Bootcamp Outcomes & Agenda - Franchise.org Franchisor... · Bootcamp Outcomes & Agenda ... • Power and credibility of company-owned unit(s) ... • One to two-week action items

Bootcamp Outcomes & Agenda

Long term: • Lifetime network enhanced or initiated• Accelerate towards reach key goals or recurring revenue self-sufficiency

3 Hour Bootcamp Outcomes: At least 3 actions you will apply.• Part 1: 1-2 applicable tactics & strategies from Shelly Sun’s growth story and participants have

desired questions answered

• Part 2: 1-2 insights and new approaches to ID where you are on your growth lifecycle and move to next cycle and recurring revenue self-sufficiency

• Part 3 : FranHack – RFE Request for Experience 1-2 actions - Participants “Hack” his/her biggest problem to best help them move faster towards recurring revenue self-sufficiency or another key problem

Emerging Franchisor Bootcamp Presentation

Shelly Sun

February 1, 2017

BrightStar Care Story

Our First Five Years of Franchising(2006-2010)

10

27

65

114

140

7 10

27

4551

0

20

40

60

80

100

120

140

160

Year 1 - 2006 Year 2 - 2007 Year 3 - 2008 Year 4 - 2009 Year 5 - 2010

Number of Open Franchisees Full Time Employees

The Journey: BrightStar Care’s History and Evolution

2002 – 2006

Validated the model - Expanded from one

company owned location to three

Brand differentiation (technology)

Initial board of advisors

First franchise location opened in 2006

2007 – 2011

Invested in differentiation (JC)

Transitioned from generalists to specialists

Rebuilt board of advisors

Launched FAC

Intellectual property secured for multiple

adjacent brands and international

Undercover Boss

2017 and Beyond

HBS

International expansion and

adjacent brand expansions

Streamlining SLT to smaller

ELT and building NLT to

invest in managers at all

levels

8

2012-2016

Rebuilt board of advisors (2012)

JC Enterprise Champion For Quality Award

C-suite investments – CMO, CTO, CFO

EOS (2013)

National advertising on TV (2014)

Opened first BrightStar Senior Living

Community (2014)

What Would I Do Again?• Understand the cash you need to reach the point where you no longer have to sell a new

franchise to cover all costs (royalty self-sufficiency)

• Ensure you have differentiation from your competition and double down on those investments (accreditation, technology)

• Invest in Intellectual Property early (Trademarks and URL’s)

• Read and implement Gino Wickman’s Traction and its EOS

• Form a Board of Advisors

• Upgrade Talent proactively

• Implement Performance Groups

• Communicate-communicate-communicate and seek continuous feedback

Lessons Learned• Power and credibility of company-owned unit(s)

• Not all suppliers are created equal

• The talent that gets you to one point may not be able to take you to the next stage; be generous with severance and treat with grace

• Start with generalists but by 50 franchisees you will need specialists

• Started FAC too early and too large

• Launch the General Marketing Fund from day 1 (build it up)

• Resist temptation to sell more than 1 territory to a franchisee initially

Critical Decisions 0-10 Units

• Ensure you have at least one and preferably 2-3 company-owned models before franchising

• FDD - review peers, hire IFA supplier franchise attorney (consider GMF from beginning, performance minimums, Item 19)

• Franchisee Profiling and clear on who you want as a franchisee and hold the bar high


• Establish Board of Advisors

• Launch third party surveys of franchisees, share openly and address areas where you can improve

• Begin monthly best practice calls with 3 franchisees sharing with their peers (with franchisor host)


• Launch information Annual Conference for Franchisees

• Launch newsletter that openly shows ranking of top 10 by revenue by unit, top 10 by revenue multi-unit and top 10 Y/Y revenue to date (get permission from FDD)

• Begin Quarterly Town Hall call to share actions take in past 90 days and initiatives planned for upcoming 90 days; share growth of the system and awards; celebrate successes together


• Time for hiring specialists

• Progress the Annual Conference

• Launch first performance groups (could do sooner if have at least 8-10 willing to participate, pay to commute and pay fee for 2-year commitment)

