Why one metric over all others makes all the difference By Thomas Scott and Joe Mathews Nearly 27 million people used Healthcare.org, the government’s new health insurance exchange website, during the launch month of October, and only 9.4 million were able to get past the technology problems and use the site during the first month. […]
Posts by Joe Mathews:
In a franchise investment, the more a franchise candidate can relate a brand’s story to the one they have in their head, the more open they are to having conversations with franchisee recruiters, learning more and eventually making a decision to purchase. The biggest trend for 2014 and beyond is that simply bombarding franchise candidates with ad copy bullet points is a poor way to tap into this hidden desire to relate. Candidates make decisions in “story form” not in “bullet form.” Companies that most effectively articulate a detailed, interesting and helpful brand story will do better at increasing franchise candidate engagement and thus increase the number of franchisees they recruit.
6 Huge Mistakes Franchisors Make When Outsourcing Franchise Sales Organizations that specialize in outsourced franchise sales are springing up faster than ever. Many franchisors think that focusing on until-level economics and franchisee performance and no longer worrying about franchise sales will lead to higher profitability and greater operational excellence. That’s their hope. And many franchisors […]
Franchise Performance Group Client VooDoo BBQ Wins 2013 Star Award For Best Franchise Recruitment Website
Franchise Update selects article-format franchise recruitment website as best in franchise industry Franchise Update awarded VooDoo BBQ the 2013 STAR award for the best franchise recruitment website in the franchise industry at its annual Franchise Leadership & Development Conference awards dinner in Atlanta. The STAR awards recognize excellence in lead generation, recruitment and industry-wide best […]
If you aren’t closing leads from portals, it’s time to change your tactics Franchisors have a love-hate relationship with franchise portals. Once the most popular source for franchise leads, portals experienced a drop in results over the past five years, leading many franchisors to stop using them for lead generation. Last year’s Franchise Update […]
How you should prioritize your franchise lead generation spends to find more buyers It’s that dreaded time of year again. It’s time for the franchise sales team to face the firing squad. On the spreadsheet, your franchise sales projections for the past year looked wonderful but they just didn’t pan out. Or perhaps you are […]
Professional Storytelling provides content that potential franchise leads crave. Quick, close your eyes and try to recall a business mailing, magazine advertisement or online banner ad that you’ve seen in the last week. It should be easy — the average person is exposed to several thousand display ads a day. But are you able to […]
How to Craft a Franchise Earnings Claim That’s Accurate, Precise, and — most importantly, Tells an Engaging Story Franchise Attorney’s conventional thinking about item 19 earnings claims has been relatively stagnant over the last 20 years. Thinking has evolved, but slooooowly. It went something like this: 1990: Franchise Sales Person: “Can we do an earnings […]
Want to grow your franchise system in 2013? Pay attention to these changes in the industry: By Joe Mathews and Thomas Scott This year’s International Franchise Association Convention was the largest on record, with over 3,600 attendees. As usual, franchise systems are looking to each other and industry experts to figure out how to grow in […]
Economic uncertainty, a stagnant economy and tight credit will create an environment where franchisors are going to rely on same store or same franchisee year-over-year increases rather than opening a significant number of new units to drive royalty revenue north of current levels. 2013 will be another bloody year for those franchisors committed to mediocrity. Only operationally excellent brands with strong franchisee validation will see performance gains.
Companies boasting strong unit economics and solid validation have a story to tell and a willing audience of interested would-be franchisees ready to listen. The trick for 2013 is connecting the two. The way prospective franchisees and franchisors connect will continue to evolve in 2013 according to 7 distinct patterns.