February 13, 2024 • 41 mins
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Contact us here Anything@FranPro.com if you:
- Want help finding a franchise
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In this episode, Lance Hood of FranPro interviews Red Boswell, president of IFPG. Red Boswell is an incredible resource for any franchise organization. If you would like to work with Red you can reach him here: https://Franpro.vip/GoIFPG
One of the topics we discuss in this call is "How to be presentable for broker networks."
Also covered:
- IFPG is the world's largest consultant/broker group.
- Franchises need to be presentable and ready to connect with brokers
- Consultants educate and coach candidates, not just broker deals
- Communication & reputation management are crucial for franchisors
- Franchisors need a clear sales process & ideal candidate profile
- And more
We're thrilled to welcome our guest, Red Boswell from IFPG, who brings a wealth of knowledge about the fascinating world of franchising. Red sheds light on the art of networking and the importance of nurturing relationships, emphasizing these connections as valuable investments. He insists that success in the franchise world is built on more than just immediate results; it's a long-game requiring trust, commitment, and a fair amount of exposure in the industry.
Communication is a vital cog in the franchising machine, and we dive headfirst into the nuances of this crucial aspect. Red explains the need for prompt responses, constant monitoring of progress, and the role of consultants in these interactions. We also explore the importance of personalized communication, making your opportunity stand out in the sea of franchises.
The conversation then takes a sharp turn toward the role of marketing in franchise sales. We stress the relevance of keeping your sales process up-to-date and having a robust Item 19. He further emphasizes the need to be fully committed to your franchise business, and the difference a knowledgeable franchise development representative can make. Get ready for an enlightening conversation that could revolutionize how you think about franchising.
Contact us at Anything@FranPro.com if you:
- Want help finding the right franchise for you
- Would like to be featured on our program
- Would like help to produce or want a podcast produced for you
- Are a franchise company and want Free access to our ROI Tracker dashboard
*Some of the companies we interview compensate us a commission if you purchase something.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Lance Hood (FranPro) (00:01):
Welcome everyone.
Today we have Red Boswell fromIFPG.
Red, welcome to the call.
Red Boswell (IFPG) (00:07):
Thanks, lance, excited to be here.
I have no idea what we're goingto talk about other than
franchising, so ready to rock it.
Lance Hood (FranPro) (00:14):
Well, really quick for anybody who's
not familiar with IFPG, can youtake a couple minutes and just
share?
Red Boswell (IFPG) (00:20):
You bet.
International FranchiseProfessionals Group.
We're best known as the world'slargest consultant or broker
group.
We work with hundreds andhundreds of franchisors and
hundreds of consultants, as wellas vendors to the industry.
So we really connect folks,connect franchise professionals,
mostly doing deals, changinglives, making some income in the
process, and connecting vendorswith franchisors, connecting
(00:42):
zores with consultants.
We're a big connectionorganization.
And then we own some otherancillary support services, like
the one of the largest newsnetworks in franchise, franchise
wire.
We own career transition leads,nurture assist, so anything
really in franchising.
We support and connect and helpfolks with.
Lance Hood (FranPro) (01:02):
Nice.
Well, I thought you know whatwould be good today with all
your experience, because you'veactually, before IFPG, you were
actually on the franchiseoarside, so you have a lot of
experience, a lot ofintelligence.
What do you think?
You know?
I do, I know you.
So what do you think about?
What can franchise oars do tobest utilize a network?
(01:24):
Because here's what I've seenwhen you're new and you go in
and you start utilizing anetwork, just because you're
part of a network doesn't meanyou're going to get any traction
.
You actually have to connectwith the brands.
You have to have, you have tobe able to be presentable.
What are all those things thatthey should think about?
Red Boswell (IFPG) (01:43):
Love it and guys in the audience, ladies
when he says network, that's theindustry.
There's a lot of terms for whatwe do, primarily what we do.
The industry franchising callsus brokers.
We prefer consultant, advisor,matchmaker, coach, lots of great
terms.
We do so much more than justbroker a deal.
(02:04):
It's a very much an education,educational relationship,
matchmaking, handholding,introducing a lot of things.
These hundreds and hundreds ofconsultants do to support the
franchise oars and theircandidates.
So to your point, lance, yeahboy, that could be a whole
segment itself.
Franchise oars oftentimes willjoin a consultant referral group
(02:28):
like us and they sit back andbring it on babies, come on, I'm
ready.
They treat us like I don't know, like they're advertising in
the Wall Street Journal theydon't realize this is.
Or a paper click where theyjust turn it on.
The leads flow.
Now the leads are crap as crapcan come, but the leads flow
with consultant groups, referralgroups, broker groups.
(02:49):
It's a long term play, it's arelationship and relationships
don't happen overnight.
Loose, mostly right.
So they get to get know you,the consultants know you, the
Zor get to know you, thefranchise development rep
representing that franchise, orthey get to lack you.
They ultimately get to trustyou and then that's when the
(03:12):
magic really starts to happen.
And so that's a big, high levelanswer to your question.
What is Zor's doing incorrectlywhen they're working with
referral consultant groups?
Well, they're just not treatingit like a long term
relationship business.
They're joining it and notdiving in, not participating in
the webinars, participating inall the many, many, many ways,
(03:36):
especially the IPG Many ways toget your brand noticed and I'm
not talking get your brandnoticed to the, to the consumer.
I can get your brand noticedand ultimately get the
consultant to fall in love withyou.
You the franchise developmentrep, you the franchise or
opportunity.
Because when that happens,magic happen, lives are changed
(03:57):
and that it really scalesquickly.
The community talks, the wordspreads that you're a legit,
awesome opportunity withincredible franchise development
rep who knows how to frickingfrack behind the scenes, who
knows how to follow up quickly,to communicate well and
ultimately award franchises.
You might call them closeddeals, but it's a mutual
awarding process, so treating itlike a true long term
(04:21):
relationship will make all thedifference in the world for that
franchise or Right, because youthink you know if you hire an
internal sales team, they'rethere every day working for you.
Lance Hood (FranPro) (04:32):
You know if you buy leads, they just show
up.
When you work through a grouplike this, what happens is is
they are assessing you to makesure that they're not sending
their clients to a company thatis going to be a bad opportunity
for them.
They're assessing you to makesure that you have the ability
to actually award and closefranchisees, versus just receive
(04:56):
leads and they they fall on theground and turn to nothing.
And also you have relationshipissues where they have to
actually enjoy working with youand like you and all that stuff
comes together.
And then the I think the fourththing would kind of be that
they have to have exposure, theyhave to know that you exist and
get to know you, and then youreally don't need a ton of them
(05:18):
because a few solid brokers canfill your pipeline pretty good.
So can you kind of speak onthose things?
Red Boswell (IFPG) (05:28):
Yeah, brother.
So an analogy I love is whenyou've got a franchise
opportunity and then you havethe franchise development rep.
That's representing thatopportunity.
Might be in house, might be outof house, they're still
representing that opportunity.
They're handling therelationship with that new
candidate, wherever thecandidate came from, and taking
them through the discoveryprocess ultimately to a change
(05:49):
life by awarding that franchiseRight.
So the consultant is out thereinvesting their, their
livelihood, their blood, sweatand tears, their life savings.
They're investing that intofinding great leads.
They're educating those leads.
They're building rapport,building that trusted advisor
relationship with that lead,getting to know them, asking
(06:09):
lots of questions, schedulingmultiple calls, narrowing down
the search significantly talkingto them about sort of during
that narrowing down andultimately narrowing it from 600
plus in our case a franchiseopportunities, and really we IPG
have vetted thousands down tothat 600.
Now the consultant is doing itdown, down, down big process,
(06:30):
helping that candidate reallyfind the right opportunity, not
just an okay one but the idealopportunity.
And so, as they narrow it down,the consultant with the
candidates assistance it.
You know this is a half apercent of the ones we've added.
This is a very tight narrowingdown.
Well, part of that narrowingdown is that consultant needs to
(06:51):
really trust the, not just thebrand, but the friend dev wrap
we've talked about that a momentago, but I just harping on it
again.
And so an analogy, I think,makes a lot of senses.
If you're a parent and you'vegot your baby but there's
nothing more important than theworld, than your baby you give
your life for that baby, right,in many ways that consultants
(07:11):
candidate that they have reallybuilt, built, built a trusted
advisor relationship.
That's the baby, that's thatconsultants, baby man.
Thousands of dollars and tonsof time have gone into that one
that can candidate.
Well, the franchise, or is youknow, if you got a baby you're
looking for?
Occasionally you got to go on adate with your, with your
spouse, and so you need ababysitter.
(07:32):
Well, who you got to trust?
Who are you going to trust withyour baby, right?
So you're going to vet that,that, that babysitter, big time.
Now, maybe you taking your babyto the babysitter's house,
right?
That's how it happens.
Sometimes they come to you onthis analogy you're taking to
their house.
To me, the house is thefranchisor.
(07:53):
That house gotta be safe foryour baby House.
Gotta be in a good neighborhoodfor your baby to be safe.
Right, that's important.
But you know what's moreimportant?
French has development rep whois gonna be dealing with taking
care of, feeding, watching mybaby?
And that French has developmentrep, whether it's in house,
whether it's outsourced to anFSO, whoever it is, they better
(08:13):
be the best in the world.
I'm not selling for second best.
This is gonna be my livelihood,my candidate's livelihood.
I gotta know they're the best.
And so more important than thehouse, aka franchise or
opportunity is the franchisedevelopment rep.
They gotta be on their A game.
Ain't nobody got me gonna trustmy baby with than the very best
(08:33):
.
And so, to your point, lance, toanswer your question and
numerous questions mixed inthere, it's all about really
diving in.
The ZOR has to be fullycommitted and they have to have
a franchise development rep thatis fully committed to our
industry and to the consultants,and you do that in so many ways
.
