Shocking Truth About Franchising and Licensing That Every Entrepreneur Must Know | ft. Mike Andes | Ep.441

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In today's episode, we dive into the intricacies of performance pay and strategic business growth with our insightful guest, Mike, from Washington State. Renowned for founding Augusta Lawn Care, a franchise successfully expanded across the US, Canada, and Australia, Mike brings a wealth of experience in incentivizing performance and leveraging social media for business success.

Join host Matt Jones as he explores the concept of 'Pay for Performance' (PFP), where incentivizing employees by offering them a share of labor revenue leads to an efficient and motivated workforce. Mike candidly shares his strategies for measuring labor revenue, aligning incentives, and overcoming the challenges posed by highly customized service industries. Moreover, we delve into the evolving landscape of franchising and licensing models, where financial transparency and incentivizing managers become paramount, especially for absentee owners.

Discover how standardizing services, tracking key performance indicators for non-sales roles, and understanding the dynamics of franchise and licensing models can revolutionize your business practices. This episode also highlights the importance of ethical sales practices, with Mike drawing from his substantial experience in managing franchisees, ensuring their economic success, and avoiding the pitfalls of aggressive sales tactics.

Stay tuned for part two, where Matt and Mike will further explore the power of social media in business growth. Don't miss out on this opportunity to gain valuable insights and access free courses through Mike's website as mentioned in the show notes. Let's get started!


Watch the video version of this podcast at https://youtu.be/_FJT6qlLiLg

00:00 Performance Pay and Social Media Strategies

04:07 Franchise Profitability Challenges

06:24 Franchising Over Licensing: Legal Shift

09:35 Performance Pay Meritocracy Explained

14:24 "Lessons in Unethical Selling"

16:43 "Business Obligations in Solar Projects"

22:41 Profit Sharing Structure for Managers

23:48 Aligning Profit Sharing with Cash

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