Choosing A Franchise

Choosing a successful franchise

It’s exciting times ahead. You have decided to go into business for yourself, and not by yourself. You believe that investing in your own franchise is the best option for you and it’s more than likely been a long and hard decision, eliminating a few industries or franchise types along the way that you know just aren’t a good fit.

Now you have short listed some industry sectors down to those that interest you, a good place to start looking for available franchises is your major city newspaper, or industry specific franchise magazines and websites. Here you will be able to either call the company or email them if online and request an information pack. Some information packs provide in depth information whilst others provide a general overview of the franchise opportunity which can then be further explored, should the potential franchisee be interested in taking his or her enquiry to the next level.

What do you do now? Which one is going to be the right one for you? Is there a market for the franchise you are looking at? Can you afford it, and can you make enough money to make it worthwhile?

Buying a franchise does not guarantee your success so it’s vital you do as much as you can to research what could lie ahead. The more due diligence you do, the better chance you have to finding the “right” franchise model for you and the better chance you have for success.

Investigating Your Options

Regardless of whether you choose to buy a new franchise or buy an existing franchise, research is the single most important activity in making your decision. Without adequate information, you could be making a very costly decision, effecting the rest of your life. Below is an outline of the advantages and disadvantages of buying a new franchise or buying an existing franchise which might assist you in your search and decision. Either way buying a franchise has some definite advantages and disadvantages and these should be evaluated before deciding to purchase one.

Buying A New Franchise


Buying An Existing Franchise


Overall Advantages of Buying a Franchise

Consumers today are becoming more brand loyal which means your chances of being success in business could simply rest on the fact you belong to a strong brand in the marketplace

Owning a franchise allows you to go into business for yourself, but not by yourself.

A franchise provides franchisees with a certain level of independence where they can operate their business.

A franchise provides an established product or service which already enjoys widespread brand name recognition. This gives the franchisee the benefits of customer awareness which would normally take years to establish.

A franchise increases your chances of business success because you are associating with proven products and methods.

Franchises may offer consumers the attraction of a certain level of quality and consistency because it is mandated by the franchise agreement

Franchises offer important pre-opening support:

  • site selection
  • design and construction
  • financing (in some cases)
  • training
  • grand-opening program

Franchises offer ongoing support

  • training
  • national and regional advertising
  • operating procedures and operational assistance
  • ongoing supervision and management support
  • increased spending power and access to bulk purchasing (in some cases)

There are of course some disadvantages to buying a franchise and the most important one to look out for is if other franchisees are performing poorly or the franchisor runs into unforeseen problems then it can damage the overall system and image of the company.

Let’s have a closer look at some of the important areas you should consider when choosing a franchise.

Your Passion!  Where Do Your Interests Lie?

With over 900 franchise systems within Australia alone, it is important that you gather as much information as you can about the types of franchising opportunities that are available and what they have to offer you and to the market or end user (the customer). Have a clear idea of where your interests lie and what areas you are passionate about, as this will help you eliminate some franchises in industries that just don’t interest you. You should start a business in an industry that you will enjoy for the next 10 to 15 years.

Making the correct choice of industry is the foundation for success.

Ask yourself:

  •  What do you like to do? (interest and hobbies)
  •  What do you know how to do? (experience)
  •  What do you do well? (special skills and talents)
  •  Which industry(s) involve your interests and use your skills and talents?
  •  What products or services could you sell in this industry(s)?
  •  Would you rather sell a product or service?
  •  What products or services would you like to sell the most?

Determine If There Is a Market

Before purchasing your franchise, determine if there is a market for the franchises product or service.

  • How many potential customers are in your area?
  • Will your product or service sell?
  • What need does it satisfy?
  • What problem does it solve?
  • What trend or fad does it address?
  • What should the appropriate pricing be?
  • Who are your competitors?
  • How many competitors do you have?
  • What do they offer?
  • How will your product or service be unique?
  • What marketing niche can you capture?

A Fully Informed Decision Is a Good Decision

Like starting any business, buying a franchise involves a risk. Studies show that successful franchisees:

  • conduct their own marketing research
  • use their own financial and legal advisors
  • develop thorough marketing and business plans
  • have prior work experience

As a prospective franchisees the more time you devote to researching the franchises available and evaluating the strength of the franchisors, the happier you will be in your decision.In order for you to make any decision about entering into a relationship with a franchisor and becoming one of their franchisees in the network, it’s important you are in a position where you can make a fully informed decision about whether it’s right for you, or not.  Reading an information pack just isn’t enough. Think about areas such as the company’s vision, philosophy and values. Are they in alignment with your values, and are you comfortable with what their products and services offer the marketplace?