I mean, ultimately, thatfranchise development rep should
get with the consultant group,such as IPG, and ask them one on
(08:57):
one what can I do more, how canI do it better?
And they'll look at the profile.
You got some good downloads theconsultant can share.
Have you identified the idealcandidate profile that the
consultant can share?
Are you registered for theirannual conference or bi-annual
conference?
Are you getting your livewebinar done?
Do you have some videos thatthey can watch and learn more
about it?
Some.
Do you have a?
(09:19):
How many?
Are you updating itperiodically?
We got brands that have oldcontact.
Are you offering semi absenteeand are you communicating what
the qualifications are for asemi absentee Cause?
There's a lot of deals happenin the semi absentee world.
I can go on and on, lance, butI know it's a long answer to
multiple questions.
But it's really committing toit and being all in it on a
(09:41):
daily basis and not treating itlike any other lead source.
You'll succeed over time and itwill build and build and build,
and two, three, four years fromnow you won't even recognize
the organization you've builtbecause of your relationships.
You've planted seeds in three,two, four years ago with the
consultants.
Lance Hood (FranPro) (09:59):
Absolutely .
You know, I see some, there'ssome companies that you have
such a good I would say you havea good relationship with them
because that's built on trust,but also they just seem like a
great opportunity for yourclients and they handle things
professionally.
And the big thing I thinkyou'll hear through this whole
series is communication and onelike an example I had just
(10:21):
recently.
I took a great clientwell-funded, high level clients,
introduced him to a big brandand I got busy working on this
event here and I wasn't payingattention.
I was like I haven't heardanything.
So I contacted them after threeweeks saying hey, I have
(10:43):
franchise or which.
Yet in a major franchise or, andI contacted them after three
weeks and I'm like, hey, Ihaven't heard anything.
I can't find anything in myemail on what step they are in
the process, where they're at,what's left to do.
You know timelines, and theyjust said we need to reschedule
them for this meeting.
Well, I don't even know whatthat meeting is, and that was
(11:04):
the whole answer and they weredone.
And so I said something backand I hadn't heard from them
again in three weeks and I said,hey, it's been six weeks.
I only heard from you because Icontacted you and what's going
on.
And they gave me a one lineanswer again, whoa.
And then so I just fired backwith like a bunch of questions,
getting details, like well,they're gonna probably close
(11:25):
this month and I'm like what'sthe date and what's remaining on
the list?
And part of it was we just needto redisclose them and I'm like
, well, that takes two weeks.
Like, oh my gosh, so anyway, soyou think about me with that
relate with that franchise orit's a big company, you know
they're they, they have decentnumbers, but I can't work with
(11:46):
those reps because they're justI don't know if they pay their
people more for organic leadsversus referrals, you know or
what, but they were.
They're just no communication.
So those are things that peopledon't realize, because you as
the franchise so don't realizewhat your team is doing when
you're not around and that couldbe hurting you within the
(12:09):
groups and you don't even knowwhat's happening.
But that's genuinely when thathappened.
And then everybody talks right,so people know this is
happening.
Red Boswell (IFPG) (12:18):
They talk and there's ways to consultants.
At least with an IPG system youcan see in real time anytime
the consultant can and thefranchise or can, the average
response time to a territorycheck?
That's.
That's very telling.
That's front end of thepipeline.
How engaged are they?
How quickly do they respond toterritory check?
Sure, he's going to have someoutliers that hurt your average
(12:39):
a little, but you get a hundred,200, 500 territory checks in a
year through IPG alone, maybe1500 in some cases.
You're going to have some easynumbers that the consultants can
see how engaged you are.
Also, we've got reviews.
Consultants not only talkamongst themselves but in a more
mass setting.
Every ZOR has reviews at thebottom of their company profile
(12:59):
that the consultants can add tofive star, three star, two star.
Why explain it?
And you know, be gloating, beproud of them or tell hey, run
away from these guys.
They're clueless, they don'tknow how to fricking frack,
meaning communicate behind thescenes of how it's going so
critical to success.
Lance Hood (FranPro) (13:20):
Yeah, if you're not going to communicate,
don't think they're going tobring you more of those leads.
You know, because they, becausethat lead to a consultant is
one, two, three months incomeand they have expenses behind
that, you know, and they need.
By the time they brought themto you, they've nailed it down
to usually, or you know maybeone company and so this is their
(13:41):
.
You know, this is their shot,so they're expecting you to take
good care of it.
They've spent the you know timeto really whittle them down.
Red Boswell (IFPG) (13:49):
Yeah, and two things to note.
Too oftentimes it's threecompanies so that if you're not
doing your job, no problem.
We got two more that they'reworking it right.
And the consultant is typicallychecking in having that ongoing
cadence on a weekly basis giveor take with their candidates.
So you know things aren'thappening in that first week.
Second week, don't move it on.
You know you got to be on it.
(14:10):
The consultant is working withthe candidate, still holding
their hand, massaging this dealall the way to completion.
Lance Hood (FranPro) (14:17):
Yeah, you know I don't have a complete
list here, but you know,definitely one of the things is
you appreciate the companiesthat will give you an email at
each step or after eachcommunication, like you get
synopsis.
That creates trust and thenwhat they don't realize is it's.
It might seem like a handoff,but on our side we still have to
(14:38):
keep the franchise or theclient and the lender all
communicating and all on thesame page with dates and
timelines and handle things, andwe might get objections that
you don't get and we can'tassist you or help if there's no
communication or slowcommunication.
Red Boswell (IFPG) (14:57):
Yeah, you are that trusted advisor in the
relationship.
If the franchise or is notutilizing you to your fullest
potential, they're going to begone.
They're not going to get anymore deals.
And also, you mentioned thatemail.
We train our franchise or's andthey don't always listen.
But and the consultants ask theconsultant how they want to be
communicated with.
Maybe it's a text, maybe it's aphone call, maybe it is an
(15:22):
email.
And then, lastly, on thatcommunication part, regarding
Frick and Frack in the IPGsystem, we have a deal tracker
where the Zor can update thelead, the candidate in the
process, where they don't haveto text email or phone call to
the consultant unless there'ssomething more thorough they
need to discuss, and it tracksevery candidate and where they
(15:45):
are in the discovery processwith each franchise or what
makes it beautiful?
Great, great simple tool andmap visual to understand where
every candidate is with everyfranchise or.
We love it, the consultantslove it, the Zor's love it.
It makes their company and theprocess run more efficiently,
(16:05):
saving time and money, andeverybody wins.
Lance Hood (FranPro) (16:08):
Absolutely .
Well, if you were to go througha list of you know the things
that you think from all thesethings, from you know how they
interact let's just talk abouthow they interact with the
brokers what would be the toplist of things you think that
franchise, or should make surethey do, with brokers?
Red Boswell (IFPG) (16:26):
Wow, I should have you know.
I love that these are impromptuquestions.
But let's see Number one.
Have your company profile allthe way rocking.
I mean everything I mentionedearlier from the ideal candidate
profile.
So many Zores don't reallyexplain who you're looking for.
I mean, help us throw us a bonehere.
Who are you looking for?
(16:47):
The response is the territorychecks, the downloads, the
videos, the item seven heck,item 19.
Give all the information youpossibly can in your company
profile to make you anattractive opportunity.
Don't make the consultant callyou.
Don't make them go to extrawork.
They're going to just pass onyou.
Make it easy and show that youknow what you're doing.
Next, be fully involved,engaged, as we mentioned.
(17:09):
Have a quick response toterritory checks.
Are you getting an email or areyou getting a text in an email
on your territory checks?
That text, as we all know, getsresponded to a lot quicker than
an email and then you've fallenup with them properly.
And that response to aterritory check, are you just
saying available, send, beinglazy Maybe you're going fast but
lazy or are you responding withenthusiasm, personalization?
(17:34):
Give them a reason orammunition to show you.
Don't just say it's available,say yeah, it's available.
Our top franchisee is acrosstown.
They're doing this.
That here's my phone number.
Let's talk, show enthusiasm,personalization and a reason to
show you when you respond tothose territory checks.
We're known as the territorycheck organization.
We've got an easy TC tool.
(17:55):
Consultants utilize it,incredibly.
But then I get Zors go rad.
I'm getting all these territorychecks, I'm not getting
registration, I'm not gettingcandidates introduced, what's
the deal?
And then we talk through well,what percentage of them are
getting done?
Here's why Are you respondingquickly?
And then I go through what wejust talked about.
Give them a lot more bestpractices.
Here's an analogy I use withthem is a territory check.
(18:18):
From a franchise consultant tothe franchise, or checking to
see if an area is available islike when you're single and
you're at the church or at thebar.
You're at wherever you meet theperson you're interested in
meeting.
You see a cutie or something.
You walk up to them, tap themon the shoulder and go how you
doing.
Give them that Joey Terabianithere.
(18:40):
That's kind of like a territorycheck.
It's an at-bat.
You're checking to see how theinterest is and if there's
availability.
Well, if that franchise or AKAthe person you just tapped on
the shoulder, sits there for 10seconds, that's 10 hours on a
territory check.
It's torture.
And then he turned around andgo, I'm good.
And then go back around, that'ssaying available, sent, zors do
(19:07):
it every second of our day,pretty much Available, sent 10
hours later.
Man, you tap on somebody'sshoulder, say wait 10 seconds,
say yeah, I'm good, and turnback around.
You are gone.
And so they turn around quickly, smile hey, you hand out.
How are you?
You come here often, where areyou from?
What's your name?
That is a responsive territorycheck with enthusiasm,
(19:27):
personalization and a reason tokeep talking to me.
So take advantage of thoseterritory checks, follow up with
them, get that phone number, etcetera.
