ABOUT THIS EPISODE
Engaging with an agency can be a scary proposition because you are immediately incurring monthly cost, so you want to be ready. On Franchise This, Sean McKay and producer Joseph Lewin do a little something different today and go over common questions from franchisees and franchise owners and some of the learnings that they picked up along the way from the show. They talk about how to validate that your business is even franchisable with more than one corporate location, a test somewhere else, standard operating procedures, and a well documented plan and procedure for everything in the business. They talk about the legal side with your FDD, franchise landing page and collateral for advertising, and why you should exhaust your network first with customers, friends, family, vendors, and people you know in the business before you go out and pay for leads. They say how even one franchise location can be a validated concept and a testimonial with good revenue numbers and AUV, like a cheesesteak place with about 4 million dollars in average annual revenue that makes people excited, and they bring in sales, concepts people are less interested in, the cyclical nature of what is in fashion or interesting to potential candidates, and serious franchise owners generating leads with a fresh FDD in hand and a strategic conversation and consultation to talk about what it would look like when you are ready.
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📌 What We Cover- Engaging with an agency, monthly cost, and why hiring an agency too soon is not a good thing for anybody.
- Validating that your business is even franchisable with more than one corporate location, a test somewhere else, and standard operating procedures and a well documented plan and procedure for everything in the business.
- The legal side with your FDD, franchise landing page, collateral for advertising, and going to market more quickly.
- Why you should exhaust your network first with customers, friends, family, vendors, and people you know in the business before you go out and pay for leads, and how one or two franchise locations can make advertising and generating leads easier.
- Using one franchise location as a validated concept and testimonial with average annual revenue, AUV, and a 4 million dollar cheesesteak place example that makes people excited.
- Warm and cold sales, problems in your business model, concepts people are less interested in, the cyclical nature of what is in fashion or interesting to potential candidates month by month and year by year, and finding that out beforehand.
- When to reach out to an agency like ours, serious about generating leads, brands at a very early stage directly out of the lawyer’s office with fresh FDD in hand, and using a strategic conversation and consultation to talk about what it would look like when you are ready.
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🔗 Resources Mentioned- Franchise This
- Sean McKay
- Joseph Lewin
- Franchise consultant Kelly
- FDD
- Franchise landing page and collateral
