Franchise Business Review on LinkedIn: FBR Summit 2024 - Franchise Business Review (2024)

✅ Unlocking success starts with effective goal-setting! At the Franchise GrowthLab, we're firm believers in "The Power of ONE." Here are FIVE key steps to supercharge your company's success:1️⃣ Radical Focus: Keep your team aligned and accountable by making sure everyone knows the "ONE Thing", which is the MOST important strategic action to evolve and grow your business, and its critical numbers!2️⃣ Expert Goal Setting: Teach your team why goal setting is important and how to set powerful goals. Lead the way in goal-setting as a franchisor, empowering your team with the skills they need for success.3️⃣ Top 3 Wildly Important Goals: Identify three essential goals and set up accountability by assigning a team member to be responsible for managing and completing the goal.4️⃣ Teamwork: Foster collaboration by ensuring every franchisee has their TOP 3 goals and making strides TOGETHER! Report on progress weekly during leadership team meetings and company wide huddles.5️⃣ Strategic Offsites: Come together as a team during quarterly and annual offsites. Update, refine, and tackle challenges and set new goals and metrics as a united force.To learn more, download The 10 Habits of Best in Class Franchisors 👉 https://lnkd.in/gWv-3w58And…join us for the "CFA-CFE Top 10 Franchising Must-Have Habits Workshop" on October 26th to dive deeper into these essential habits and strategies. Plus, earn CFE credits! Click the link to register: https://lnkd.in/gCWQRBFy#ThePowerOfONE #SuccessStrategies #Teamwork #GoalSetting #FranchiseGrowth

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Our Chief Match Maker, @Katrina Mitchell, recently attended #IFA2024. Hope you enjoy this short montage of some of the highlights of the event, put together by our fabulous team.From diving deep into franchisee engagement and Getting Franchisee Buy-In to Change with Greg Nathan to sharing thoughts at the Entrepreneur Media booth alongside Scott Greenberg, every session was a journey into the heart of what makes our franchise community thrive.Scott's latest book, "Stop the Shift Show," has already made waves, and it was a joy to connect so many of you with his groundbreaking work through our little bookmark exchange.Leading the Thought Leadership Roundtable on Fabulous Franchise Conventions is always a highlight for our team. We love the open sharing and collaboration and as we always do, we gathered all the great tips to share back with our table members. But don't feel left out! If you'd like a copy of those tips, just let us know and we'll get them right out to you.Kelly McDonald's Super Session was a masterclass in marketing to, selling to, and providing meaningful and memorable service to People Not Like You! So much more than a typical perception of 'diversity', Kelly taught us how to open and connect in truly meaningful ways, increasing our connections AND our bottom lines.We spent a lot of time hanging out with our incredible speaker partner Ford Saeks in his booth. So many of our long-time value clients stopped by to say hello and talk about Ford’s tactical training on Implementing AI for Franchisees. Ford generously shared a copy of “ACCELERATE: The Ultimate Guide to Maximize Local Marketing and Boost Sales” with any franchisor who stopped by. If you’d like a copy, let us know and we’ll make it happen. And of course, the incredible Chris McChesney's workshop, The Four Disciplines of Execution (4Dx), was a not-to-be-missed experience. AND don't worry if you missed it, we have many ways to help you engage with Chris to bring 4Dx to your teams.Franchise Speakers is passionate about helping franchisors find speakers, trainers, emcees, and entertainers. If you have a need, you know we’d love to help!

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Is your rock-solid 2024 strategy struggling?Are you ready to take your franchise to the next level? Join me and a group of driven franchise owners in the confidential Franchisee Advanced Leadership Mastermind. The mastermind is limited to 6 franchisees for personal conversations between the group sessions.A new cycle starts 𝐀𝐩𝐫𝐢𝐥 4𝐭𝐡 2024 𝐚𝐭 11:00 𝐀𝐌 Eastern. We meet every other week for 6 weeks.One of the sessions is a dive deep into a strategic planning and execution framework that grew my franchise-ImageFIRST to $2.5 million in contracted-recurring sales and transformed the Terrace Park Fire Department into an organization of unpaid professional firefighters.In one of the 6 sessions, we'll focus on 3 Strategic Priorities:1. 𝐋𝐢𝐧𝐤𝐢𝐧𝐠 𝐕𝐢𝐬𝐢𝐨𝐧 𝐭𝐨 𝐀𝐜𝐭𝐢𝐨𝐧𝐬: Learn how to bridge the gap between your mission and vision, boosting revenue and market share, and cutting costs.2. 𝐍𝐄𝐌𝐎 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐃𝐞𝐦𝐲𝐬𝐭𝐢𝐟𝐢𝐞𝐝: With so many options, how do you have confidence in your strategy? Navigate through the NEMO Grid to categorize priorities—No Brainers, Expected Wins, or Maybes—based on impact and resources.3. 𝐄𝐱𝐞𝐜𝐮𝐭𝐢𝐨𝐧 𝐒𝐮𝐜𝐜𝐞𝐬𝐬: Discover the power of execution habits and their role in advocating for impactful actions.But here's the real game-changer: Cut through the noise and create the most impactful strategy to share with your team and future-proof your franchise.Ready to make strategic moves? Secure your spot today, and discover the power in working with franchisees outside of your brand.Click the link in the comments for more information to join this dynamic group of small business owners.#94XMovement #Franchising #Mastermind #StrategyExecution