It amazes me that many people make a spur of the moment decision about their future and their next 10 or so years. A franchisor does not need a license to become a franchisor, so how do you know if your investment is safe?

A great place to start is to investigate the franchisor’s history:

  • How long has the franchisor been in business?
  • How many current franchisees are there in the network?
  • What is the failure rate of the franchisees?
  • Are there any pending or past lawsuits and what have they been for?
  • Does the franchisor have a reputation for quality products or services?
  • What is the franchisor’s financial health?
  • What are the earnings claims and profit projections? On what are they based? Are the projections based on franchisor or franchisee-operated units?
  • How long have the franchisee operated units been used for projections been in business?
  • What is the background of the principals/management? What is their business experience? Have they personally had any bankruptcies? Have they personally had any recent litigation?


Transparency is another important ingredient to the decision making – due diligence process. The more open the franchisor is, the more you can find out whether it’s the right fit for you.

  • Is the franchisor open when communicating the business model to you?
  • Do they offer you the opportunity to speak with other franchisees?
  • Are you able to meet the franchise support team?
  • Do you have the ability to review the operations manual and possibly sit in on a training class?
  • Have you the opportunity to work in an existing franchise for a couple of weeks and really get to know the
    • System
    • Manuals
    • Training program
    • Support
    • Earnings potential

Speaking with current and past franchisees is important as it allows you to get a general idea of their experience in the business and what it’s like working within the franchise network. Hearing a franchisees’ prospective (make sure you speak to a few and not just one), is a fundamental part of your due diligence and you get an idea of what to expect and what the culture is like and what the franchisor is like from a Franchisees’ prospective.

Speaking with franchisees that have left the system and finding out why they left gives you more insight into the franchise. Be sure you contact more than one so you can average out the responses. Not everyone’s going to be right for the franchise and a few will leave the system either because they were asked to or because they failed to do their proper due diligence initially and realised it just wasn’t for them. So ensure you speak to more than one past franchisee.

When speaking with or visiting existing franchisees, try to cover areas like:

  • The level of training
  • The quality of products or service
  • The level and promptness of support
  • The operations and quality of the operations manuals
  • The earnings potential/claims
  • Any problems or difficulties with the franchisor
  • Franchisor-franchisee relationship
  • Level of franchisee commitment

Franchisor-Franchisee relationship

How does the franchisor treat the franchisees in the network? This is an important area to ask questions about. Ask current and past franchisees as well as the franchisor. The ideal situation is if the franchisor treats it’s franchisees with the respect, as fellow business people who are in business to achieve profitability and mutual success. You will find yourself in a much safer and more successful environment and network if this is the case. Franchisees who are who are respected as fellow business partners are more likely to respond to the franchisor like switched on business people motivated and ready to seize opportunities and deliver products and services to their local area as best as they can. They are proud to get out into the local market representing the brand they belong to.


Is the franchisee committed to the franchise? A franchise offers strength in the market place in the brand as well as in the numbers of the network. How committed is the franchisor to ongoing support and training? You can find this out just by asking a few current franchisees. Is the support and training broad which means it not only offers business operation training and support they provide much broader support and training which covers all key areas of business along with offering management resources, support and advice.

Franchise Agreement and Disclosure Document

Carefully study and obtain professional advice concerning the franchisor’s Disclosure Document and Franchise Agreement paying special attention to:

  •  Costs including franchise fee and fit out fee
  •  Term (duration of) agreement and renewal provisions and conditions
  •  Termination clauses
  •  Franchise territory
  •  Procedures and restrictions
  •  Training and assistance
  •  Earnings potential – gross sales, net profit
  •  Expansion plans
  •  How fast do they plan to grow?
  •  Where do they plan to grow?
  •  Do they have a business plan for your area of location?
  •  What is their analysis of the competition in your area?
  •  How many units are being planned for your area? Why that many?
  •  How much is going to be spent in regional advertising in your area?

Let’s expand on a couple of these key points.

