Latest Blog Posts
Franchise Development ROI Weekely Stratigies
Submitted by Anonymous on Fri, 03/25/2011 - 15:14Have Prospects Rank Their Own Level of Interest: Incorporate the question "How do you rank your level of interest in our program on a scale of 1 to 10 with a '10' being extremely interested?" into ALL stages of your franchise development process and track how the number increases, decreases, or stays the same. Perfect for gauging prospect interest to help you prioritize your lead development process.
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The Story of the Mexican Fisherman
Submitted by daryll on Mon, 12/20/2010 - 16:15
An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.
The Mexican replied, "only a little while."
The American then asked why didn't he stay out longer and catch more fish?
The Mexican said he had enough to support his family's immediate needs.
The American then asked, "but what do you do with the rest of your time?"
The Mexican fisherman said, "I sleep late, fish a little, play with my children, take siestas with my wife, Maria, stroll into the village each evening where I sip wine, and play guitar with my amigos. I have a full and busy life."
The American scoffed, "I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise."
The Mexican fisherman asked, "But, how long will this all take?"
To which the American replied, "15 - 20 years."
"But what then?" Asked the Mexican.
The American laughed and said, "That's the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!"
"Millions - then what?"
The American said, "Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siestas with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos."
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"Why?"
Submitted by Anonymous on Tue, 04/13/2010 - 13:33Ever consider asking "why" a franchise candidate is considering your franchise program? Not the actual program itself, but "why?" when it comes to "what do they want or value in life" that perhaps your franchise can help them acheive? Requiring them to restate their "Why Statement" at EVERY stage of the Development Process reinforces the candidate's reason for turning to you to help them acheive it!
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Strategic Roundtable Webinar
Submitted by martin on Thu, 01/28/2010 - 23:13Were you in on the fantastic Strategic Roundtable Webinar we hosted with Synergy World earlier today? 55 franchise executives on board for information on the latest Franchisee Customer Loyalty Strategies (low cost and no cost). Brilliant! If you missed it, look for the recorded version to be posted here soon.
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IFX Thank you!
Submitted by martin on Sun, 12/13/2009 - 11:23Just got back from hosting our 3 Day Strategic Franchise Conference. Wow! We had over 100 Franchise Executives contributing over 100 real-world strategies throughout the conference. Great speakers, great networking and a whole lot of fun! Thanks so much to all of you who came and made it happen!
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IFX Party
Submitted by martin on Thu, 11/19/2009 - 23:18
Party Like a Rock Star at IFX's Conference Networking Dinner Party - great food, entertainment, networking and special "Love on the Rocks" shooters! After a day of winning strategies... we're gonna hit downtown San Diego, Dec. 10th!
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Multi-Unit Stimulus
Submitted by martin on Thu, 11/19/2009 - 23:05Multi-Unit Stimulus Program: Capitalize on your best assets... your existing franchisees. Leverage their track record to help them launch into additional units using performance-based royalty reductions and waiver of secondary franchise license fees.
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Incentive Models
Submitted by martin on Thu, 11/19/2009 - 23:02Just 1 of 5 Multi-Unit Incentive Models we'll be covering at our IFX Strategic Franchise Conference, Dec. 10-12, 2009 in San Diego.
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Franchisee Development
Submitted by martin on Thu, 11/19/2009 - 22:05Tie everything to a development AND performance schedule that's realistic and rewards franchisees who hit key milestones. Everyone wins!
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IFX Webinar reminder
Submitted by martin on Wed, 11/18/2009 - 12:48Major IFX Conference PREVIEW Webinar: Thursday, Nov. 19th, 2009 at 11am PT (2pm ET). Email webinar@ifxonline.com for access information.
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