Author: Paul Segreto

CNBC’s Untold Story or Sensational Journalism: You be the Judge!

December 18, 2010December 18, 2010 · 15 Comments ·

As most everyone in franchising is aware, CNBC recently aired a segment on franchising, Behind the Counter: The Untold Story of Franchising. Well, as I’ve stated on several franchise social media groups and blogs, from my perspective, I believe the show didn’t present any revelation as the title hinted. I don’t believe there was anything that even closely related to the untold story. To me it was just another shot at sensational journalism.

Anyway, all that being said, it did present Five Guys Burgers in a fantastic light. Actually, a bright spotlight within franchising. Maybe even perceived as the model for franchising to follow. Proctor and Gamble’s concepts Tide and Mr Clean looked good as well (to the public – see why below) and I think it will help open the public’s eyes that franchising is more than fastfood. I was happy to see the Dunkin Donuts segment shedding a nice light on minority involvement within franchising. Actually, even though I have spent many years working with Indian franchisees, I was not quite aware how deep franchising goes within the Indian community.

As for the other concepts discussed on the CNBC show, personally, I don’t believe they fared as well. In fairness to them, giving them each an opportunity to [continue to] release statements and present their side of the story, I’ll reserve my comments and thoughts at this time.

A mistake? CNBC issues clarification

Now, a few days since the show aired, CNBC posted a clarification (below) about statements made on the show by Bill Van Epps, CEO of the Proctor & Gamble franchise subsidiary that franchises Tide Dry Cleaners and Mr. Clean Car Washes.

CNBC posted, During an exchange in our documentary with Bill Van Epps, CEO of Agile Pursuits, Procter & Gamble’s wholly owned franchise subsidiary, Mr. Van Epps told us that P&G was basing its royalties on net sales, rather than gross sales. It has come to our attention that P&G’s definition of net sales is what other companies call gross sales. Our documentary calls into question the practices by franchisors and shows the viewer how, sometimes, the difference between the franchise business being a profitable one and a losing venture is in the details. We have removed that exchange from the documentary.

I would like to comment about CNBC’s clarification, which I might add, is conveniently buried on the bottom of the page, and looked to do so, only to find there is no place for comments. So, I’ll post it here.

What about the many viewers that heard the exchange, and/or will hear as they replay the show? This is a perfect case of not being able to put the toothpaste back in the tube. Am I to understand that a long-time franchise professional, Van Epps, didn’t understand the difference between gross and net, to the point that he seemed to jump at making that distinct differentiation between the P&G franchise brands and other franchise brands?

I can’t help think this may have been a strategic statement, but I’ll give Mr. Epps the benefit of the doubt and instead, say that he probably needs to read his disclosure document more closely. As for CNBC, shame on them for not verifying facts before airing the show. Another case in point the show was more sensational journalism than an untold story, and further clarification in my mind why CNBC did not include the International Franchise Association when doing their research for the show.

I have one more question… As franchising is a key component, and probably the cornerstone of small business in America and beyond, maybe a correspondent specializing in franchising and small business should have done the reporting, as opposed to a sports business reporter? But, the precedent has been established, so I may consider writing about my beloved Steelers or Celtics in the near future.

Attracting Female Franchise Candidates via Social Media

December 9, 2010December 9, 2010 · 1 Comment ·

“Men are from Mars and women are from Venus, right? On Venus, there’s allegedly a lot more touchy-feely, emotional stuff going on…you know, talking, crying, connecting. Well, according to a study by The Guardian Life Small Business Research Institute, there’s a lot more of something else going on too: social networking.”

Read more about how women are utilizing social media in small business in the blog at Information Week SMB Technology for Small and Mid-size Business. The article, Social Media for Small Business: It’s a Girl Thang! refers to a study in which 1,200 small-business owners across 12 verticals (including financial services, high-tech, hospitality, and real estate) were surveyed, found that female entrepreneurs value social media “at three times the level” of male small-business owners!

This corresponds with our experience in working with franchise clients across various industry segments, where we continue to see more and more women explore franchising as a career alternative. And, for a variety of reasons, women choose to control their own destiny and take matters into their own hands.

Joining the force of today’s more sophisticated, educated and technologically advanced transitioning corporate executives, women are using social media to explore and investigate franchise opportunities. Tending to be more diligent and thorough than men in general, women relish relationship building and sharing of information making social media marketing perfect to attract female franchise candidates.