So a big one is having your acttogether, your opportunity,
well presented, responding,engaged and with the consultant.
And then to your point thatwe've been talking about get
(19:50):
that fricking frack on fire withcommunicating back and forth
nonstop to move this candidateto a whole new life with that
franchise or Yep, I agree withyou.
Lance Hood (FranPro) (19:59):
I think it's about being a team versus
thinking of it as a handoff.
And there's some zores thatyou're just like.
They're treating them like freeleads, like this is this is
client, is my baby, and it'sjust treated like free leads
that don't matter so, and youknow what.
Red Boswell (IFPG) (20:18):
I tell you what, dude I apologize for
interrupting.
Can consultants do it too?
Those consultants who justhanded off and wait for?
Give me the money.
Where's my money?
No man, this is partnership,it's two way street.
You follow up with them.
Give me updates.
I'm waiting for your update.
I'm giving you updates back andforth.
Equal, fricking, frack, it'snot frick.
It's not frack, it's frick andfrack, you know.
(20:38):
So we got to get get it workingtogether in that three way
relationship.
Lance Hood (FranPro) (20:42):
So it makes it fricking amazing.
Yeah, exactly, but.
But you're right, the bettercommunication you just have,
you'll close more deals andyou'll create more of a
friendship.
If you want a relationship withthe broker, that's how you do
it.
What when?
When I like saying, fill outall the details about the
company and have all thosepromotional pieces, because
(21:04):
sometimes you're looking atthings in the middle of the
night, you can't talk withanybody, you're just doing your
research, and sometimes you'resending a territory check like
10 minutes before presenting,because you're like you know
what?
What about this last company?
Maybe I'll introduce this lastcompany.
So that's why that that lastminute thing is like whether
you're in or out, just becauseit was a whimsical thing, maybe
I'll add these guys, you know,yeah yeah, and that ideal
(21:26):
candidate profile.
Red Boswell (IFPG) (21:28):
So many Zores just go oh, I mean, we
take anybody, you know that.
Give me something really tight,like there's a a lot of senior
care.
I still remember three yearsago.
I'm reading their profile and Isee ideal candidate and they
give the usual must, follow up,proven system for success and be
coach.
Of all the platitudes you seeon every franchise.
But then they said if yourcandidate has ever been in
(21:51):
pharmaceutical sales, pleasesend them to us.
I'm like dude, laser, laserfocused.
They know their ideal candidate.
I called up Marcos over therelike dude, where did you get
that?
What did that come from?
He goes we had a couple offranchisees come in.
Both of them, coincidentally,had pharmaceutical cells.
They killed it.
We realized they've got thatprofile.
The training they go through toget to that successful
(22:13):
pharmaceutical sales career isideal to who we're looking for.
And he said, boom, we startedlooking, marketing, targeting
pharmaceutical sales reps.
It's been golden.
Half our franchisees have apharmaceutical sales rep
background.
I was like, oh, I love this.
Now I don't expect every Zoreto have that much of a laser
focused definition of idealcandidate, but the more you can
(22:33):
give the consultant to help themfind the ideal candidate for
you, the better.
Lance Hood (FranPro) (22:39):
Exactly.
I appreciate that because thathelps me when I'm working with
clients to get an idea thatmaybe I should discuss this for
sure.
What are some things reallyquick that a franchisee or
should have about themselves?
There's two things that I'mthinking about.
There you have the salesprocess right, because
(23:01):
established systems have a veryorganized sales process.
New companies sometimes arelike let's just talk it out,
I'll just answer their questions, give them a five minute spiel
and they're going to buy this$250,000 franchise.
So sales question questions andthen questions about what makes
them look really good.
(23:22):
So picking the first of whatmakes a franchise look really
good to a broker and a client.
Red Boswell (IFPG) (23:28):
And item 19, .
Tell you what a lot of Zoresthey talk to I might not have an
item, I don't have a team.
Ask them why.
And they say, oh, the attorneysaid all we have is corporate
locations.
We can't really have one.
Go get you a new attorney, geta second opinion.
Give me a break here.
You can't have item 19 numbersbecause they're corporate units.
Whatever you want disclosure,how do you even talk about
(23:50):
financial performancerepresentations without an item
19?
You can't.
And what buyer is going toinvest in an opportunity without
some insights in that?
Now, sure, you can go throughvalidation, but a lot of them
aren't going to get to thevalidation stage with the
current Zs without item 19numbers.
Now you may be saying, yeah,red, but you just said in that
scenario they don't have anydisease, it's all corporate
(24:12):
units.
You can still talk to themanagers at those locations.
You can talk to people in theprocess that have no financial
gain with you buying thatfranchise.
You can disclose as afranchisor numbers in the
corporate units.
So an item 19 is so importantthese days as 80 plus percent of
growing franchisors probably 95percent of growing franchisors
(24:35):
have an item 19.
And the consultants would loveto have some insights into it as
well.
What else can they do?
That's best practices in theprocess of communication.
A defining a semi absentee modelhelp, more insight.
So many great buyers areinterested in more of a semi
(24:57):
absentee building a lifestyle.
Maybe they're high levelexecutives not gonna leave that
income.
Do you accept it?
When do you accept it?
How do you accept it?
Do they have to have a managerup front?
Does the manager have to haveequity?
Do you train the manager?
Do they?
Still?
The buyer has still have to beinvolved at least 20 hours a
week.
Really clearly defined semiabsentee can help immensely.
(25:20):
And then there's been changeswith the SBA registry and how
that's working.
But still make lending as easyas possible with documented back
to the item 19,.
Documented item 19 and haveeverything you need so that the
SBA, the banks, can make itsimple and clear for deals to
(25:43):
get done faster, easier, causewe know time kills deals.
Another one, lance, is a visualvisual of your discovery process
.
Hey, you got eight steps.
Awesome, let's get a clearvisual.
Half the world are visualpeople.
You can tell them the steps,watch, wrap, bomb.
Give them a visual, remind themof it on every call.
You're booking every callduring this call.
(26:03):
Right, this call I'm gonna bookthe next one.
So you're booking that.
These are some fundamental salessuccess factors here best
practices, and we all mosteverybody hates the word sale.
They like to buy but they don'twant to be sold, right?
Well, we are a trusted advisor,but there are simple principles
in the trusted advisorrelationship that any good
salesperson follows as well.
(26:25):
So, whether you call yourself asalesperson, you admit it or
not, you have some principlesthat you need to follow.
One is booking a call, the nextcall.
On this call, showing themwhere they are in the process on
every call, we're gonna be atthis step.
Next call and communicatingthat Frickin' Frack three way
back and forth.
Being at the retreat, the annualconference, being at regionals,
(26:48):
getting in their magazine,doing audio podcasts, video
podcasts, following the systemsand utilizing the marketing
pieces that the consultantreferral group utilizes and
offers to you can make a hugedifference too.
How are they gonna get to knowyou?
How's the consultant gonna getto know you lack you trust you
if you're not doing things toget them to know you lack you
(27:08):
trust you?
So, providing them those toolsand resources, but also getting
out there shaking the hands,flesh to flesh, breaking bread
and building the relationshipsof trust.
I say every regional discoverymixture that we have we have six
to eight of them a year I sayevery time this is where deals
start, this is where the dealsbegan.
Wait, what are you mean, red?
(27:29):
We're just having lunch, we'rehaving dinner, we're having
drinks, we're doing speednetworking, we're visiting some
locations.
Yeah, none of those deals.
Three months, six months, 10months, none of those deals are
gonna happen had this nothappened.
First, the relationshipbuilding and the understanding
of the opportunities.
So I know I'm giving you a lotof answers here to a complex
question, but it really is acomplex issue that, when done
(27:51):
right, can be absolute gold forthe consultant for the ZOR, for
the candidate for the community.
Lance Hood (FranPro) (27:57):
Absolutely from being at those types of
events.
I can tell you that that'sabsolutely where you start
seeing the franchise reps andthe franchise Ores as your
friends and you start to you getto know them and then you're
like, when you talk with yourclients, you're like oh, I know
these guys, they're great.
Like you know them not, versusthey're just answering questions
(28:20):
for you.
Red Boswell (IFPG) (28:21):
Dude, how do you think I got this job, my
calling here with IFPG or andI've been here over four years
as president I was a franchisedevelopment rep.
I was a franchise over for that,but I was a rep probably eight
years working with all theconsultant groups all over and I
got this reputation forreliability, good communicator,
friendly guy, likeable character, good leader.
(28:44):
He knows franchise, he knowsour world, good fricking fracker
.
I built that relationship andthen when I left a franchise ZOR
, I had two of the top groups inthe world contact me.
Hey, we wanna talk to you aboutcoming on board with us and
being our president.
I wasn't even trying.
I was gonna be on this ZOR sideforever but because I did what
you just said, lance, followingthrough on every piece of the
(29:05):
puzzle, built that reputationthat I didn't even know they
were watching me so closely andultimately blessed with this
amazing career that I've builtnow building IFPG to well.
We've 10X'd our size andprofitability in four years
because of people see we careand we've got the best
(29:26):
consultants out there because ofour model.
Lance Hood (FranPro) (29:29):
Well, do you have time for another
question?
Red Boswell (IFPG) (29:33):
Let's bring it on, buddy.
I'm all over it.
Yeah, this is fine.
Lance Hood (FranPro) (29:36):
So, with the sales process, we talked
about that earlier, and thefunny thing that you brought up
that I wanted to bring up isthat you talked about people
having to have an item 19.
I have worked with a lot ofclients.
I've never once had a clientsay Lance, I have a ton of money
, I don't care if this thingmakes any money, I just need to
(29:58):
spend it.
And quick.
It doesn't happen.
No, no, they're looking for aninvestment and in some cases
this is a career that, if itfalls apart, everything falls
apart for them.