Critical Decisions 100+ Units

• Add an FAC (start small with 6)

• Consider adding a second conference per year for Franchisees’ managers

• Review model for international viability and ensure trademarks secured

Best Advice Received• Selecting IFA experienced suppliers

• Having mentors

• Forming advisory board

• Hiring talent beyond what you need today

• Power of culture

• Communicate frequently (8 times to hear the message)

• ROI of people & technology instrumental

• Performance Groups

• Delayed gratification

• EOS

Communication OpportunitiesLow Cost – Under 100 units Moderate Cost – 100-250 Units Grand Slam – Over 250 Units

Emails Performance groups (2) Expanded Performance Groups(2-3/year)

Podcasts Weekly Newsletters – separate versions for franchisee and key managers

Supernova

Quarterly Town Hall Calls Annual Conferences for franchisees Top Performer Dinner at Annual Conference for appreciation

Monthly Best Practice Calls presented by operations specialists or peer-to-peer

sharing

Establishment of Franchise Advisory Council Add Branch Leadership Conference for Franchisees’ Managers

Scaled down Annual Conference for franchisees at headquarters

Recognition plaque for certain hourly levels

EOS – The Entrepreneur Operating System

What is EOS?

• In three words: Real. Simple. Results.

• EOS®, the Entrepreneurial Operating System®, is a comprehensive business

system, integrating a holistic business model with a complete set of simple

business tools and a proven business process to align and synchronize all the

pieces of your business to produce the results you want.

• EOS will help you do three things we call vision, traction and healthy:

– VISION – first getting the leaders of your business 100% on the same page

with the vision for your organization: who you are, what you do, where you

are going and how you will get there.

– TRACTION – helping your leaders to become more disciplined and

accountable, executing consistently to do things well and achieve every

piece of your vision.

– HEALTHY – helping your leaders to become a healthy, functional, cohesive

leadership team, because leaders often don’t function well together as a

team.

http://eosworldwide.com/

The EOS Model

Implementing TractionFocus Day

• Hitting the Ceiling – the reasons organizations get stuck

• Accountability Chart – determining the “Right Structure” for your

organization and who is accountable for what

• Rocks – establishing company and individual priorities for the next

90 days

• Meeting Pulse™ – increasing communication, solving issues and

promoting team health

• Scorecard – identifying key metrics for the organization to

measure on a weekly basis

Implementing TractionCompartmentalizing – Everything has its Place

• Every issue, priority, action, or idea that is longer term than 90 days is listed on

your V/TO Issues List.

• Anything to be accomplished this year becomes a goal.

• If it needs to be done this quarter it becomes a rock.

• Issues that arise during the quarter and must be solved go onto the weekly Level

10 leadership meeting Issues List.

• Issues that are departmental in nature get pushed down to the appropriate

departmental meeting Issues List.

• One to two-week action items go on the To-Do List in your Level 10 meeting.

How We Implemented EOS

• SLT first year

• Gino Wickman at annual conference

• Modified EOS forms from the book to be franchisee specific

• Franchisee seminars hosted by CEO

BrightStar’s EOS Implementation Timeline

Quarterly Pulsing

Core Values Accountability Chart shared

with Employees, Franchisees

2 Day Vision

BuildingFocus Day

SLT & Corporate Team Read

Traction

30 Minute Call &

Implementer Assigned

Shelly Discovers Traction

Book

March May June July 12 July 21-22 August 6September

13

0%

10%

20%

30%

40%

50%

60%

70%

80%

Using EOSOverall

Weekly L10Meetings

Created/UsingAct Chart

Using WeeklyScorecard

Using V/TO

54%

75%

61%

75%

55%

< 50%

52-69%

70-96%

97-353%

Franchisees using EOS more likely to achieve higher Revenue % to Goal

Franchise Research Institute Survey, July 2015 ▪ Franchisees divided into quartiles based on R%G buckets ▪ n=119 (28, 31, 32, 28)

Fully Utilizing:

43%

Q&A

Shelly Sun BioShelly Sun is the CEO and co-founder of BrightStar Care®, a premium healthcare staffing company providing the full continuum of care, from homecare to supplemental staffing for corporate clients such as nursing homes and physicians. In 2005, BrightStar launched its franchising efforts, becoming the first and only franchising company in the country to specialize in both medical and non-medical care and health care staffing.