Several key steps to an effective social media strategy include, identifying targets, identifying where they congregate and communicate online, and identifying the online influencers of the target audience. In the case of women as a target audience, the blogging community is a perfect place to start, providing direction to other social media via links within the blogs along with direct “follow me / join me / like me” buttons. It’s within these captive “online communities” where franchisors can share information about their brand, interact with community members, and create interest in their franchise concept.

* Here’s another article supporting the case that women are embracing social media more than their male counterparts.

Social Media Facts & Fiction

November 13, 2010November 13, 2010 · 1 Comment ·

As I often do on the weekend, I spend time reading about social media, among other subjects, always looking for new trends, technology, and ways to effectively use the same within marketing strategies for my franchise clients. Today I came across an interesting article about whether or not social media is a fad, or actually a part of our future. The article pointed out some fact and fiction that really sheds light on where social media is today, and a glimpse into its future.

In addition, I came across another article listing 11 Twitter and social media tools to try in 2011. Which poses the question, do we really need more tools? I say, “yes” but then again, I love social media, and all it has to offer!

Social Media: A Fad or the Future
By: Sital Ruparelia
As posted on Career Hub Blog

“We don’t have a choice on whether we DO use social media; the question is how well we DO it”
– Erik Qualman, Author of Socialnomics [Video Review]

FICTION: “Facebook is for kids”

FACT 1: Actually, the 40 – 55 years age group is the fastest growing demographic on Facebook.

And, of course, this demographic also has the highest disposable income, lowest debt levels and strongest professional network. Which is why businesses and recruiters are flocking to set up Facebook pages to engage with this group.

FACT 2: Over 50% of the world’s population are under 30

So in the next 10 years years ”The Facebook Generation” will be leading businesses, hiring people, making key commercial decisions (what a scary thought!) – and, of course, buying products and services

So if you don’t learn to engage and interact with this generation using the tools they use – both you and your business will be in serious trouble.

FICTION: “Facebook is just a fad”

FACT 1: Facebook has 500 million users across the world.

So if Facebook were a country it would have the 3rd highest population in the on the planet. Hardly a fad?

FACT 2: Two months ago, in September 2010, Forbes released its list of the 400 richest Americans.

The biggest headline: Facebook founder and CEO Mark Zuckerberg posted the largest wealth increase on the list, with his estimated net worth jumping 245% to $6.9 billion. Love him or loathe him, Zuckerberg has changed the way people around the world connect and engage – and it continues to grow as more businesses start leveraging Facebook.

FICTION: “Twitter is just some silly thing that kids and celebrities use”

FACT: Actually 60% of Fortune 500 firms now use Twitter.

In my opinion, Twitter is the fastest, smartest tool to get real-time information on any market news. I often know more about industry news in my clients’ worlds than they do – simply because I use Twitter as a real-time news channel from my mobile phone.

It’s also a super way to engage and build relationships with people and organisations you’d have difficulty doing in the offline world.

With the advent of smart phones (iPhone, Droid and new Blackberry) Twitter has opened up all kinds of commercial opportunities for building a tribe of followers, potential customers and potential employees.

FICTION: “LinkedIn is just for job seekers who can’t find work”

FACT 1: 70% of clients, prospects and potential employees will Google you before meeting with you. And when they do, your LinkedIn profile will often be on the first page.

So just remember, your LinkedIn profile will paint a picture of you before you’ve even spoken to or met anyone. It’s very much your online branding tool regardless of whether you’re job searching or not.

Have you got a profile so that you gain an advantage even before you speak or meet? If so, does it reflect how you want to be perceived by clients, stakeholders, recruiters and potential employers?

FACT 2: Every recruiter and HR team I know use LinkedIn as a sourcing and networking tool.

Especially when trying to headhunt passive candidates who may not actively be searching – but are open to hearing about interesting opportunities.

FACT 3: LinkedIn is currently fairly unsophisticated. But in the pipeline are a series of upgrades which will transform how many firms use LinkedIn to recruit talent and how many of you will find jobs in the future.

FICTION: “You MUST be on these platforms. Twitter, LinkedIn and Facebook are the future”

FACT: Well actually it’s not about the platforms or tools – but about the message. About the way you use social media to engage, interact and build your brand.

The internet and social media are still very much in their infancy. What we’re seeing is just the tip of the iceberg. There’s much more to come – so don’t obsess about one or two platforms. Focus on your message and your brand so that you can adapt to the tools that seem most relevant to your needs and style.