Franchise Fees

One of the most common questions is how much does it cost, and what are the other fees I have to pay? Every Franchise system is different. You will more than likely find a general overview of the fee in the information pack and you can find out the full list of fees payable, both upfront and ongoing, in the Disclosure Document. The fee will vary depending on the maturity of the business and the complexity of the system.

Upfront Fees: Before you start your new franchise, there will be an upfront fee payable to the franchisor. This is the fee to enter the system and gain the right to use the intellectual property including the system and brand name. Most will also require a training fee to be paid which will cover the initial training provided to you so you have the knowledge and the skills to operate your business from day one. Some franchisors will also ask for an upfront marketing or initial promotion fee which is used to promote your franchise in the local area during the initial launch period.

Royalties / Ongoing Fees:

Royalty is the most common word used for the ongoing fees that are payable to the franchisor. This fee usually covers business, management, technical and marketing support. These fees vary from franchisor to franchisor. Some base their fees on turnover whilst others set a fixed amount. Some franchisors do not charge an ongoing support fee at all; instead they earn their income from the sale of their products to franchisees, which the franchisee then sells to their customers. Usually these products are exclusive to the franchise system and can only be purchased direct from the franchisor.

Marketing Fees:

Marketing fees are collected by the franchisor to go into a marketing fund or marketing pool. This allows the franchisor to market the brand for the benefit of all. This generally is a fixed fee or a percentage of turnover. Not all franchisors require you to pay into a marketing fund. Please check the franchisors Disclosure document for this. Be aware that you will still be required to pay for your own Local Area Marketing for your franchise.

Fit Out Costs:

The fit out fee is commonly included in the total investment set by the franchisor. This is known as a “turnkey” solution where by the franchisee can sign the agreement, attend the training and then commence in their premises with everything ready at their fingertips to operate the business. Where the fit out costs are not included as a total investment the franchisor will give the franchisee an estimate to fit out the site. Every site will be different so these costs will vary from site to site. Fit out is done in the most cost effective manner and in alignment to the design and layout standards.


The initial training provided to new franchisees is a vital ingredient to the success of the franchisee. For many new franchisees, this is the first time they have been in business for themselves so it’s important to ask what’s included in the initial training. From my experience training that includes the operations of the business, use of the system as well as other management and marketing processes sets a more solid foundation for success. Assisting franchisees in areas such as marketing, bookkeeping, staff recruitment and training, quarterly planning and so on will increase the chances of overall confidence in the business which will ultimately lead to a higher chance of success.  The more proactive franchisors provide the services of a franchise coach to assist the franchisee in all key areas of business.


Ongoing fees are charged in return for a certain level of support provided to the franchisee. It is always a good idea to ask what level of support is provided and what is included in this support. Does the support cover all key areas of business or just the franchise system?

Obtaining independent legal, accounting and business advice before signing any binding documents is absolutely essential!

In Summary:

Before buying any business, you must carefully consider many factors that are critical to your success:

  • costs
  • training and support
  • your abilities
  • franchisor’s experience
  • demand and competition
  • expansion plans

Brand Name:

How well known is the franchise name?

Does it have a reputation for quality?

Have any consumers filed complaints against the franchise? If so why?


How much money will this franchise cost before it becomes profitable?

Can I afford to buy this franchise?

Can I make enough money to make the investment worth my time and energy?

Training and Support:

What kind and how much training and support does the franchisor provide?

Do existing franchisees find this level of training and support adequate?

Your Abilities:

Do you have the technical skills or experience to manage the franchise?

Do you have the business skills to manage the franchise?

Is the franchise of interest to you?

Franchisor’s Experience:

Has the franchisor been in business long enough to have established the type of business strength you are seeking?


Is there enough demand in your area for the franchisor’s products or services?

Is the demand year-long or seasonal?

Will the demand grow in the future?

Does the product or service generate repeat business?


How much competition do you have, including other franchisees?

Are the competing companies/franchises well established?

Do they offer the same products and services at the same or lower prices?

Is there a specialty or niche you can capture?

Expansion Plans:

Is the franchisor planning to grow at a rate that is sustainable? Part of your due diligence when considering which franchise network to invest into should include looking at the individual success of the franchisees. Have a look at what individual franchisees are achieving. Has the franchise met all their expectations and if not where has it fallen short.  Do you have the ability to own multiple sites within the franchise network?

Obtaining independent legal, accounting and business advice before signing any binding documents is absolutely essential!

