FranX | Why Franchise Brands Are Constantly Chasing [INSERT WORD]

The Next McDonald's (Big Idea)

You know the video that explains why your brand and franchise represent the best opportunity for those perfect fit franchisee candidates and why they should act right now?

Did you do it? If you did, you know that it takes some time and is not as easy as it sounds. You also know that it helps create a level of honesty, clarity, and transparency that gives you an advantage over your competition.

If you didn’t do it, you should.

I failed (I think!) at taking our own advice, I recently published a “why you, why now” video as to why we’re the best fit for our target franchisor clients. 

Turns out that the video came out OK, or, as Nick would say, “Solid”, which is code that the video missed the mark.

The good news is that getting your why you/why now right is a process, and we’re going to be working on a better version. The feedback we received and team discussions about what works in the video and what doesn’t has also helped us uncover some of our blindspots.

If you’ve developed your why you/why now video let us know. If you would like us to review it during a FranX live stream, drop us a note.

News You Can (Actually) Use

• Is There a Silver Lining to Franchisee Bankruptcy?
• Canadian Franchisee to Acquire 14 Taco Bell Stores, Open 50 More

Killer Brands

Located in Texas, Frozen Vibes is a Daiquiri Bar 2 [Go] and offers fresh, made-to-order signature daiquiris, and novelty drinks.

Because products are primarily sold to-go, government-mandated restrictions on indoor dining did not force long-term closure during the pandemic. Frozen Vibes is now franchising. Check out their Instagram to learn more about this killer brand!

Franchisees Kicking Ass: The Franchisee Is King

How To Succeed as a Multi-Unit Franchisee: Dustin King, Multiple Snack Brands

At just 33 years old, Dustin King has quickly become the king of the snack franchise industry. Franchising is in his blood — he is a third-generation operator of his family’s multi-brand business. Today, he has expanded his portfolio to include Auntie Anne’s, Häagen-Dazs, Cinnabon, Planet Smoothie, Jamba Juice, Nestlé Toll House Cookies and Carvel.

King started off with a single brand: Auntie Anne’s. And when he wanted to pursue multi-brand franchising, he looked for other brands that would complement Auntie Anne’s. “We knew we wanted to stay in the snack category,” he said. “And we’re primarily mall-based, so we would look at brand’s traffic counts and where they were located in the mall to see if they would fit.”

King believes his success comes from working with great people and not just from having great brands. “We have great brands, but in order to operate those brands, we rely on our people in the stores,” he said. “Although we’re in the franchise business, we’re really in the people business — it’s about finding great people and training them to the brand’s standards.”

His advice for franchisees wanting to grow their portfolio is to put passion first. “Go after something that you are passionate about, but also that you align with as far as their product or service goes.”

As a multi-brand franchisee, King looks for an exceptional multi-unit package deal when seeking out other brands. “There needs to be growth opportunities with the franchisor, but there also needs to be an incentive,” he said. “Ask yourself important questions like, ‘How are they nimble? How do they pivot when they need to? And how can you be successful with that brand?’”

Watch the full video interview on YouTube.

Yo Broker, Sell My Franchise

Top Franchise Brokers: Jack and Jill Johnson, The Franchise Insiders

Jack and Jill Johnson’s favorite part about being franchise consultants is simple: They love helping their clients thrive. And currently, they’ve helped 560 people do just that as successful franchise owners.

Although the duo comes from different backgrounds (Jack developed his own franchise called Home Care Assistance and grew it to a 200-location franchise system, and Jill specialized in email marketing), they believe their success ultimately comes down to loving what they do.

“Every day kind of feels like Christmas morning, because you meet new people and you get to help them accomplish their goals,” said Jack. “It’s really kind of a thrilling existence.”

That dedication extends to their level of communication with clients and franchisors. “We’re available 24/7, and we will respond within minutes to anyone who contacts us,” said Jill.

“I was talking to a franchisor the other night at 2:30am,” added Jack. “We adjust to the style of communication our clients want.”

For people wanting to become franchise owners, Jill advises patience is key. “Franchising can be one of the most rewarding endeavors of your life,” she said. “But you have to follow guidance, invest your time and be patient.”

For franchisors, Jack and Jill suggest open communication in order to achieve their goals. “Be transparent and show us how we can support you,” said Jill. “If we’re not getting the full story, it’s difficult for us to do our job.”

Watch the full video interview on YouTube.

The Bottom Thoughts

We were recently chatting with a multi-brand franchisee and asked, “how would the best franchisor go about getting their brand in front of you?” The answer was they couldn’t.

This particular franchisee is out of time (not money). He is operating three different franchise brands, opening more units, and still fighting through labor issues. He said there isn’t enough time in the day to buy another brand.

Put him on the sidelines — alongside a large percentage of multi-brand franchisees.

Let’s shift our attention to the next multi-unit franchisee. What are they doing?

• Taking more time.
• Doing more research.
• Inviting more brands to the table.
• Looking for the best deal.
• Evaluating data again.

So, you jump-start your frandev budget today. Tomorrow you ask about your leads because they are not pouring in.

What to do, what to do.

Relax. Reset your expectations. Your data will dictate speed to market on leads (if it was slow last month, it may be slow this month).

Don’t want to blow your mind, but in the financial services industry, their candidate journey expectations are 18 months. 18 months to get a candidate worth far less value to them than a franchisee is worth to a franchisor.

Will expectations ever change? Doubtful. Will brands focus on leads non-stop? Totally. Will brands ever look at their internal data to better understand their own brand expectations? Eventually — as long as we continue to educate.