FICTION: “You need to be really good with technology to fully leverage social media”

FACT: I’m rubbish with technology so if it were all about technology, I wouldn’t have a clue!

But I am good at relationship building and engaging with people – which is what social media is all about.

So focus on learning how to use social media as an engagement tool and brand-building platform – instead of worrying about how to use the technology and which button to press – you’ll figure that out as you go. So just get started.

Many “social media experts” will have you believe that social media represents the “biggest shift since the industrial revolution.”

That’s quite a statement.

Others will tell you it’s a complete time dump; just a fad which will pass. The reality is that no one really knows where it’s heading. But one thing we do know is that social media is here to stay and will continue to play a bigger part of our lives and careers.

Serious businesses are making profits, selling products, building brands and hiring talent using social media tools.

And they’re doing it today – not some time in the future. Which means you simply can’t afford to ignore it….

Local Business Listing Wars!

October 31, 2010November 1, 2010 · 3 Comments ·

Local business listing websites are trying to attract local consumers to use their websites to find local businesses, to rate businesses and to post their reviews. Businesses dependent upon the local market for their revenue need to be aware how local business marketing is achieved with local business listings and how all these websites will affect your business. The following is a blog post by franchisEssentials’ strategic partner, SmartFinds Internet Marketing, describing the upcoming local business listing wars.

Local Business Listing Wars
As posted on SmartFinds Internet Marketing Blog on October 24, 2010

Have you noticed the number of commercials being run by high-profile tier one companies and websites that are in the local listing industry?

For example you may have seen TV commercials for Angie’s List, SuperMedia, Yellow Book, and of course AT&T. If you add Internet advertising that includes but not limited to Google, Yahoo, Bing, Merchant Circle, Yelp and Citysearch many others, you have to start wondering how all these websites can attract a finite number of businesses and visitors to use their website. The other more significant question is how a business will manage their local business listing at all the local listing websites?

History of Local Business Listings

As a business, if you have not kept up with the evolution of local business listings you will need a quick primer to know where things started and where things are today.

The origins go back to the early 1990s when search engines had directories listing businesses by categories in addition to their basic search results. These basic business listings gave way to business directories giving the business the opportunity to add more information to their business. Of course, while this evolution was taking place so did having the yellow pages on the web. Business directories then gave way to the idea of rating a business with companies like Angie’s List, Merchant Circle and Yelp in social communities. In 2007 business listings began showing up in search engines and consumer reviews were already showing up in these local business listings.

So, in summary, a local business listing is a combination of yellow pages information, business description, business marketing information, consumer ratings and consumer reviews.

Local Business Listings as Interactive Yellow Pages

Calling these listings a business directory does not do them justice considering all the content that is available. Not only is this about getting your business marketing information into these listings, but they also become mini-websites for your business and more importantly allow consumers to quantitatively rate and subjectively provide commentary about their experience with the business, products and services.

Local business listing websites that are social communities allow customers and consumers to collaborate. We are distinguishing between customers being B2B and consumers being B2C. We will discuss B2B customer comments in a future article.

Live social communities that provide location based services like Four Square, Twitter and Facebook create instantaneous feedback to friends, family and followers alike. This collaboration not only allows for ratings and comments, but the information is posted permanently. This will require a business to ask satisfied customers to post commentary and manage those postings that are negative…..at multiple local listing websites.

Manage Your Local Business Listings Everywhere!

Unlike the traditional yellow pages where business information was located in a single source, the Internet lets business information be found everywhere. With so many sources, it becomes imperative for a business to stay on top of its information, description, marketing materials and consumer reviews at various local listing websites.

If you wonder why, the answer is simple. Your business information shows up in search engine results, mobile search results and is available to mobile application developers for mobile apps. Since you don’t know what source your local customers or mobile application developers are using, you need a way to manage many sources simultaneously.

Select a Company to Help

Whether we are talking about website local optimization, local business listings, mobile marketing or geo-social marketing, a business needs proper support to succeed in this new era of local business marketing. You need a partner with experience and expertise in multiple digital marketing fields and can adapt to the progression of new technologies that will become available over the next few years.

Some key elements for a company to provide local business listing marketing services include:

* Claim your local listing at multiple local listing websites
* Providing both data and marketing services
* Update your basic business data information monthly
* Update and manage your business marketing information that include photos, videos, coupons, offers, discounts, and events monthly
* Consumer review monitoring and management monthly
* Analytics review of local business listings analytics and the appropriate changes to your local business listings monthly
* Expertise in Mapping Technologies and GPS

Certainly your time resources are limited and Local Marketing Services are provided by SmartFinds Internet Marketing. You will find this to be of great benefit to your time resources and the low cost service may eliminate your yellow page ad costs. Let the experts of over 16 years Internet marketing experience help you use this local business marketing tool properly and prevent brand security issues from occurring.

