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The Next McDonald's (Big Idea)

The Secret to Working With Franchise Brokers

Not really a secret and ... it’s obvious when you think about it.

As a franchisor, you need to reverse your thinking!

It’s not the job of a franchise broker to help you grow your brand. It’s not the job of a franchise broker to help you close a deal. They don’t owe you anything.

Reverse your mindset. Instead of asking what a franchise broker can do for you, start asking what you can do for them. How can you help a franchise broker achieve their goals?

They want to sell franchises, they want to earn commissions, but there’s more …

Good franchise brokers want to do good. They want to transform the lives of their franchisee candidates by placing them with a great brand. They want to celebrate victories and wins then their candidates find the right fit and sign a franchise agreement. They also want to celebrate long-term wins when, years later, their clients succeed.

How can you help franchise brokers succeed?

How can you help franchise brokers transform lives?

It starts with a relationship, but involves so much more. See our bottom thoughts!

News You Can (Actually) Use

• Give me a reward, bro -- then, I will dine with you
   
• Megan Thee Franchisee

Killer Brands

Why Fit For You Is Set To Dominate the Franchising Industry

Fit For You Franchising*, a franchisee advisory consultancy that is also the multi-brand franchisor behind fitness brands Fitness Premier 24/7 Clubs and fitWAVE, as well as carpet repair franchise The Carpet Chemist, is quickly becoming one of the franchising industry’s most exciting new organizations. Designed by franchising industry veteran and CEO Jason Markowicz, the Fit For You concepts position franchise owners for success through affordable business models, high-profit margins and a robust suite of support. Now, as each of the concepts prove to be uniquely well-positioned following the pandemic, they are catching the eyes of savvy investors all over the country.

The company’s first brand, Fitness Premier 24/7 Clubs, is a fast-growing, 13-location, group-workout gym concept that has seen major success in smaller markets in the Midwest. fitWAVE is an innovative, cycle-based workout concept that was created to appeal to the demand for low-cost fitness options following the pandemic. Finally, The Carpet Chemist is a newly-launched carpet repair and cleaning company that is starting to pick-up steam as a home-based franchise opportunity. As a franchisee consultancy, Fit For You also offers guidance for future franchisees on finding the best fit for their personal and financial goals.

With so much value offered to prospective franchisees, Fit For You Franchising is carving out an impressive niche in the franchising industry and giving motivated entrepreneurs the opportunity to run their own business with the support of a franchisee-focused company.

Franchisees Kicking Ass: The Franchisee Is King

The Great Franchisee: Ok Azie, Right at Home*, Florida

With a doctorate in business administration, the career finance professional is well equipped to make the most of his business with the fast-growing senior care brand.

When Ok Azie and his wife Kathleen decided to open a business, they were looking for something that would leverage both of their professional skill sets. Ok is a finance executive with a doctorate in business administration, and Kathleen is a family nurse practitioner. So when the couple discovered Right at Home*, the 645-plus-unit in-home senior care brand, they knew they’d found the perfect opportunity to take their careers to the next level.

Yo Broker, Sell My Franchise

Top Franchise Brokers: Tracy Rickman, FranNet

Franchise broker Tracy Rickman helps clients reach that ‘ah-ha’ moment where they find their fit to complete the puzzle of reaching their goals.

For FranNet broker Tracy Rickman, success in life is not simply collecting the right pieces but figuring out how they work together: connecting the elements of your past with the hopes of your future to create a gratifying vision of life and work. Through FranNet, Rickman offers the system and support to do just that.

“Taking the leap can be frightening,” noted Rickman, a former FranNet client herself. “I've been there.”

Her advice? “Really stay away from the old adage ‘do what you love and you’ll never work a day in your life,’” she said. “Instead, focus on lifestyle and transferable skill sets.”

Working with close to 400 aspiring professionals, Rickman helps clients reach that “ah-ha!” moment when they find their fit and complete the puzzle to reach the goals.

“Winning for me is when a client reaches out to you years later to tell you how great they’re doing,” Rickman said. “ It’s when we make that right match so clients can go forward and live their best life.

Watch the full interview with Tracy above, or click here to watch it on YouTube.

The Bottom Thoughts

How to Start a Relationship & How to Determine Which Broker System Best Aligns With Your Goals

It’s not as easy as deciding you want to use the brokers, paying an entry fee and magically selling franchises. Truthfully, it is all about the relationship.

Franchisors succeeding in the broker network are doing so by following relationship building tactics often used by the best of the best franchise suppliers:

1. Education: Why them, why now.
2. Wine & Dine: Relationship building requiring an investment.
3. A fruitful return on investment: What do you reward the broker with when they bring you a deal.
4. Constant communication -- newsletters, content that is marketable for them to their networks.
5. In-person networking at the broker conferences.

If you don’t have a plan in place, you may want to rethink your course.

Then comes deciding who to invest the relationship building with. Not all brokers are good nor bad. Not all brokers have the tools to sell high end investments. Point is -- not all brokers are created equal.

Just as you have to do your best to present your brand, they also have to do their best to build confidence in you and yours to help you move franchise mountains and find you more deals.