If you are making the decision to get into franchising, your success will be determined by the level of due diligence to do, the level of understanding you have gained of the franchise business and the level of commitment you are willing to give to your success. Your future success and prosperity will also largely depend on how well the relationship between the franchisor and franchisee is managed.

Navigating the Rapids of Business

Navigating the rapids of business

Have you ever been white water rafting? in 1994, my late husband and i decided to be adventurous and give white water rafting a go.

We were on a short holiday. After all, we couldn’t take too much time off as we were  in business for ourselves and there were only  so many days we believed we could be away from the business before things would surely go wrong. This was our little getaway so whilst in the midst of relaxation and “away time” we decided to experience the thrill and excitement of white water rafting.

Now as beginners, our job was to sit in the raft, hold on tight, use the oars when we were instructed to, scream a little, feel terrified and experience a sense of thrill at the same time. Whilst we navigated our way around the rocks, through the rapids, we had one ultimate objective: stay in the raft until we made it to the calmer waters below.

At one point our raft did tip and after those few panicking moments we all eventually managed to get back into the raft, coughing and splattering as we climbed back in. It was terrifying, yet we found ourselves laughing with adrenalin rushing throughout our bodies as we got back in the raft secretly wanting to do it all over again.

As a team we had to work together, aligning our actions and our focus directing the raft and maneuvering it through to the calmer waters below. Every action required quick thinking, clear strategy and zero procrastination. Yes, at times we were uncertain, not knowing what would come next and whether the next move would take us further out of our comfort zone.

At other times we were on top of the world and Masters of white water rafting. Once in calm waters, we wanted to do it again and take our experience to the next level. “Okay, who’s ready for the next level?” the instructor would ask. There was no turning back once we had made the decision to go for it and give the next level a go. We were fearful of what the unknown adventure would be like, but moving to the next level requires a certain type of attitude – ‘Feel the Fear and Do It Anyway!’

Operating a business is a bit like white water rafting. At times it’s scary, hectic, and sometimes unbelievably out of control.

It takes you out of your comfort zone and pushes you into very unknown waters. At other times, it’s exciting, challenging and ultimately rewarding.

The key to navigating your way through business successfully is the same as navigating your raft through the rapids.

Once you know how and what to do, it’s important to be sure you implement that knowledge so that you arrive at calmer waters with confidence and without too many knocks, bumps, cuts and bruises. It’s about making the right moves at the right time and in the right order, so that when you are ready to move to the next level you can do so with confidence.

One of the keys to success in business is how you handle each stage of the journey. In our case, with white water rafting, each stage represented the starting point, the rocky road of the rapids, the free falling down the dips, and the calm waters below. Success was achieved as a result of many things aligning together, the quick maneuvering, the quick decisions and action-taking before arriving at your destination. The destination is not the end of course; it is just the beginning, as you take your experience to new and higher levels. Business is the same. Once you reach a certain goal, milestone, or outcome, it’s not the end; it’s just the beginning of something bigger, better and more exciting.

Doing the right things in the right order is crucial to success. Being sure you take consistent action every day and with a big focus on income generating activities and not just any activity is a key component to building the business of your dreams.

I believe one of the key elements to achieving success is having an open mind and being committed to doing whatever it takes to learn new skills and knowledge, and following through by implementing that new found knowledge and skill set.

What is your motivation? What is your motive for action?

Growth starts to happen when you extend yourself beyond your comfort zone and beyond the edge. You must lean just over the edge every day to achieve exactly what it is you want. Extend yourself. Have the courage to push yourself beyond your own fears, embracing them so that you can make your life and your business phenomenal.

Make a commitment to develop yourself and learn whatever is necessary to be the best. Strengthen every weakness until they become your greatest strength.

Stop Blaming and complaining and Just Get on With it!

Have you ever been in a position where it was easier to blame outside circumstances or someone else for your shortfalls? It is unfortunate that for most of us it is quite a natural habit to blame outside circumstances and events for our lack of results. Because of our past programming and conditioning, many are living a very average way of life because they have chosen to accept that this is just the way life is. If you are someone who is convinced that your circumstances are because of the actions of others or outside circumstances, may I encourage you to open your mind and be prepared to make a decision today to change that level of thinking or to change your current circumstances.

Think about it. How would your life or business change if you knew you were the only one responsible for your success? Not your franchisor, not anyone else, just you.