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Necessity is the mother of invention and first the pandemic and now spiralling inflation have forced many businesses to adapt quickly to changing circ*mstances and buyer behaviour. Franchisors must be prepared to pivot their business models, adjust their marketing strategies and offer new products or services—or risk becoming irrelevant and uncompetitive in a rapidly changing market.The problem is, with franchises based on so-called 'proven business models' and locked in to 5+-year-term franchise agreements, how do you foster and implement creativity and innovation?https://lnkd.in/gFWiuG4R

Are you unlocking the full potential of your franchise? 🚀 Our latest blog explores the essence of cost management beyond mere expense cuts. Discover how strategic planning and modern tech can revolutionize your franchise operations.Dive into success stories and learn from industry leaders. 💼 Transform challenges into opportunities for growth and efficiency.Ready to elevate your franchise to new heights? Click to uncover the strategies that will set you apart. 🌟 https://lnkd.in/g4syJ2Xp#FranchiseGrowth #Innovation #CostManagement

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When a red flag...isn'tDue diligence means looking for red flags.But when reviewing a franchisor's disclosure documents, are you looking for the right ones? Because of common misconceptions, you might think that certain situations are deal-breakers when they don't have to be.These include:✅ A young franchisor leadership team✅ Lawsuits against the franchisor✅ Slow growth of the franchise networkCheck out this week's blog post to find out why these red flags, and several others, actually could be green lights. Orbook a call with meto get all the info, so you can review disclosure documents with a fresh perspective and take advantage of the best opportunities. #leadership #team #opportunities

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"But as then he that was born after the flesh persecuted him that was born after the Spirit, even so it is now." Galatians 4:29 KJVWhen I became the first franchisee of ImageFIRST, I was young (33), full of energy, and ready to take on the world. The franchisor and my partner in the venture, Jerry Berstein, and I had many conversations about his expectations and what I needed to do to meet them. I remember one conversation well; his main point was, “Luke, I don’t expect perfection from you. What I do expect is when you make a mistake, you learn from it and not let it happen again.”I took his advice to heart, and Jerry was right. Despite my mistakes, ImageFIRST - Cincinnati grew from $0 to $2.5M in annual revenue. During our 20-year adventure, Jerry would illuminate areas of improvement and say, “I expect you to correct this, learn how not to let it happen again, and move on.” He never once raised his voice or talked down to me. Fast forward to this week, and I am helping someone sell multiple assets with multiple price points. In a second conversation with a prospective candidate, I had a moment of incompetence (I’m learning the intricacies of franchising, like drinking from a fire hose) and mixed up the sale price with another asset.Join me and your colleagues in the Franchisee’s Advanced Leadership Center Mastermind, a new cycle that starts April 4th at 11:00 AM Eastern, so we can share challenges and grow together before mistakes are made. Click the link in the comments to learn more.If you’ve ever made a mistake, and the negative thoughts overwhelm you, watch the video to the end for 7 steps to help you learn and grow from the experience. https://lnkd.in/gtna26E9#94XMovement #Franchising #Leadership #GrowthMindset

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Gain valuable insights from established brand franchise leaders at The PowerHouse Exchange.Stay ahead of the game and learn the strategies driving success in 2023. 🚀https://lnkd.in/eptipRNpGive this post a like if you'll be there! ✔️#FranchiseLeaders #IndustryInsights

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"What Is Meet-The-Team-Day?” It has nothing to do with sports🏌️. It is related to business💼. It is specifically related to franchised businesses. The "Team" is the leadership team of a franchise. Meeting🤝 this team is the last step 👣in the franchise discovery process.Another name for "franchise discovery process" is the franchise award🏆 granting process. Near the end of it, a franchise candidate is invited to "meet the team." The agenda typically includes having a dinner out the night before to get to know each other on an informal basis. The next day may include presentations by marketing, finance, and operations. A site visit to one or more local franchisees is also a nice touch.After the Meet The Team event, the franchise leadership team makes a decision🧑⚖️. Within a day or two, a franchise candidate will learn if he or she has been awarded territory. If so, then it’s up to the candidate to either accept or reject the award.MEET THE TEAM DAY is our topic for tomorrow’s #FranchiseMinute Live podcast.TUNE IN TOMORROW AND EVERY WEDNESDAY AT 11:30 A.M. JOIN US AND REGISTER USING THE LINK IN THE FIRST COMMENT BELOWSee you then!! 😉#EntrepreneurLife #Success #Wealth #Business

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