Shelly is a Certified Franchise Executive and participates on the International Franchise Association’s (IFA) Board of Directors and will be the Chairwoman of the IFA 2017-2018. Shelly was also selected by the IFA as the 2009 Entrepreneur of the Year. BrightStar® was named to First Place in the June 2014 Forbes’ list for franchises under $150,000 initial investment, and was selected for the Inc. 500/5000 every year 2010-2016. BrightStar® is the only franchise home care brand to receive the Joint Commission’s Enterprise Champion of Quality Award every year 2013-2016.

BrightStar was featured on CBS’ Undercover Boss. Shelly also published her first book, Grow Smart, Risk Less – a low-capital path to multiplying your business through franchising, where she discusses her journey as an emerging franchisor through amazing growth, lessons learned and game-changing ideas. And in late 2016, HBS published a case about BrightStar’s journey.

APPENDIX

Bright Ideas• Invest in URLs that others may try to buy if you don’t, such as “name-sucks.com”,

“name.net”, “name.org”, etc. The costs are minimal and help to protect your brand from derogatory sites or brand confusion in the market.

• Regardless of the size of your franchise system, the review of where your intellectual property is held and the separation of it from company-owned operations and from franchise operations is a worthy exercise to undertake with your board of advisors and attorney.

• Begin your discovery and become a student of franchising while you are following the path to launching and growing your franchise system.

• Understand how to assess the initial capital needed to launch the franchise and to sustain it to the point of royalty self-sufficiency.

Bright Ideas• When you begin researching a law firm, leverage the most powerful resources in franchising

– the IFA and its members and connections.

• I prefer a fixed-fee arrangement: the attorney should invest time learning your business, understanding your competitors and determining your preferences in structuring your FDD.

• Limit the number of territories per person to two until they have proven themselves with opening the first territory and being at or better than the system average at six months.

• We included a higher royalty on national account revenue sources in our FDD (1% higher) to offset the cost of national account leadership position.

• For an optimal culture in a franchise organization, there is one pervasive element that must exist: shared success.

Bright Ideas• Once I began building job descriptions for the job that I needed two years out, and hired for

that, the pieces the organization needed to grow began to fall into place.

• Ultimately the goal of building a high-performance, highly accountable organization is to build a culture in which employees are empowered and rewarded as owners.

• I believe so strongly in the value of having a board of advisors that we recommend the same practice to our franchisees and provide them with an instructional video to assist them in forming their own boards.

• In each area where you do not have prior experience and therefore cannot adequately evaluate the performance of those you manage, you should learn enough to do so or hire a consultant/advisor to help you,.

• Franchisors should select and mandate the use of any suppliers who will assist in positively and consistently presenting the image of the brand.

Bright Ideas• We designed homework for the prospect at each stage in our virtual brochure prospect

experience and use this to help us determine if the prospect will follow a process.

• The use of a great sales qualifier adds to our ability to increase deals and to maximize our sales team’s time.

• Ask your chosen profiling company to build a “top performer” model by surveying your top-performing franchisees to find consistent traits, so that you can begin selecting franchisees more likely to become top performers.

• I strongly recommend being more intentional about referrals by planning, disclosing and communicating a referral program.

• Tracking the realization of benefits from any new programs is critical.

Bright Ideas• Understanding where resources will be best deployed for the highest ROI is key to maximizing

franchisor profitability.

• The selection of technology for on-boarding and supporting franchisees is an important one. You need to balance initial cost, recurring cost, and the underlying technology platform that the systems are built on.

• As you being to plan for how to eventually enable open access to information, you will want to think about how to get key information on one common technology platform, as BrightStar has done with our investments in SharePoint, so the information is available to facilitate reporting.