Need more information please visit HERE.

Social Media Policies Within Franchising: The Debate Continues

October 26, 2010October 26, 2010 · 2 Comments ·

In the continuing debate about making the case for social media policies within franchising, below is an article by Attorney, Chad Finkelstein, expressing his opinion on the matter. So, as a franchise professional, we’d love to hear your opinion as well!

Franchising and Social Media
by Chad Finkelstein
As posted: Financial Post on October 25, 2010

Whether you are a franchisor or a franchisee, the realities of social media likely already affect you. Franchisors need to determine whether, from a marketing perspective, it makes sense for them to have profiles on forum such as Facebook, Twitter and MySpace. Many already do, but depending on the nature of your business, it is not always an ideal method of promotion.

If that type of online marketing suits the strategies of the franchise system, then the next question to ask is whether franchisees should be permitted to have their own social media websites – for instance, a Facebook page for that particular franchised location. The franchisor will need to decide whether the benefits of widespread marketing on these popular websites outweigh the costs of giving its franchisees that much control over advertising the brand.

Accordingly, it is a good idea for franchisors to develop social media policies, and for franchisees to ensure that those policies are not too restrictive. If you are an existing franchisor or franchisee, your franchise agreement likely already states that franchisees cannot conduct any internet advertising without the consent of the franchisor. While that may have made sense at the time it was drafted and agreed to, the practical realities of business today means that franchise law in Canada has to evolve to reflect new technologies and marketing platforms.

As a result, franchisors should consider adding social media policies to their standard agreements, and franchisees should consider requesting them where they do not already exist, so that the franchise system as a whole can benefit from this new world of online marketing.

Chad Finkelstein is a franchise lawyer at Gowling Lafleur Henderson LLP in Toronto.

With Social Media Comes Great Responsibility

October 12, 2010October 12, 2010 ·

Within the LinkedIn franchise groups we continue to see discussions about social media. There’s great interest in what still appears to be the unknown. With fundamental questions being asked and basics being discussed, there is still a level of exploration and discovery going on. Yes, and uncertainty as well.

But, there are also discussions about how to utilize social media better, more efficiently and effectively. Many are exploring ways to expand their social media reach into franchise marketing and lead generation. While others are determining how it can help drive business to franchise locations. And, others are looking into improving system-wide communications, support and training through the many facets of social media. Certainly, the franchise community is embracing social media more and more each day.

Discussions have also centered around social media guidelines, policies and procedures. Who’s allowed to do what is an often repeated question? Other questions touch upon Facebook Fan Pages, Twitter presence, types of posts, information to be shared and continue through to crisis management. All are very important topics of discussion and all must be addressed prior to launching a social media program.

That being said, it’s essential an overall strategy be developed that addresses these questions as well as establish goals and objectives of utilizing social media within your organization. Brian Solis, globally recognized as one of the most original and most prominent thought leaders in social media, is very insightful as to how organizations should embrace social media. In his recent book, Engage!, A Complete Guide for Brands and Businesses to Build, Cultivate and Measure Success in the New Web, he shares that insight.

Mark Cuban, owner of the Dallas Mavericks, investor, entrepreneur and Chairman, HDNet, is quoted as saying, It’s no longer an era of business as usual. Executives and entrepreneurs must embrace new media in order to not only compete for the future, but for mind share, market share, and, ultimately, relevance. [Engage!] helps you engage. Without it, you’re competing for second place.

In Chapter 17 of Engage!, Defining the Rules of Engagement, I believe Solis truly delivers the message, and addresses many of the underlying questions I’ve outlined above. At the very least, with respect to these questions, Solis provides what is in essence an outline of what must be considered as businesses take the next step within social media.

With Social Media Comes Great Responsibility
from Engage! by Brian Solis
Chapter 17, Page 205

Please remember these words…

Perhaps the biggest mistakes committed by businesses, personalities and brands in social media occur when people jump into social networks blindly without establishing guidelines, a plan of action, a sense of what people are seeking and how and why they communicate, an understanding of where people are congregating, a definition of what they represent and how they will personify the brand online, and the goals, objectives, and metrics associated with participation.