And so the biggest thing is isthis going to pay my monthly
bills and is it going toactually crumble or is it going
to stay in business?
And so what you're saying isthey do have to focus on having
(30:22):
a way to focus on their item 19,because that's the core, that's
what people are buying, and soif you're not ready to present
that, or if your numbers are notgood, you need to go back to
home and fix it there and thenbring it out.
You can't keep sellingsomething that's limping along.
You have to make it.
If you make something amazing,it'll sell itself.
Red Boswell (IFPG) (30:45):
Yeah, yeah.
And the extension of that,lance, is so many Zores feel
like they've got the greatestopportunity in the world,
greatest opportunity sincesliced bread.
This thing is going to takeover the world.
They love it.
They love their baby and theirbaby is the most beautiful thing
you've ever seen.
Now I may think that baby is adog, but they, their baby, is
golden right.
They think they're just goingto.
(31:05):
People are just going to belining up and buying it.
They've got to.
In the Bible it says when youget married, you leave your
family, your parents, and youcleave to your spouse.
Leave and cleave and I use thatanalogy with Azor.
They talk to these emergingZores all day long.
And they're going to keeprunning their local original
business and they're going totry to be a franchise or heck,
(31:26):
they may even try to be thefranchise development rep on top
of that lunacy.
I I did that starting out, butat least I knew I couldn't run
my original business and be afranchise.
Or you got to leave thatbusiness and you can still own
it.
You got to get some full-timemanagement all day long.
You are a Zore.
This is not just your mistress,this is your new family and
(31:46):
it's going to be a hundred timesbigger than that original
business.
But it needs your full-timeattention, and to the next level
.
You can't be a franchisedevelopment rep and run the
entire franchise or organizationto separate roles.
So get some great somebodygreat in the franchise
development role that knowstheir stuff inside, that not
just your, your, your neighbor,your used car salesman, your
(32:07):
cousin Eddie.
Get somebody who really knowsfranchising inside now that has
a reputation.
You can ride their coattails oftheir reputation within the
consultant community especiallyto a faster success rate than
just learning as you go andburning leads left and right and
developing a bad reputation inthe process.
Lance Hood (FranPro) (32:24):
Right, Because also they might have all
those relationships that we'vealready talked about established
and on day one they get theirhead wrapped around your
business and they can run.
Red Boswell (IFPG) (32:34):
Yeah, those guys aren't cheap, you know
there's.
I say often there's nothingmore expensive than a cheap
attorney, there's nothing moreexpensive than a cheap CPA and
in many ways guys, there'snothing more expensive than a
cheap franchise development rep.
Hey, for a good one you'regoing to get good results, as
long as you got a good model.
And the good ones know ifyou've got a good model, though.
Lance Hood (FranPro) (32:53):
From your experience as a franchise or and
from a consultant group andeverything that you've done.
What is?
What is a good basic framework?
Cause it's going to be tweakedand different with different
companies, but what's a goodbasic framework to follow for a
sales process or awardingprocess for a franchise?
Red Boswell (IFPG) (33:13):
You know people, uh, time is of the
essence more than ever and the?
Uh access to information isthat at all time, high right
With the, the Amazons of theworld.
So so many candidates andsocial media and everything else
.
So many candidates areresearching everything.
Well, before they talk to you,they're like I don't want to
talk to some sales guy, andguess what?
(33:35):
20 years ago, hey, we, we ownthis process.
Here's my info.
Oh, let's have a call.
Before I give you my brochure,you need to fill this form out
before we talk.
More than 10 minutes.
Guess what?
The candidate, the consumer, isin control more than ever.
So you can deny it, you canfind it and you will fail.
(33:56):
So get them as much info thevideos, the social media, the
just tons and tons of info.
Well, guess what?
If you're not providing thatinfo, someone else is, and
they're probably yourcompetition.
Find as much videos and contentand excitement and interest and
visuals, everything possibleout there in all the different
(34:17):
media that you can, because thecandidate is researching it
prior to ever talking to you.
And then, once they talk to you, guess what?
Because you've done it properly, because you've educated on
properly, whether they came froma consultant or not.
Now they're going to go throughthe process faster.
They're going to likely be muchmore qualified because you've
weeded out through your clearcommunication before they ever
(34:40):
talk to you.
You've weeded out folks whodon't meet that criteria because
you've communicated the propercriteria and they are more
engaged, more in love and againclose faster.
They're going to be betterfranchisees.
So, clearly, providing so muchcommunication beforehand and
then, once they're in theprocess, again book the next
call on this call so you're notchasing them.
(35:02):
Give them homework on everycall.
Give the fricking frack.
Tell the consultant if it'sfrom a consultant what the
homework was so they can holdthem accountable.
Money's call Just be on yourA-game man.
Don't treat this like so manyzores.
Just don't follow up.
They don't respond.
They don't.
Fricking frack, I mean we're abroken record on this call.
(35:22):
But if you're engaged with thecommunication up front during
after, it's going to be a morefun life.
You're going to get bettercandidates, better Zs, more
profitable, make more money,have more fun.
It's going to be greatestcareer in the world for the
right folks.
Or it can just be a miserablefailure for folks who aren't
really following, communicatingand providing the right content.
Lance Hood (FranPro) (35:43):
Absolutely .
You know you talked about, youknow it can be a miserable
failure.
I would think, as a franchiseowner, when you're first getting
started, that's when you havethe most money right.
The longer your franchisedevelopment goes and you're not
bringing on franchisees, you'rebeing drained.
So you got to make gooddecisions up front, not not not
(36:06):
have a long learning curve.
So listening to information likethis can help you take action
and get results while you'restill in a good place, versus
getting fed up, and I thinkyou're right, as is they don't
want to be wearing all hats youhave.
You know you have to do this andand that motto, thought of
exposure, having exposure tofind franchisees is good, but
(36:29):
access to you, I think, is evenbetter because, like you said,
is they're going to start doingtheir research and if they have
access to even one other guy andno access to you, they're
learning about them and they'regoing to forget about you
because they're digging deepinto that content.
So they have to have that, whichmakes me think of the marketing
materials that people put out.
Some of it can be veryeffective, some of it isn't, but
(36:52):
I would think that getting whenthey get to know the people, it
could be the founders or allthe people.
That creates a human connectionand they feel like they know
you and then they look forwardto I oh, I actually find I'm
going to get to meet red.
Like this is cool, you know,like it means something versus
just our CEO, which I don't knowthat that might feel like
(37:16):
meeting the CEO where you'recurrently working, which may or
may not be a good experience,but meeting red, well, I've seen
him on video, I've listened tohim.
I like this guy, yeah.
So what do you think are themarketing materials they should
do and which ones aren'tnecessarily getting them the the
bang for their bucks?
Like, where should they puttheir attention?
Red Boswell (IFPG) (37:36):
Video is stronger than ever.
We're in a video world now,right, and short, sweet video
snippets.
I know this is a probably 30,40 minute interview, you and I,
but you're going to make it in awhole bunch of little snippets,
right?
You're going to cut it out andparse it and folks are a lot
more likely to watch that 30second to two minute versus the
20 or 40 minute.
So a bunch of great littlesnippets, testimonials in
(38:00):
written form and video.
Certainly it can be a powerful,powerful tool.
Have your YouTube channel, haveyour little Instagram, have
your TikTok, maybe have yourLinkedIn.
Have all those and don't justpost once a year.
Keep it up to date.
Most doors are not social mediafreaks like I am, and so get
somebody that loves that, thatgets you, gets your brand, and
(38:22):
get them not just postinggeneric stuff that people can
see through.
Some cold PR firm up in Biloxior wherever Biloxi ain't up, but
anyway, some PR firm thatdoesn't live my brand, day in,
day out, grabbed some stockphotos and posted something
generic about being business foryourself, but not by yourself.
With us, you know.
Make it real.
(38:42):
I mean, I am so committed toauthenticity and this world now
is as well, they can see throughit.
And you know I post stuff.
I'll do one take, post it.
I don't even have captions NowI'd probably get a few more
views with the captions, but Ijust want it real raw and they
(39:02):
see the passion, they see thelove, they see your brand as it
is and they know this guy reallyjust did that on one take.
You can just tell becausethere's little funny bloopers
mixed in.
So I just love the authenticityand to your point, video is
number one and the authenticityof the video of the interview,
of the testimonial, of the liveat an event can make a huge
(39:25):
difference.
And, lance, if I may go back fora second, you mentioned some
mistakes Franchisers are making.
I'll give you three quick onesLow franchise fee Get that
franchise fee up there.
Stop being wimpy and saying, oh, we're new, we got to have it
low.
It's ridiculous, it'sembarrassing, it's a life
decision.
Get it up there.
You got a lot to pay for.
You ain't going to lose a dealover a $20,000 franchise fee
increase.
Number two underfundedFranchisors is going to take you
(39:48):
a lot more money, a lot moretime than you ever imagined.
You've got to be funded well oryou're going to crash and burn.
And number three that came tomind just wrote down resales.
Have a resale program.
Now you're brand new.
You don't have, you're notgoing to have resales for a long
time.
Get a resale program A to Z,everything about it.
Who's obligated to whatCommissions?
From the seller to theconsultant?
Can a franchisee sell acandidate in validation?
(40:11):
Their franchise man?
It happens a lot.
A candidate's in validation.
They're doing validation with aZ.
Z says buy my franchise, okay,what does that Z have to pay the
ZOR?
What's their financialobligations?
Or, more importantly, to theconsultant Can they even do that
at all?
So just get that documentedfrom day one in the office
manuals in your training.
Remind them of it.
Often those three things arehuge.
(40:33):
I deal with them almost daily,those three, and if you can get
those three handled you'rehalfway there to overcoming a
lot of mistakes franchise ZORsmake early on.