• The time you spend to publish the survey results, to review the feedback, and to prioritize an action plan will pay dividends in three critical ways – franchisee satisfaction, improved system results, and improved franchisee validation.

Bright Ideas• Stay conscious of ways to adapt new programs to assist both new and existing franchisees –

it doesn’t cost appreciably more and the benefits to the culture are huge.

• Providing real-time information that a franchisee can use to improve the results of his business can have a positive impact on gross margin and overall results.

• One of the major breakthroughs we had was evaluating each function in a franchisee’s business and matching the skills and experience required to accomplish the task.

Avoid These Pitfalls• Don’t try to franchise a business without proving success through your first unit(s).

• Avoid generic branding in favor of spending the money for a professional branding firm to help you create a brand identity that embodies your core market differentiators and/or your brand’s customer promise.

• Meeting those who are well respected within IFA circles would have saved me $75,000 in legal fees paid to a big national law firm and $25,000 paid to a big national public relations firm that didn’t understand franchising.

• We could have held off for at least a year in a handful of states and saved money on FDD filing fees and legal complexity, as well as on marketing the franchise opportunity.

Avoid These Pitfalls• Launching the GMF sooner would have allowed me to hire marketing personnel sooner, which I

waited way too long to do. As a result, I paid far more for outside suppliers to do the work.

• I didn’t invest in having a leader oversee the company-owned operations while I focused on my franchisees. Secure adequate personnel so you have dedicated resources for the company-owned operations and different resources (including you) focused on franchising.

• It is paramount – no matter what business your are in – to avoid treating the name you receive from someone you trust as though it were a recommendation.

• I initially brought people in and gave them titles that were too high and did not really reflect their authority and ability to act independently.

Avoid These Pitfalls

• Be extremely cautious in hiring a consultant who is already an advisory board member.

• Always screen board members and negotiate with them just as much as you would any other third party.

• Changing printers is difficult on everyone involved and expensive, so do your homework and make your decision the right one, the first time.

• The mistake that many franchisors make in the early years is to sell franchises to almost anyone who is willing to sign the franchise agreement and pay the initial franchise fee.

Avoid These Pitfalls

• By evaluating franchisees annually to see if the ideal (top performer) profile in a prior year is still relevant today, you mitigate your risk of not maximizing a solid tool.

• One of the biggest mistakes I made early on was assuming that all portals that other franchisors were using successfully would work for me too.

• As I matured as a franchisor, I realized that every day I delayed “the conversation” cost the franchisee – who I was actually trying to protect – frustration and money.

• In retrospect, I was not the best person to develop the content and train my franchisees because I knew it too well that it was second nature to me.

Avoid These Pitfalls• Franchisees become accustomed to have the founder or CEO as the main point of contact, so

breaking this connection may be difficult for them.

• We learned early on that training programs should be administered by people who know how to develop curriculum and understand adult learning principles.

• It took me a while to realize that I could significantly control costs and efficiency by not offering training every month.

• If I could do it over, I would first identify the franchisees who had built enough of an infrastructure to be able to commit the time to an FAC and only invite those franchisees that had the bandwidth to participate on the FAC – even if this meant forming the FAC with a smaller group of franchisees.

Outline

• Lifecycle of Franchisors

• Benchmarking of Brands in Attendance

• IFA Emerging Brand Survey Summary

• Case Studies

Lifecycle of Franchisors• Startup

From the time when a prospective franchisor completes its FDD to the time its first franchisee becomes operational.

• Emerging When the specific unit offering is still being adjusted and/or the franchisor is still assembling and refining its 10 functional responsibilities.o Unit economics, development, training, site selection, marketing, pre-opening support, field support, compliance, technology,

and legal

• GrowthWhen franchisor functional infrastructure is prepared to handle a rapid expansion of franchised units.

• MatureWhen franchisor attention turns from a primary focus on growth and support to growth to a focus on system operational and financial efficiencies.