Everything starts with education and the instruction of policies to protect individuals and brands.

In addition to setting the guidelines and regulations for how and when employees [and franchisees] should and shouldn’t engage online when it relates to the company, we must teach our spokespersons, ambassadors, and advocates how to leverage the immediacy, extent, and potential of these powerful social media tools. Our communities will follow by example.

Holding informal and infrequent workshops and/or publishing internal guidelines for self-consumption and interpretation is not nearly enough to satisfy the substantial requirements for an in-depth comprehension of the scenarios, circumstances, objectives, hazards, and nuances associated with engagement, influence, and community building.

This is more than publishing and it’s far more important than empowering employees [and franchisees] with the ability to chat online.

It is our responsibility to contribute to the increase of a significant, tuned, and strategic signal, with a high ratio to noise. I assure you that in doing so, you will earn a place among the elite in the ranks of social, new, and emerging media practices within your organization.

Recently, on Franchise Today, my guest, BJ Emerson, Social Technology Officer at Tasti D-Lite, mentioned social negligence. At the time, I thought it was a powerful statement and was intrigued by its implications. But now that I’ve read Engage!, I truly understand what BJ was referring to, and now realize the power and magnitude of social negligence… and social responsibility.

This post was originally posted on this site April 2010.

Social Media… A Jungle for Franchising?

October 8, 2010October 7, 2010 ·

Franchising is no stranger to change. The industry adapted well to the internet when it integrated its then traditional marketing at tradeshows with development of elaborate websites. Next, the industry adapted again as it integrated its marketing efforts and web presence with franchise consultants and brokers through a multitude of franchise portals.

Well, as Bob Dylan once wrote, “…the times they are a changing.” Much has been written and spoken about weeding through the many tire-kickers experienced on the internet, shuffling from one portal to the next with the same non-objective to “see what’s out there.” The franchise industry has literally seen thousands of these leads with no purpose, no chance of ever presenting a franchise opportunity.

Instead of trying to catch fish in a wide open ocean, why not direct your attention to the fish in a lake, pond or even, a barrel? That’s correct, a barrel! In searching for qualified franchise candidates, we, as an industry, need to locate the barrels of candidates that exist in the market today. How do we accomplish this seemingly insurmountable task? We need to embrace new technology and integrate the same with traditional efforts. Specifically, Social Media and all it has to offer.

Social Media is truly extraordinary, consisting of many different aspects beyond the familiar LinkedIn, Facebook and Twitter. There are wikis, webinars, blogs and podcasts, just to name a few. But there are others as well. To the many, the thought of stepping foot into this jungle is daunting, and therefore, the journey continues to be delayed. So, as the old adage of how one could eat an entire elephant (of course, one bite at a time), it’s necessary to take small bites out of the Social Media elephant and step through the jungle carefully, one step at a time – using all the tools at our disposal to reach our destination… our objective.

The following is a discussion on a blog by Michelle Bonat originally posted in 2008 but still very relevant today. Michelle discusses taking small steps towards integrating Social Media Marketing with classic (traditional) marketing programs.

Babysteps…How to integrate social media with traditional marketing programs

Social media marketing is most effective when it is an integrated part of your overall marketing efforts. But how do you jump into social media when you already have some really effective classic marketing programs in play? Here are a few ways you can babystep into the world of social media by leveraging the good stuff you already have.

1) Maintain a single consistent marketing strategy through classic and social media marketing.

Your goals, objectives and messages should be consistent across all of your marketing. Sounds simple, but unless you define and enforce this it won’t happen.

The good news here is that you don’t have to re-figure this all out just for social media. It is really just taking your existing marketing platform and extending it.

2) Extend your reach – Reach out to your influencers in ways that they like to communicate.

Use your existing marketing knowledge about who influences your product’s purchasing decisions, and use social media tools to create a discussion with them where they hang out.

Some specific examples: Are your influencers kids? Get on the social networks catering to the younger set. IT buyers? Figure out which bloggers are influencing this community. Mobile sales professionals? Deliver content in a mobile enabled way, such as Twitter.

3) Invite your customers into the process.

While you are planning your next product, refining your messaging, or even launching a marketing campaign, figure out a way to get your customers involved whenever possible as early as possible. When you do this they feel that they have been heard, feel more engaged and valued, which results in a tighter connection with your company and product. It also gives you the benefit of upfront input. A product that people actually want? Described in a manner that speaks to them? Wonderful!