There would be a lot more doing and a lot less complaining and blaming, wouldn’t there? There would also be a lot more people living the life they truly deserve.

Learn to replace complaining with being proactive and taking action. If you find yourself in a situation that you don’t like, either make it work or simply leave. The worst thing you can do is stay and then complain later about it. Stop missing the pieces of the puzzle! They’re right in front of you.

You are the only one responsible for your success! If you don’t have all of the pieces yet to build whatever it is you want, then it’s your responsibility to acquire them. The world doesn’t owe you anything. You have to create what you want.

Knowing you are responsible for your success and doing what it takes to be a success are two different things. In the past I always knew what I had to be doing to achieve higher levels of success, though

I found myself not always doing those things consistently enough to produce the consistent results I wanted. My results would either be fantastic or just plain average. I started to see a clear pattern forming and it was a pattern I didn’t like. I set out on a path to really make a change in what I was thinking and doing so that my business and my life could progress forward and produce the consistent results I wanted every day. This was the time I truly took ownership of building a new foundation, taking a new direction and committing to taking consistent action towards the success I desired.

What can you do right now to take true ownership of the direction and success of your business? Taking your business to the next level need not be complicated nor does it require excessively long hours or extremely hard work. What it does take is a commitment to your success, a commitment to taking consistent daily action, and doing the right things in the right order.

Growing and Developing your Franchise

Growing a business can be challenging at times and also extremely rewarding, but what can you do as a business owner to help create momentum week by week, month by month and build the business of your dreams?

Whether you are just starting out or you have been going at it for a while, my intent for our time together in this post is to share with you some simple business growth tips that when implemented into your business will help you start to produce some solid results.

Grab a tea or coffee, a notepad and pen and read on. It’s no use reading this article and not doing anything about it, so as you read through the points outlined, I encourage you to think about how it relates to your business and what you can do to get going, moving and taking action so that you can in fact grow and develop your franchise into a top  performing business.

Success starts with planting the Seed and doing the right things in the right order

I would like to share a little story with you. Imagine your business as a freshly planted seed of a tomato plant. You have taken care to plant this seed in fresh, nutrient dense soil, in a place where it gets the right amount of sun and shade.

You’ve got down on your hands and knees and with your finger have poked a hole in the fresh soil where you gently placed the seed. You then covered the seed with more fresh soil and gave it the right amount of water to allow it to grow.

Why did you plant the Seed?

This is the same for your business. Why did you get into your business in the first place? What’s your ultimate vision?

Without knowing your why, it’s almost impossible to produce the consistent and long term results you first set out to achieve. It will also make it near impossible to stay inspired and motivated day in and day out if you don’t know what you are doing and why you are doing it.

Let’s continue with the story….

As you get up from planting the seed you vividly imagine all the delicious tasting tomatoes this plant is going to produce for you and your family as it grows over the following months.  As each day follows you check on your seed to see if it has peeked out of the ground. You can barely contain your excitement because you know how gratifying it will be to successfully grow something of your own.

You check the soil to see if it’s moist enough, you give it water when it gets too dry. A week goes by and still nothing peeks out of the ground.  You ask yourself, “Did I give it too much water? Did I give it enough? Did I plant it in the right place? Maybe it’s just the weather?” You go into the house and look on the internet to see how long it takes for a tomato seed to sprout once it’s planted. You find that it takes about two to three weeks for a leaf to show. You now feel a sense of relief knowing that you are probably on track.

You continue reading and you discover that the average plant will not produce fruit for about two full months. You remember reading about this earlier and now you are very content to have fruit in two months.

You can almost taste and feel exactly what it’s going to be like biting into that perfectly ripened tomato and then you read one last fact that no one ever told you before. The tomato expert writes,

“Some plants won’t produce fruit the very first year depending on the seed. Sometimes you have to care for the seed until it grows then wait till the plant germinates and drops another seed in the ground that will grow the following year.”  You stop and think, “I wish I knew this before I started this whole thing”. You make a mental note to plan better next time before embarking on a farming adventure. As you absorb this information, you feel less excited than you did just one week ago. You hope that all your work will produce fruit this year.

As another week goes by you check on your seed only to find that it’s not a seed anymore, it’s now a tiny little plant with one leaf peeking out of the soil. You feel your excitement return because even if this plant does not produce fruit this year at least you have the satisfaction of knowing you made something real.

You planted a seed and it’s now growing every day.