Lance Hood (FranPro) (40:42):
Absolutely Red.
You're a fountain of wisdom.
Red Boswell (IFPG) (40:46):
Tell my wife .
Lance Hood (FranPro) (40:49):
Next event , all right.
Well, I appreciate you and Ijust wanted to thank you for
your insights and these kind ofprocesses and steps that you've
shared with us.
And I would tell anybody ifyou're looking to have
consultants help you with yourfranchise business or looking to
be a consultant, go to thislink https://Franpro.
vip/GoIFPG.
(41:14):
They're well known, hugecompany.
Awesome, thanks, red.
Red Boswell (IFPG) (41:19):
You're awesome, lance.
Appreciate everybody on here.
Franchise is a wonderfulindustry.
Lance is a great, greatconsultant and we'd be honored
to help get you clarity on thismodel, help you figure out if
IFPG is the right fit for youand what you want to accomplish.
Let's go do it.
Thanks, lance.
Lance Hood (FranPro) (41:33):
Thanks.
Welcome everyone.
Today we have Red Boswell fromIFPG.
Red, welcome to the call.
Red Boswell (IFPG) (00:07):
Thanks, lance, excited to be here.
I have no idea what we're goingto talk about other than
franchising, so ready to rock it.
Lance Hood (FranPro) (00:14):
Well, really quick for anybody who's
not familiar with IFPG, can youtake a couple minutes and just
share?
Red Boswell (IFPG) (00:20):
You bet.
International FranchiseProfessionals Group.
We're best known as the world'slargest consultant or broker
group.
We work with hundreds andhundreds of franchisors and
hundreds of consultants, as wellas vendors to the industry.
So we really connect folks,connect franchise professionals,
mostly doing deals, changinglives, making some income in the
process, and connecting vendorswith franchisors, connecting
(00:42):
zores with consultants.
We're a big connectionorganization.
And then we own some otherancillary support services, like
the one of the largest newsnetworks in franchise, franchise
wire.
We own career transition leads,nurture assist, so anything
really in franchising.
We support and connect and helpfolks with.
Lance Hood (FranPro) (01:02):
Nice.
Well, I thought you know whatwould be good today with all
your experience, because you'veactually, before IFPG, you were
actually on the franchiseoarside, so you have a lot of
experience, a lot ofintelligence.
What do you think?
You know?
I do, I know you.
So what do you think about?
What can franchise oars do tobest utilize a network?
(01:24):
Because here's what I've seenwhen you're new and you go in
and you start utilizing anetwork, just because you're
part of a network doesn't meanyou're going to get any traction
.
You actually have to connectwith the brands.
You have to have, you have tobe able to be presentable.
What are all those things thatthey should think about?
Red Boswell (IFPG) (01:43):
Love it and guys in the audience, ladies
when he says network, that's theindustry.
There's a lot of terms for whatwe do, primarily what we do.
The industry franchising callsus brokers.
We prefer consultant, advisor,matchmaker, coach, lots of great
terms.
We do so much more than justbroker a deal.
(02:04):
It's a very much an education,educational relationship,
matchmaking, handholding,introducing a lot of things.
These hundreds and hundreds ofconsultants do to support the
franchise oars and theircandidates.
So to your point, lance, yeahboy, that could be a whole
segment itself.
Franchise oars oftentimes willjoin a consultant referral group
(02:28):
like us and they sit back andbring it on babies, come on, I'm
ready.
They treat us like I don't know, like they're advertising in
the Wall Street Journal theydon't realize this is.
Or a paper click where theyjust turn it on.
The leads flow.
Now the leads are crap as crapcan come, but the leads flow
with consultant groups, referralgroups, broker groups.
(02:49):
It's a long term play, it's arelationship and relationships
don't happen overnight.
Loose, mostly right.
So they get to get know you,the consultants know you, the
Zor get to know you, thefranchise development rep
representing that franchise, orthey get to lack you.
They ultimately get to trustyou and then that's when the
(03:12):
magic really starts to happen.
And so that's a big, high levelanswer to your question.
What is Zor's doing incorrectlywhen they're working with
referral consultant groups?
Well, they're just not treatingit like a long term
relationship business.
They're joining it and notdiving in, not participating in
the webinars, participating inall the many, many, many ways,
(03:36):
especially the IPG Many ways toget your brand noticed and I'm
not talking get your brandnoticed to the, to the consumer.
I can get your brand noticedand ultimately get the
consultant to fall in love withyou.
You the franchise developmentrep, you the franchise or
opportunity.
Because when that happens,magic happen, lives are changed
(03:57):
and that it really scalesquickly.
The community talks, the wordspreads that you're a legit,
awesome opportunity withincredible franchise development
rep who knows how to frickingfrack behind the scenes, who
knows how to follow up quickly,to communicate well and
ultimately award franchises.
You might call them closeddeals, but it's a mutual
awarding process, so treating itlike a true long term
(04:21):
relationship will make all thedifference in the world for that
franchise or Right, because youthink you know if you hire an
internal sales team, they'rethere every day working for you.
Lance Hood (FranPro) (04:32):
You know if you buy leads, they just show
up.
When you work through a grouplike this, what happens is is
they are assessing you to makesure that they're not sending
their clients to a company thatis going to be a bad opportunity
for them.
They're assessing you to makesure that you have the ability
to actually award and closefranchisees, versus just receive
(04:56):
leads and they they fall on theground and turn to nothing.
And also you have relationshipissues where they have to
actually enjoy working with youand like you and all that stuff
comes together.
And then the I think the fourththing would kind of be that
they have to have exposure, theyhave to know that you exist and
get to know you, and then youreally don't need a ton of them
(05:18):
because a few solid brokers canfill your pipeline pretty good.
So can you kind of speak onthose things?
Red Boswell (IFPG) (05:28):
Yeah, brother.
So an analogy I love is whenyou've got a franchise
opportunity and then you havethe franchise development rep.
That's representing thatopportunity.
Might be in house, might be outof house, they're still
representing that opportunity.
They're handling therelationship with that new
candidate, wherever thecandidate came from, and taking
them through the discoveryprocess ultimately to a change
(05:49):
life by awarding that franchiseRight.
So the consultant is out thereinvesting their, their
livelihood, their blood, sweatand tears, their life savings.
They're investing that intofinding great leads.
They're educating those leads.
They're building rapport,building that trusted advisor
relationship with that lead,getting to know them, asking
(06:09):
lots of questions, schedulingmultiple calls, narrowing down
the search significantly talkingto them about sort of during
that narrowing down andultimately narrowing it from 600
plus in our case a franchiseopportunities, and really we IPG
have vetted thousands down tothat 600.
Now the consultant is doing itdown, down, down big process,
(06:30):
helping that candidate reallyfind the right opportunity, not
just an okay one but the idealopportunity.
And so, as they narrow it down,the consultant with the
candidates assistance it.
You know this is a half apercent of the ones we've added.
This is a very tight narrowingdown.
Well, part of that narrowingdown is that consultant needs to
(06:51):
really trust the, not just thebrand, but the friend dev wrap
we've talked about that a momentago, but I just harping on it
again.
And so an analogy, I think,makes a lot of senses.
If you're a parent and you'vegot your baby but there's
nothing more important than theworld, than your baby you give
your life for that baby, right,in many ways that consultants
(07:11):
candidate that they have reallybuilt, built, built a trusted
advisor relationship.
That's the baby, that's thatconsultants, baby man.
Thousands of dollars and tonsof time have gone into that one
that can candidate.
Well, the franchise, or is youknow, if you got a baby you're
looking for?
Occasionally you got to go on adate with your, with your
spouse, and so you need ababysitter.
(07:32):
Well, who you got to trust?
Who are you going to trust withyour baby, right?
So you're going to vet that,that, that babysitter, big time.
Now, maybe you taking your babyto the babysitter's house,
right?
That's how it happens.
Sometimes they come to you onthis analogy you're taking to
their house.
To me, the house is thefranchisor.
(07:53):
That house gotta be safe foryour baby House.
Gotta be in a good neighborhoodfor your baby to be safe.
Right, that's important.
But you know what's moreimportant?
French has development rep whois gonna be dealing with taking
care of, feeding, watching mybaby?
And that French has developmentrep, whether it's in house,
whether it's outsourced to anFSO, whoever it is, they better
(08:13):
be the best in the world.
I'm not selling for second best.
This is gonna be my livelihood,my candidate's livelihood.
I gotta know they're the best.
And so more important than thehouse, aka franchise or
opportunity is the franchisedevelopment rep.
They gotta be on their A game.
Ain't nobody got me gonna trustmy baby with than the very best
(08:33):
.
And so, to your point, lance, toanswer your question and
numerous questions mixed inthere, it's all about really
diving in.
The ZOR has to be fullycommitted and they have to have
a franchise development rep thatis fully committed to our
industry and to the consultants,and you do that in so many ways
.
I mean, ultimately, thatfranchise development rep should
get with the consultant group,such as IPG, and ask them one on
(08:57):
one what can I do more, how canI do it better?
And they'll look at the profile.
You got some good downloads theconsultant can share.
Have you identified the idealcandidate profile that the
consultant can share?
Are you registered for theirannual conference or bi-annual
conference?
Are you getting your livewebinar done?
Do you have some videos thatthey can watch and learn more
about it?
Some.
Do you have a?
(09:19):
How many?
Are you updating itperiodically?
We got brands that have oldcontact.
Are you offering semi absenteeand are you communicating what
the qualifications are for asemi absentee Cause?
There's a lot of deals happenin the semi absentee world.
I can go on and on, lance, butI know it's a long answer to
multiple questions.
But it's really committing toit and being all in it on a
(09:41):
daily basis and not treating itlike any other lead source.