A good way to on-ramp this customer involvement include online communities (public or private, even a public group on an existing social network). You can even ask them to deliver their thoughts in video form by way of a contest – “describe what our product means to you”.

4) Turn an online forum into a social media hub.

Make people feel more at home by adding profile information and allowing the posting of pictures (or pointers to a picture posting service like Flickr).

Recognize that you have to give to get. Start a genuine conversation with your audience by having company employees contribute to the forums in their own words. For example, instead of just asking for feature enhancements suggestions, tell them what direction you are headed and, if possible, the timing for these enhancements (without giving away too much info). Then ask them their opinion.

Try these few tips to help ease into a social media program that leverages your existing marketing – and you will soon be on your way!

Note: This post was revised from earlier post on this site, “Web 2.0 – A Jungle for Franchise Development” (Mar 2009)

Targeted Franchise Lead Generation through Social Networking

October 7, 2010October 7, 2010 · 1 Comment ·

I usually explore social networking groups specific to the area such as the inHouston LinkedIn group and inHouston social network on Ning if I’m trying to generate leads in the Houston area. This type of group is relatively easy to target and expand beyond based upon member recommendations and suggestions. Work the crowd as if you were in a room.

In addition, I focus on networking groups that include individuals that best fit my franchise candidate profile. From there I drill down to individuals in the local area. Let’s say teachers fit my candidate profile. I would search out networking groups spefic to teachers, education, etc. I may participate in discussion groups to get a feel for the group and to be recognized within the group. There’s always a spin you could use. Next, I seek out members from the specific area I’m targeting and communicate what I’m trying to accomplish. It’s been amazing how many times I’ve wound up with a candidate in California that is willing to jump at an opportunity in Texas. It happens.

I also focus on groups that can provide me with referrals such as insurance agents, realtors, financial planners and attorneys. Again, if you’re proactive within networking groups it’s relatively easy to enlist support and gather information.

Lead generation through online networking takes time and effort no doubt. However, once you’re proactive within the groups, you almost windup with a snowball effect as the leads come in bunches. Some leads start out as simple as posting a thought provoking discussion, some back and forth interaction with a responder and the responder saying,”what is it that you do?” Next thing you know, you’re discussing an opportunity and the door is wide open.

Most times it takes considerably more effort but I’ve found people are networking online and participating in discussion groups for a reason. They’re all looking to expand their business, improve their position, seek out opportunities and make money. It sure beats running an ad in the local paper and waiting for the phone to ring.

Franchise Sales Myth Uncovered

October 6, 2010October 6, 2010 ·

The following was actually a discussion initiated almost a year ago in several of the Linkedin franchise groups. I am reposting the same as I believe it is still relevant and appropriate today. The discussion was originally started by franchise veteran, Joe Caruso. As many that participate within LinkedIn groups know, Joe is an active participant in discussions, providing direct answers that are well-supported by his extensive knowledge of franchising and his practical solutions to challenges facing the franchise community today.

Have you met the Magical Itinerant Franchise Sales Pro?

You know, the legendary rolodex-carrying franchise sales guy that can sell Board Stretcher Franchises to Carpenters. He’s the elusive guy everyone wants to supercharge their company’s franchise sales. All he needs is a phone and his massive rolodex. How does he do it…well he uses a mix of Alec Baldwin’s Glengarry Glen Ross A-always, B-be, C-closing style, the tenacity of a Danny Devito in Tin Men and Ron Popeil’s silver-tongue infomercial delivery.

No one can resist the siren call of The Magical Itinerant Franchise Sales Pro’s pitch. Once delivered, this pitch renders the prospect incapable of saying no and asking what is the maximum number of franchise commitments he can buy. Once The Magical Itinerant Franchise Sales Pro has sold-out all the territory, he moves on to the next franchise company with an even more massive rolodex in hand to do it all over again.

Well most of us know that The Magical Itinerant Franchise Sales Pro is a myth. But how many of us have been asked if we know a Magical Itinerant Franchise Sales Pro?

Great franchising starts with a financially compelling concept that has strong unit economics, a strategic development plan, focused lead generation and a carefully crafted sales process that ensures best-fit franchisee selection. The idea that somehow a franchisor can fast-forward to a happy ending by short-cutting their way to building a durable, sustainable and successful franchise system is unrealistic. It takes more than a dream of success and a Magical Itinerant Franchise Sales Pro.

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Author: Paul Segreto

CNBC’s Untold Story or Sensational Journalism: You be the Judge!

Franchise Sales Myth Uncovered