With your new found excitement that comes from noticing your successes, you begin to ask yourself, “Is there anything that I can do to make this tomato plant grow faster?” Is there anything you can do that will tilt the scale in your favour that would get you fruit this year?

So, you make a wise decision and decide to seek advice from an expert. After a short consultation from the best tomato grower in the business, someone who knows how to get these tomato plants to grow and produce more fruit, you go back home to your tomato plant and follow the instructions to the letter. You tirelessly do everything that’s required and your plant now grows and grows and grows. Two more weeks pass and you are getting so close to when most tomato plants will produce fruit. Will your plant produce fruit this year? You can barely wait, you feel confident because you have done everything right.

The next morning you wake up and to your surprise you notice several tiny tomatoes on your plant. You feel great; you feel immense satisfaction that you will get ripe fruit this season and your efforts will be rewarded.

It’s time to celebrate and like any good tomato grower you also know it’s now time to make even better decisions regarding your plant. Feeling confident and ready you now take all the appropriate action to ensure that you will be biting into a perfectly ripe and fresh tomato in just a few more weeks.

Building and growing your business is just like growing the tomato plant.

It’s important to do the right things in the right order to build higher levels of success. The expert in the story is, in fact, your franchisor and possibly even a business growth consultant like myself.

Support, knowledge and expertise are available to you so ensure you tap into that regularly.

If you just so happen to have a franchisor who isn’t as accessible as you had hoped, then find the support elsewhere. There are so many resources out there to help you grow your business.

It’s up to you to go and make it happen.

The seed has been planted.  How will you nurture and care for it to ensure you produce fruit year in and year out?

Setting goals. creating a new blueprint for Success

As part of a franchise group, you should have a blueprint or plan for business growth to follow, but it shouldn’t stop there. What can you do to take ownership and work that plan? The sentence should now read.  It’s a new year so it’s time to review your goals and plans as you progress forward in your business. Perhaps you are not as close to where you wanted to be, or perhaps you have reached the next stage of success.

Whatever your position is right at this moment, NOW is the time to REVIEW


Here’s a quick review of how to successfully set and achieve your goals.

Set goals the Smart way and take consistent action to achieve them

I am sure you have heard this before either from a past article, from my newsletters or even another resource. Your goals should be SMARTA goals. Specific, Measurable, Achievable, Realistic, Time Bound or Time Framed and Action.

Here’s the flaw in this.

It’s no use setting goals if you are not going to take the action on a daily basis that will move you closer to achieving them.

How many times have you set a goal only to review them in six or 12 months time and have become overwhelmed or disappointed at how many you just didn’t achieve?  It happens often for many business owners and here’s the reason why:

You have to take the necessary action to achieve your goals. Setting them just isn’t going to do it for you.

With this in mind, start to review your current plan, think about what you want to achieve this year and put a plan of action in place to ensure every day is moving you closer to achieving your desired outcomes and not further away.

You Must Be Committed To Your Success

Make a total commitment to your success.

Once you have made the decision to be in business, be in that business. Get into it with both feet and don’t let anything hold you back. I have found there are two types of people: those who are interested in success and those who are committed.

Those who are simply interested, do what is convenient to them. Those who are truly committed will do whatever it takes to achieve their desired outcomes and the next level of success.  What are you doing every day to ensure the best outcomes for you, your customer, the franchisor, and the franchise network?  Make a commitment right now to start doing whatever it takes to make your business a success.

Start with writing a list of all the things you could do better in your business, or what you could do to go a little bit further for your customer, your staff, with your suppliers, and in other areas of your business. It only takes one or two things that could make a massive difference to your bottom line.

Communication Is The Key To Building A Successful Franchise

Now, of course communication is not the only key to success.  There are many other areas that are equally important but, here’s the thing:  if you cannot communicate effectively with your staff, your franchisor, or with your customers – you will have to work 10 times harder to make things happen.

In a franchise it is vital you maintain communications with your franchisor.

Keeping the communication lines open has major benefits. You also have to know how to communicate and when to initiate communication. As the franchise network grows your franchisor may not be as accessible as they used to be. It is important though to chat to them about it and find out what other methods of communication and support are available. Don’t wait until your business is almost nonexistent and blame the franchisor for not being there.

You as the franchisee should be 100 per cent responsible for your success.