You'll succeed over time and itwill build and build and build,
and two, three, four years fromnow you won't even recognize
the organization you've builtbecause of your relationships.
You've planted seeds in three,two, four years ago with the
consultants.
Lance Hood (FranPro) (09:59):
Absolutely .
You know, I see some, there'ssome companies that you have
such a good I would say you havea good relationship with them
because that's built on trust,but also they just seem like a
great opportunity for yourclients and they handle things
professionally.
And the big thing I thinkyou'll hear through this whole
series is communication and onelike an example I had just
(10:21):
recently.
I took a great clientwell-funded, high level clients,
introduced him to a big brandand I got busy working on this
event here and I wasn't payingattention.
I was like I haven't heardanything.
So I contacted them after threeweeks saying hey, I have
(10:43):
franchise or which.
Yet in a major franchise or, andI contacted them after three
weeks and I'm like, hey, Ihaven't heard anything.
I can't find anything in myemail on what step they are in
the process, where they're at,what's left to do.
You know timelines, and theyjust said we need to reschedule
them for this meeting.
Well, I don't even know whatthat meeting is, and that was
(11:04):
the whole answer and they weredone.
And so I said something backand I hadn't heard from them
again in three weeks and I said,hey, it's been six weeks.
I only heard from you because Icontacted you and what's going
on.
And they gave me a one lineanswer again, whoa.
And then so I just fired backwith like a bunch of questions,
getting details, like well,they're gonna probably close
(11:25):
this month and I'm like what'sthe date and what's remaining on
the list?
And part of it was we just needto redisclose them and I'm like
, well, that takes two weeks.
Like, oh my gosh, so anyway, soyou think about me with that
relate with that franchise orit's a big company, you know
they're they, they have decentnumbers, but I can't work with
(11:46):
those reps because they're justI don't know if they pay their
people more for organic leadsversus referrals, you know or
what, but they were.
They're just no communication.
So those are things that peopledon't realize, because you as
the franchise so don't realizewhat your team is doing when
you're not around and that couldbe hurting you within the
(12:09):
groups and you don't even knowwhat's happening.
But that's genuinely when thathappened.
And then everybody talks right,so people know this is
happening.
Red Boswell (IFPG) (12:18):
They talk and there's ways to consultants.
At least with an IPG system youcan see in real time anytime
the consultant can and thefranchise or can, the average
response time to a territorycheck?
That's.
That's very telling.
That's front end of thepipeline.
How engaged are they?
How quickly do they respond toterritory check?
Sure, he's going to have someoutliers that hurt your average
(12:39):
a little, but you get a hundred,200, 500 territory checks in a
year through IPG alone, maybe1500 in some cases.
You're going to have some easynumbers that the consultants can
see how engaged you are.
Also, we've got reviews.
Consultants not only talkamongst themselves but in a more
mass setting.
Every ZOR has reviews at thebottom of their company profile
(12:59):
that the consultants can add tofive star, three star, two star.
Why explain it?
And you know, be gloating, beproud of them or tell hey, run
away from these guys.
They're clueless, they don'tknow how to fricking frack,
meaning communicate behind thescenes of how it's going so
critical to success.
Lance Hood (FranPro) (13:20):
Yeah, if you're not going to communicate,
don't think they're going tobring you more of those leads.
You know, because they, becausethat lead to a consultant is
one, two, three months incomeand they have expenses behind
that, you know, and they need.
By the time they brought themto you, they've nailed it down
to usually, or you know maybeone company and so this is their
(13:41):
.
You know, this is their shot,so they're expecting you to take
good care of it.
They've spent the you know timeto really whittle them down.
Red Boswell (IFPG) (13:49):
Yeah, and two things to note.
Too oftentimes it's threecompanies so that if you're not
doing your job, no problem.
We got two more that they'reworking it right.
And the consultant is typicallychecking in having that ongoing
cadence on a weekly basis giveor take with their candidates.
So you know things aren'thappening in that first week.
Second week, don't move it on.
You know you got to be on it.
(14:10):
The consultant is working withthe candidate, still holding
their hand, massaging this dealall the way to completion.
Lance Hood (FranPro) (14:17):
Yeah, you know I don't have a complete
list here, but you know,definitely one of the things is
you appreciate the companiesthat will give you an email at
each step or after eachcommunication, like you get
synopsis.
That creates trust and thenwhat they don't realize is it's.
It might seem like a handoff,but on our side we still have to
(14:38):
keep the franchise or theclient and the lender all
communicating and all on thesame page with dates and
timelines and handle things, andwe might get objections that
you don't get and we can'tassist you or help if there's no
communication or slowcommunication.
Red Boswell (IFPG) (14:57):
Yeah, you are that trusted advisor in the
relationship.
If the franchise or is notutilizing you to your fullest
potential, they're going to begone.
They're not going to get anymore deals.
And also, you mentioned thatemail.
We train our franchise or's andthey don't always listen.
But and the consultants ask theconsultant how they want to be
communicated with.
Maybe it's a text, maybe it's aphone call, maybe it is an
(15:22):
email.
And then, lastly, on thatcommunication part, regarding
Frick and Frack in the IPGsystem, we have a deal tracker
where the Zor can update thelead, the candidate in the
process, where they don't haveto text email or phone call to
the consultant unless there'ssomething more thorough they
need to discuss, and it tracksevery candidate and where they
(15:45):
are in the discovery processwith each franchise or what
makes it beautiful?
Great, great simple tool andmap visual to understand where
every candidate is with everyfranchise or.
We love it, the consultantslove it, the Zor's love it.
It makes their company and theprocess run more efficiently,
(16:05):
saving time and money, andeverybody wins.
Lance Hood (FranPro) (16:08):
Absolutely .
Well, if you were to go througha list of you know the things
that you think from all thesethings, from you know how they
interact let's just talk abouthow they interact with the
brokers what would be the toplist of things you think that
franchise, or should make surethey do, with brokers?
Red Boswell (IFPG) (16:26):
Wow, I should have you know.
I love that these are impromptuquestions.
But let's see Number one.
Have your company profile allthe way rocking.
I mean everything I mentionedearlier from the ideal candidate
profile.
So many Zores don't reallyexplain who you're looking for.
I mean, help us throw us a bonehere.
Who are you looking for?
(16:47):
The response is the territorychecks, the downloads, the
videos, the item seven heck,item 19.
Give all the information youpossibly can in your company
profile to make you anattractive opportunity.
Don't make the consultant callyou.
Don't make them go to extrawork.
They're going to just pass onyou.
Make it easy and show that youknow what you're doing.
Next, be fully involved,engaged, as we mentioned.
(17:09):
Have a quick response toterritory checks.
Are you getting an email or areyou getting a text in an email
on your territory checks?
That text, as we all know, getsresponded to a lot quicker than
an email and then you've fallenup with them properly.
And that response to aterritory check, are you just
saying available, send, beinglazy Maybe you're going fast but
lazy or are you responding withenthusiasm, personalization?
(17:34):
Give them a reason orammunition to show you.
Don't just say it's available,say yeah, it's available.
Our top franchisee is acrosstown.
They're doing this.
That here's my phone number.
Let's talk, show enthusiasm,personalization and a reason to
show you when you respond tothose territory checks.
We're known as the territorycheck organization.
We've got an easy TC tool.
(17:55):
Consultants utilize it,incredibly.
But then I get Zors go rad.
I'm getting all these territorychecks, I'm not getting
registration, I'm not gettingcandidates introduced, what's
the deal?
And then we talk through well,what percentage of them are
getting done?
Here's why Are you respondingquickly?
And then I go through what wejust talked about.
Give them a lot more bestpractices.
Here's an analogy I use withthem is a territory check.
(18:18):
From a franchise consultant tothe franchise, or checking to
see if an area is available islike when you're single and
you're at the church or at thebar.
You're at wherever you meet theperson you're interested in
meeting.
You see a cutie or something.
You walk up to them, tap themon the shoulder and go how you
doing.
Give them that Joey Terabianithere.
(18:40):
That's kind of like a territorycheck.
It's an at-bat.
You're checking to see how theinterest is and if there's
availability.
Well, if that franchise or AKAthe person you just tapped on
the shoulder, sits there for 10seconds, that's 10 hours on a
territory check.
It's torture.
And then he turned around andgo, I'm good.
And then go back around, that'ssaying available, sent, zors do
(19:07):
it every second of our day,pretty much Available, sent 10
hours later.
Man, you tap on somebody'sshoulder, say wait 10 seconds,
say yeah, I'm good, and turnback around.
You are gone.
And so they turn around quickly, smile hey, you hand out.
How are you?
You come here often, where areyou from?
What's your name?
That is a responsive territorycheck with enthusiasm,
(19:27):
personalization and a reason tokeep talking to me.
So take advantage of thoseterritory checks, follow up with
them, get that phone number, etcetera.
So a big one is having your acttogether, your opportunity,
well presented, responding,engaged and with the consultant.
And then to your point thatwe've been talking about get
(19:50):
that fricking frack on fire withcommunicating back and forth
nonstop to move this candidateto a whole new life with that
franchise or Yep, I agree withyou.
Lance Hood (FranPro) (19:59):
I think it's about being a team versus
thinking of it as a handoff.
And there's some zores thatyou're just like.
They're treating them like freeleads, like this is this is
client, is my baby, and it'sjust treated like free leads
that don't matter so, and youknow what.
Red Boswell (IFPG) (20:18):
I tell you what, dude I apologize for
interrupting.
Can consultants do it too?
Those consultants who justhanded off and wait for?
Give me the money.
Where's my money?
No man, this is partnership,it's two way street.
You follow up with them.
Give me updates.
I'm waiting for your update.
I'm giving you updates back andforth.
Equal, fricking, frack, it'snot frick.
It's not frack, it's frick andfrack, you know.
