Part 2 of my interview with Jeff Johnson is here, and it's packed with invaluable insights into the franchise industry! Once again, we get real about franchise ownership, discussing the players you can rely on and those you should approach with caution. Jeff shares his expertise on navigating this landscape, empowering franchisees to make informed decisions with confidence.
One of the key highlights of our conversation is the delicate balance franchise developers must strike between transparency and the desire to sell franchise units. Additionally, we explore the concept of royalty sufficiency and the crucial role franchisors play in treating franchisees as important stakeholders. Jeff's insights underscore the significance of fostering a mutually beneficial relationship between franchisors and franchisees, ultimately contributing to the long-term success and sustainability of franchises.
There's a wealth of information in this episode—make sure you catch it! Tune in now and get the real story on the franchise landscape!
Jeff Johnson has been immersed in franchising for over 40 years. His entrepreneurship began after leaving a Fortune 500 company to invest in a franchise at the age of 29. Jeff was Schlotzsky’s New Franchisee of the Year in 1985; then as a multi-unit owner, he made the National Top 20 ranking regularly.
With 17 years of franchisee and Area Developer experience, Jeff learned that franchisees often do not share important insights with franchisor executives for fear of retribution. Without open & honest communication, franchise executives are left having to rely on gut instinct with many questions and no actual data, which can prevent a franchise network from attaining its true potential.
In 2002, Jeff founded the Franchise Research Institute (FRI) to confidentially survey franchisees for network optimization. FRI’s mission is to provide their franchise clients with high-quality, franchisee opinion research using scientific, yet easily understood data to be used in system- wide benchmarking, strategic planning, and validation.
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