Effective communication can be the difference between someone achieving average revenues and someone doubling and tripling revenues every year. With this in mind it is vital you also communicate effectively with:

  •      your    prospects
  •      your    clients/customers

Without prospects there are no customers. Without customers there is no business

Before your communication begins, you’ve got to know who you will be communicating to and what you will communicate. In other words, what’s your message?  What and how will you say it?

These fundamental elements should be part of your sales and business growth process, a process that every successful business relies so heavily on. As part of your sales process you should put together an ideal client profile and review it regularly to ensure you are maximizing your potential, year in, year out.

Take time now to consider who your ideal client is. Your ideal client profile should include elements such as:

  • how    they     think
  • why    they     buy  (wants versus needs)
  • what   they     want   – ‘hot    buttons’ (remember:  people don’t   buy      what    they need, they buy what they want)
  • who    to         target  –  (decision makers and influencers)

Once you know who your ideal client is and why they buy your type of products and/or services you have to find a way to effectively communicate your message, focusing on the benefits of your product or service and matching the reasons why they buy.

Taking a close look at your ideal client’s decision-making process reveals who you REALLY need to be communicating your message to.

Communication is more important than ever and not just in your initial lead generation or once you have secured a customer. With only four per cent of leads ready to buy right now and therefore 96 per cent not ready, if you don’t have a process in place to nurture your leads you could be wasting your time and your money in your upfront marketing efforts.

Every time you communicate to your prospect it’s vital you stand out of the crowd, grab their attention, create a strong interest and desire for your product and service and, of course, lead them over the finish line. With this in mind, all of your marketing/ communication efforts must follow a strict formula.

You must grab the prospect’s attention, build a strong interest and desire in what you are offering, including the benefits, all which must then be supported with a strong call to action.

Gone are the days where it’s enough to say “we are the best and this is why…..”

It’s all about the prospect now. It has to be about the benefits you will provide to them and what value you will add to them. They are tuning into “What’s in it for me?” and unless you can match your solutions, services and products to what your prospects want, you will have a very hard time growing the business of your dreams.

Maximising your potential in business is not that hard. It just requires commitment, clear communication, daily action and doing the right things in the right order.

Generating Leads

Your aim is to generate leads and opportunities and convert these into increased revenues to your business. This article outlines some of the challenges you may be already facing and highlights some quick simple steps of how you can generate more leads into your business.

In my experience one of the fundamental challenges most business owners face is not being able to generate enough leads into the business. Without a consistent supply of leads into any business, the business is usually faced with poor cash flow and finds it difficult from one month to the next.

You may have already experienced this and you now can be in a position where you have the opportunity to change what’s going on.

If you want to create amazing results in your business, and want to turn your vision into reality, the only way this can happen is if you are fully accountable for your success and are responsible for the actions you take on a daily basis.

Leads are prospects or potential customers.

It’s important though to attract quality leads into the business and not just any lead as this can waste your valuable time and money.

Your marketing efforts will determine the quality of the leads you bring into your business and the challenge businesses face in this area is 80% of all marketing doesn’t meet the expectation of the business owner.

Try not to limit yourself when it comes to advertising and marketing your business.

Traditional marketing methods include local paper advertising and emailing.

Opportunities let outside the square and can include strategies such as, building your referral networks.

Ads and direct mail are only the beginning!

They are important, however they should not be the only source used for generating leads for your business.

Not all lead-generating techniques are created equal either. Some techniques will work well for a certain business, and those same strategies won’t work for another. Much is dependent on your type of business, your location, timing, how well you apply the lead generating strategy, and a host of other variables that tend to make marketing an inexact science. Therefore it’s important to test and measure each strategy to find out what works, and make it work.

So here’s a brief look at what you can do to start bringing more quality leads into your business.

Firstly start thinking WHO, WHERE, WHAT, HOW & WHY when it comes to marketing your product or service.

Who are my ideal clients / market?

Understand who he/ she is and why.

Where are we going to find our clients?

Why will they buy from me? What makes us unique? Remember people shop on value and emotion.

Now you know who you want to target,

Create a Lead Generation Action Plan for the month

  • Listing at least 2 to 6 different lead generating strategies,
  • What steps you need to take to implement the strategy.
  • Who will complete the task/s required  to complete the strategy, and
  • Be sure you also have a Due date for the activity so you stay on track for the month.

Daily Consistent Action will produce results in your business that you need!

Here is an example of a lead generation action plan. (Click the image for a bigger version)