINESS

DOWNLOAD FREE PDF

When Is The Right Time To Franchise Your Business?

franchising Dec 02, 2016

This is a hot question I often get asked.... and I first start with my own questions in reply

So why franchise? What is your driver to travel this journey?

I ask these questions first because it matters. Look at the following replies and see if any of them is you:

  • I love creating and it's time to expand.
  • I want more money.
  • I want to share my passion with more customers.
  • I want to build a legacy that keeps going long after I'm gone.
  • For the challenge.
  • To create more time and financial freedom.
  • To feel more secure from competitors.
  • It feels natural as the next step to take.
  • I want to make a bigger positive difference to people.
  • My existing business isn't really working so by franchising I can keep making money. (Yuck yuck yuck I stay away from these people)

Franchising can certainly deliver on all these reasons.

So when is it the right time to franchise your business?

  • Maybe you are struggling to keep up with demand for your products or services.
  • Customers keep telling you...
Continue Reading...

Benchmarking

The Power Of Benchmarking

Business data is very important, and reviewing this data is crucial to business success.

An example of this happened to me this week. A client had lower than expected sales for last month. Why? He had no idea. 

For me, this is no good, we need to know why. Is it a trend? To solve this I suggested he looks at the following data.

Benchmark Period.

  • Last 12 months compared to the same period a year earlier.
  • Last 6 months compared to the same period a year earlier.
  • Last 3 months compared to the same period a year earlier.
  • Last month compared to the same period a year earlier.

Benchmark Data.

  • Revenue
  • Number of Jobs
  • Average Dollar Sale Value
  • Top 20% Invoices
    • Who were the Customers?
    • Are they still buying?
    • Frequency of ordering for these Customers.

The result was more Orders were being received, so the business was busier, but the Order value was lower. Why? Looking at the top 20% Jobs from the previous periods showed a decline in Orders from the top...

Continue Reading...

Planning A Project

A Simple Planning System To Get Results

This simple system can be used for all types of projects to help get your desired outcome.

Developing internal business systems is also why franchising works so well. It turns a desired outcome into a system, and the people work the system. 

I break project work into five steps:

  1. Determine what the desired outcome is? This is the goal.
  2. Map the steps out in a flowchart that can be followed.
  3. Timeline each step.
  4. Confirm where the project milestones are to use as check points.
  5. Track progress of each step to the timeline.

As the person ultimately accountable for the project to be delivered ontime, you may be involved (or at least approve) the five steps at the beginning. Then use the milestones and timeline to help manage the project.

The exciting thing here is all team memvbers involved have complete transparency and can see where additional support may be required.

As an example... I have recently created a 29 step 10 month plan for a...

Continue Reading...
Close

50% Complete

YOUR FREE GUIDE "FIND OUT IF YOU HAVE A VIABLE 10 MILLION DOLLAR FRANCHISE BUSINESS".