(20:38):
So we got to get get it workingtogether in that three way
relationship.
Lance Hood (FranPro) (20:42):
So it makes it fricking amazing.
Yeah, exactly, but.
But you're right, the bettercommunication you just have,
you'll close more deals andyou'll create more of a
friendship.
If you want a relationship withthe broker, that's how you do
it.
What when?
When I like saying, fill outall the details about the
company and have all thosepromotional pieces, because
(21:04):
sometimes you're looking atthings in the middle of the
night, you can't talk withanybody, you're just doing your
research, and sometimes you'resending a territory check like
10 minutes before presenting,because you're like you know
what?
What about this last company?
Maybe I'll introduce this lastcompany.
So that's why that that lastminute thing is like whether
you're in or out, just becauseit was a whimsical thing, maybe
I'll add these guys, you know,yeah yeah, and that ideal
(21:26):
candidate profile.
Red Boswell (IFPG) (21:28):
So many Zores just go oh, I mean, we
take anybody, you know that.
Give me something really tight,like there's a a lot of senior
care.
I still remember three yearsago.
I'm reading their profile and Isee ideal candidate and they
give the usual must, follow up,proven system for success and be
coach.
Of all the platitudes you seeon every franchise.
But then they said if yourcandidate has ever been in
(21:51):
pharmaceutical sales, pleasesend them to us.
I'm like dude, laser, laserfocused.
They know their ideal candidate.
I called up Marcos over therelike dude, where did you get
that?
What did that come from?
He goes we had a couple offranchisees come in.
Both of them, coincidentally,had pharmaceutical cells.
They killed it.
We realized they've got thatprofile.
The training they go through toget to that successful
(22:13):
pharmaceutical sales career isideal to who we're looking for.
And he said, boom, we startedlooking, marketing, targeting
pharmaceutical sales reps.
It's been golden.
Half our franchisees have apharmaceutical sales rep
background.
I was like, oh, I love this.
Now I don't expect every Zoreto have that much of a laser
focused definition of idealcandidate, but the more you can
(22:33):
give the consultant to help themfind the ideal candidate for
you, the better.
Lance Hood (FranPro) (22:39):
Exactly.
I appreciate that because thathelps me when I'm working with
clients to get an idea thatmaybe I should discuss this for
sure.
What are some things reallyquick that a franchisee or
should have about themselves?
There's two things that I'mthinking about.
There you have the salesprocess right, because
(23:01):
established systems have a veryorganized sales process.
New companies sometimes arelike let's just talk it out,
I'll just answer their questions, give them a five minute spiel
and they're going to buy this$250,000 franchise.
So sales question questions andthen questions about what makes
them look really good.
(23:22):
So picking the first of whatmakes a franchise look really
good to a broker and a client.
Red Boswell (IFPG) (23:28):
And item 19, .
Tell you what a lot of Zoresthey talk to I might not have an
item, I don't have a team.
Ask them why.
And they say, oh, the attorneysaid all we have is corporate
locations.
We can't really have one.
Go get you a new attorney, geta second opinion.
Give me a break here.
You can't have item 19 numbersbecause they're corporate units.
Whatever you want disclosure,how do you even talk about
(23:50):
financial performancerepresentations without an item
19?
You can't.
And what buyer is going toinvest in an opportunity without
some insights in that?
Now, sure, you can go throughvalidation, but a lot of them
aren't going to get to thevalidation stage with the
current Zs without item 19numbers.
Now you may be saying, yeah,red, but you just said in that
scenario they don't have anydisease, it's all corporate
(24:12):
units.
You can still talk to themanagers at those locations.
You can talk to people in theprocess that have no financial
gain with you buying thatfranchise.
You can disclose as afranchisor numbers in the
corporate units.
So an item 19 is so importantthese days as 80 plus percent of
growing franchisors probably 95percent of growing franchisors
(24:35):
have an item 19.
And the consultants would loveto have some insights into it as
well.
What else can they do?
That's best practices in theprocess of communication.
A defining a semi absentee modelhelp, more insight.
So many great buyers areinterested in more of a semi
(24:57):
absentee building a lifestyle.
Maybe they're high levelexecutives not gonna leave that
income.
Do you accept it?
When do you accept it?
How do you accept it?
Do they have to have a managerup front?
Does the manager have to haveequity?
Do you train the manager?
Do they?
Still?
The buyer has still have to beinvolved at least 20 hours a
week.
Really clearly defined semiabsentee can help immensely.
(25:20):
And then there's been changeswith the SBA registry and how
that's working.
But still make lending as easyas possible with documented back
to the item 19,.
Documented item 19 and haveeverything you need so that the
SBA, the banks, can make itsimple and clear for deals to
(25:43):
get done faster, easier, causewe know time kills deals.
Another one, lance, is a visualvisual of your discovery process
.
Hey, you got eight steps.
Awesome, let's get a clearvisual.
Half the world are visualpeople.
You can tell them the steps,watch, wrap, bomb.
Give them a visual, remind themof it on every call.
You're booking every callduring this call.
(26:03):
Right, this call I'm gonna bookthe next one.
So you're booking that.
These are some fundamental salessuccess factors here best
practices, and we all mosteverybody hates the word sale.
They like to buy but they don'twant to be sold, right?
Well, we are a trusted advisor,but there are simple principles
in the trusted advisorrelationship that any good
salesperson follows as well.
(26:25):
So, whether you call yourself asalesperson, you admit it or
not, you have some principlesthat you need to follow.
One is booking a call, the nextcall.
On this call, showing themwhere they are in the process on
every call, we're gonna be atthis step.
Next call and communicatingthat Frickin' Frack three way
back and forth.
Being at the retreat, the annualconference, being at regionals,
(26:48):
getting in their magazine,doing audio podcasts, video
podcasts, following the systemsand utilizing the marketing
pieces that the consultantreferral group utilizes and
offers to you can make a hugedifference too.
How are they gonna get to knowyou?
How's the consultant gonna getto know you lack you trust you
if you're not doing things toget them to know you lack you
(27:08):
trust you?
So, providing them those toolsand resources, but also getting
out there shaking the hands,flesh to flesh, breaking bread
and building the relationshipsof trust.
I say every regional discoverymixture that we have we have six
to eight of them a year I sayevery time this is where deals
start, this is where the dealsbegan.
Wait, what are you mean, red?
(27:29):
We're just having lunch, we'rehaving dinner, we're having
drinks, we're doing speednetworking, we're visiting some
locations.
Yeah, none of those deals.
Three months, six months, 10months, none of those deals are
gonna happen had this nothappened.
First, the relationshipbuilding and the understanding
of the opportunities.
So I know I'm giving you a lotof answers here to a complex
question, but it really is acomplex issue that, when done
(27:51):
right, can be absolute gold forthe consultant for the ZOR, for
the candidate for the community.
Lance Hood (FranPro) (27:57):
Absolutely from being at those types of
events.
I can tell you that that'sabsolutely where you start
seeing the franchise reps andthe franchise Ores as your
friends and you start to you getto know them and then you're
like, when you talk with yourclients, you're like oh, I know
these guys, they're great.
Like you know them not, versusthey're just answering questions
(28:20):
for you.
Red Boswell (IFPG) (28:21):
Dude, how do you think I got this job, my
calling here with IFPG or andI've been here over four years
as president I was a franchisedevelopment rep.
I was a franchise over for that,but I was a rep probably eight
years working with all theconsultant groups all over and I
got this reputation forreliability, good communicator,
friendly guy, likeable character, good leader.
(28:44):
He knows franchise, he knowsour world, good fricking fracker
.
I built that relationship andthen when I left a franchise ZOR
, I had two of the top groups inthe world contact me.
Hey, we wanna talk to you aboutcoming on board with us and
being our president.
I wasn't even trying.
I was gonna be on this ZOR sideforever but because I did what
you just said, lance, followingthrough on every piece of the
(29:05):
puzzle, built that reputationthat I didn't even know they
were watching me so closely andultimately blessed with this
amazing career that I've builtnow building IFPG to well.
We've 10X'd our size andprofitability in four years
because of people see we careand we've got the best
(29:26):
consultants out there because ofour model.
Lance Hood (FranPro) (29:29):
Well, do you have time for another
question?
Red Boswell (IFPG) (29:33):
Let's bring it on, buddy.
I'm all over it.
Yeah, this is fine.
Lance Hood (FranPro) (29:36):
So, with the sales process, we talked
about that earlier, and thefunny thing that you brought up
that I wanted to bring up isthat you talked about people
having to have an item 19.
I have worked with a lot ofclients.
I've never once had a clientsay Lance, I have a ton of money
, I don't care if this thingmakes any money, I just need to
(29:58):
spend it.
And quick.
It doesn't happen.
No, no, they're looking for aninvestment and in some cases
this is a career that, if itfalls apart, everything falls
apart for them.
And so the biggest thing is isthis going to pay my monthly
bills and is it going toactually crumble or is it going
to stay in business?
And so what you're saying isthey do have to focus on having
(30:22):
a way to focus on their item 19,because that's the core, that's
what people are buying, and soif you're not ready to present
that, or if your numbers are notgood, you need to go back to
home and fix it there and thenbring it out.
You can't keep sellingsomething that's limping along.
You have to make it.
If you make something amazing,it'll sell itself.
Red Boswell (IFPG) (30:45):
Yeah, yeah.
And the extension of that,lance, is so many Zores feel
like they've got the greatestopportunity in the world,
greatest opportunity sincesliced bread.
This thing is going to takeover the world.
They love it.
They love their baby and theirbaby is the most beautiful thing
you've ever seen.
Now I may think that baby is adog, but they, their baby, is
golden right.
They think they're just goingto.
(31:05):
People are just going to belining up and buying it.
They've got to.
In the Bible it says when youget married, you leave your
family, your parents, and youcleave to your spouse.
Leave and cleave and I use thatanalogy with Azor.
They talk to these emergingZores all day long.
And they're going to keeprunning their local original
business and they're going totry to be a franchise or heck,
(31:26):
they may even try to be thefranchise development rep on top
of that lunacy.
I I did that starting out, butat least I knew I couldn't run
my original business and be afranchise.
Or you got to leave thatbusiness and you can still own
it.
You got to get some full-timemanagement all day long.
You are a Zore.
This is not just your mistress,this is your new family and
(31:46):
it's going to be a hundred timesbigger than that original
business.
But it needs your full-timeattention, and to the next level
.
You can't be a franchisedevelopment rep and run the
entire franchise or organizationto separate roles.
So get some great somebodygreat in the franchise
development role that knowstheir stuff inside, that not
just your, your, your neighbor,your used car salesman, your
(32:07):
cousin Eddie.
Get somebody who really knowsfranchising inside now that has
a reputation.
You can ride their coattails oftheir reputation within the
consultant community especiallyto a faster success rate than
just learning as you go andburning leads left and right and
developing a bad reputation inthe process.
Lance Hood (FranPro) (32:24):
Right, Because also they might have all
those relationships that we'vealready talked about established
and on day one they get theirhead wrapped around your
business and they can run.
Red Boswell (IFPG) (32:34):
Yeah, those guys aren't cheap, you know
there's.
I say often there's nothingmore expensive than a cheap
attorney, there's nothing moreexpensive than a cheap CPA and
in many ways guys, there'snothing more expensive than a
cheap franchise development rep.
Hey, for a good one you'regoing to get good results, as
long as you got a good model.
And the good ones know ifyou've got a good model, though.
Lance Hood (FranPro) (32:53):
From your experience as a franchise or and
from a consultant group andeverything that you've done.
What is?
What is a good basic framework?
Cause it's going to be tweakedand different with different
companies, but what's a goodbasic framework to follow for a
sales process or awardingprocess for a franchise?
Red Boswell (IFPG) (33:13):
You know people, uh, time is of the
essence more than ever and the?
Uh access to information isthat at all time, high right
With the, the Amazons of theworld.
So so many candidates andsocial media and everything else
.
So many candidates areresearching everything.
Well, before they talk to you,they're like I don't want to
talk to some sales guy, andguess what?
(33:35):
20 years ago, hey, we, we ownthis process.
Here's my info.
Oh, let's have a call.
Before I give you my brochure,you need to fill this form out
before we talk.
More than 10 minutes.
Guess what?
The candidate, the consumer, isin control more than ever.
So you can deny it, you canfind it and you will fail.
(33:56):
So get them as much info thevideos, the social media, the
just tons and tons of info.
Well, guess what?
If you're not providing thatinfo, someone else is, and
they're probably yourcompetition.
Find as much videos and contentand excitement and interest and
visuals, everything possibleout there in all the different
(34:17):
media that you can, because thecandidate is researching it
prior to ever talking to you.
And then, once they talk to you, guess what?
Because you've done it properly, because you've educated on
properly, whether they came froma consultant or not.
Now they're going to go throughthe process faster.
They're going to likely be muchmore qualified because you've
weeded out through your clearcommunication before they ever
(34:40):
talk to you.
You've weeded out folks whodon't meet that criteria because
you've communicated the propercriteria and they are more
engaged, more in love and againclose faster.
They're going to be betterfranchisees.
So, clearly, providing so muchcommunication beforehand and
then, once they're in theprocess, again book the next
call on this call so you're notchasing them.
(35:02):
Give them homework on everycall.
Give the fricking frack.
Tell the consultant if it'sfrom a consultant what the
homework was so they can holdthem accountable.
Money's call Just be on yourA-game man.
Don't treat this like so manyzores.
Just don't follow up.
They don't respond.
They don't.
Fricking frack, I mean we're abroken record on this call.
(35:22):
But if you're engaged with thecommunication up front during
after, it's going to be a morefun life.
You're going to get bettercandidates, better Zs, more
profitable, make more money,have more fun.
It's going to be greatestcareer in the world for the
right folks.
Or it can just be a miserablefailure for folks who aren't
really following, communicatingand providing the right content.
Lance Hood (FranPro) (35:43):
Absolutely .
You know you talked about, youknow it can be a miserable
failure.
I would think, as a franchiseowner, when you're first getting
started, that's when you havethe most money right.
The longer your franchisedevelopment goes and you're not
bringing on franchisees, you'rebeing drained.
So you got to make gooddecisions up front, not not not
(36:06):
have a long learning curve.
So listening to information likethis can help you take action
and get results while you'restill in a good place, versus
getting fed up, and I thinkyou're right, as is they don't
want to be wearing all hats youhave.
You know you have to do this andand that motto, thought of
exposure, having exposure tofind franchisees is good, but
(36:29):
access to you, I think, is evenbetter because, like you said,
is they're going to start doingtheir research and if they have
access to even one other guy andno access to you, they're
learning about them and they'regoing to forget about you
because they're digging deepinto that content.
So they have to have that, whichmakes me think of the marketing
materials that people put out.
Some of it can be veryeffective, some of it isn't, but
(36:52):
I would think that getting whenthey get to know the people, it
could be the founders or allthe people.
That creates a human connectionand they feel like they know
you and then they look forwardto I oh, I actually find I'm
going to get to meet red.
Like this is cool, you know,like it means something versus
just our CEO, which I don't knowthat that might feel like
(37:16):
meeting the CEO where you'recurrently working, which may or
may not be a good experience,but meeting red, well, I've seen
him on video, I've listened tohim.
I like this guy, yeah.
So what do you think are themarketing materials they should
do and which ones aren'tnecessarily getting them the the
bang for their bucks?
Like, where should they puttheir attention?
Red Boswell (IFPG) (37:36):
Video is stronger than ever.
We're in a video world now,right, and short, sweet video
snippets.
I know this is a probably 30,40 minute interview, you and I,
but you're going to make it in awhole bunch of little snippets,
right?
You're going to cut it out andparse it and folks are a lot
more likely to watch that 30second to two minute versus the
20 or 40 minute.
So a bunch of great littlesnippets, testimonials in
(38:00):
written form and video.
Certainly it can be a powerful,powerful tool.
Have your YouTube channel, haveyour little Instagram, have
your TikTok, maybe have yourLinkedIn.
Have all those and don't justpost once a year.
Keep it up to date.
Most doors are not social mediafreaks like I am, and so get
somebody that loves that, thatgets you, gets your brand, and
(38:22):
get them not just postinggeneric stuff that people can
see through.
Some cold PR firm up in Biloxior wherever Biloxi ain't up, but
anyway, some PR firm thatdoesn't live my brand, day in,
day out, grabbed some stockphotos and posted something
generic about being business foryourself, but not by yourself.
With us, you know.
Make it real.
(38:42):
I mean, I am so committed toauthenticity and this world now
is as well, they can see throughit.
And you know I post stuff.
I'll do one take, post it.
I don't even have captions NowI'd probably get a few more
views with the captions, but Ijust want it real raw and they
(39:02):
see the passion, they see thelove, they see your brand as it
is and they know this guy reallyjust did that on one take.
You can just tell becausethere's little funny bloopers
mixed in.
So I just love the authenticityand to your point, video is
number one and the authenticityof the video of the interview,
of the testimonial, of the liveat an event can make a huge
(39:25):
difference.
And, lance, if I may go back fora second, you mentioned some
mistakes Franchisers are making.
I'll give you three quick onesLow franchise fee Get that
franchise fee up there.
Stop being wimpy and saying, oh, we're new, we got to have it
low.
It's ridiculous, it'sembarrassing, it's a life
decision.
Get it up there.
You got a lot to pay for.
You ain't going to lose a dealover a $20,000 franchise fee
increase.
Number two underfundedFranchisors is going to take you
(39:48):
a lot more money, a lot moretime than you ever imagined.
You've got to be funded well oryou're going to crash and burn.
And number three that came tomind just wrote down resales.
Have a resale program.
Now you're brand new.
You don't have, you're notgoing to have resales for a long
time.
Get a resale program A to Z,everything about it.
Who's obligated to whatCommissions?
From the seller to theconsultant?
Can a franchisee sell acandidate in validation?
(40:11):
Their franchise man?
It happens a lot.
A candidate's in validation.
They're doing validation with aZ.
Z says buy my franchise, okay,what does that Z have to pay the
ZOR?
What's their financialobligations?
Or, more importantly, to theconsultant Can they even do that
at all?
So just get that documentedfrom day one in the office
manuals in your training.
Remind them of it.
Often those three things arehuge.
(40:33):
I deal with them almost daily,those three, and if you can get
those three handled you'rehalfway there to overcoming a
lot of mistakes franchise ZORsmake early on.
Lance Hood (FranPro) (40:42):
Absolutely Red.
You're a fountain of wisdom.
Red Boswell (IFPG) (40:46):
Tell my wife .
Lance Hood (FranPro) (40:49):
Next event , all right.
Well, I appreciate you and Ijust wanted to thank you for
your insights and these kind ofprocesses and steps that you've
shared with us.
And I would tell anybody ifyou're looking to have
consultants help you with yourfranchise business or looking to
be a consultant, go to thislink https://Franpro.
vip/GoIFPG.
(41:14):
They're well known, hugecompany.
Awesome, thanks, red.
Red Boswell (IFPG) (41:19):
You're awesome, lance.
Appreciate everybody on here.
Franchise is a wonderfulindustry.
Lance is a great, greatconsultant and we'd be honored
to help get you clarity on thismodel, help you figure out if
IFPG is the right fit for youand what you want to accomplish.
Let's go do it.
Thanks, lance.
Lance Hood (FranPro) (41:33):
Thanks.
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