Food vs. Non-Food

Benchmarking of Brands in Attendance

Methodology

• Benchmark is conducted based on 42 brands that:

– currently offer franchises in the U.S.

– have been franchising for at least 3 years

– with most current FDDs available

• Of the 42 brands: 26.2% -- food; 73.8% -- non-food

Fees and Initial InvestmentFood Brands Non-Food Brands

Age of Brands 17.6 years

# Years of Franchising 10.8 years

IFF $33,500

Royalty 6.2%

Midpoint Initial Investment $180,720

Marketing:

National 1.2%

Local 2.2%

Age of Brands 14.6 years

# Years of Franchising 9.4 years

IFF $36,091

Royalty 5.2%

Midpoint Initial Investment $570,799

Marketing:

National 1.8%

Local 1.5%

System GrowthFood Brands Non-Food Brands

1

34

3 5

0

10

20

30

40

First Year 2015

# o

f U

nit

s

Franchised Company-Owned

9.3 years

0

10

20

30

40

2012 2013 2014 2015

# o

f U

nit

s

Franchise System

CAGR: 18.6%

3

36

2 3

0

10

20

30

40

First Year 2015

# o

f U

nit

s

Franchised Company-Owned

10.8 years

0

10

20

30

40

2012 2013 2014 2015

# o

f U

nit

s

Franchise System

CAGR: 19.7%

Unit Economics - TransparencyFood Brands Non-Food Brands

% Brands with Item 19 63.6%

Items Disclosed:

Average Unit Revenue 100%

COGS 71.4%

Labor Cost 57.1%

Rent & Utility 14.3%

Royalty & Marketing 0%

Other 0%

% Brands with Item 19 71%

Items Disclosed:

Average Unit Revenue 100%

COGS 40.9%

Labor Cost 40.9%

Rent & Utility 9.1%

Royalty & Marketing 22.7%

Other 13.6%

Unit Economics - PerformanceFood Brands Non-Food Brands

2015 Indicators:

Average Unit Revenues $917,034

Revenue per Square Foot $291

Revenue to Initial Investment Ratio 1.6

$840

$860

$880

$900

$920

$940

2013 2014 2015

Th

ou

san

ds

Average Unit Revenues CAGR: 2.2%

Note: averages were calculated based on brands with available information.

2015 Indicators:

Average Unit Revenues $518,065

Revenue per Square Foot $709

Revenue to Initial Investment Ratio 3.4

$460

$480

$500

$520

$540

2013 2014 2015

Tho

usa

nd

s

Average Unit Revenues CAGR: 2.7%

Franchisor FinancialsFood Brands Non-Food Brands

2015 Financials:

Current Assets $614,156

Cash $273,384

Shareholders’ Equity $1,924,324

∆ Recurring Revenue Self-Sufficiency*

First Year -$23,170

2015 $205,540

% Brands Reached Self-Sufficiency** 54.5%

# Years Taken to Be Self-Sufficient 2.7 years

2015 Financials:

Current Assets $1,120,463

Cash $230,734

Shareholders’ Equity $580,961

∆ Recurring Revenue Self-Sufficiency*

First Year -$660,205

2015 -$352,034

% Brands Reached Self-Sufficiency** 45.2%

# Years Taken to Be Self-Sufficient 2.9 years

*Recurring revenue self-sufficiency aims to determine whether a company can be self-sufficient without expanding its franchise system size. **Cash flows from company-owned units have significantly affected self-sufficiency.

Unit Patterns and Growth, Corporate Structures, and Financing

IFA Emerging Brand Survey Summary

Emerging Brands• Over 1,600 brands have started franchising since 2011, with an average of 300 brands

entering the market each year. • 36% are food brands – mostly QSR; 64% are non-food and service brands.• Health and fitness, child-related products, and service and general business related

services industries saw the largest growth.

5 years or less40%

6-10 years17%

11-20 years16%

>20 years27%

% Brands by Years Franchising

0

100

200

300

400

2011 2012 2013 2014 2015 2016

# o

f U

nit

s

New Brands Entering Franchising

Note: projected 2016 numbers due to the lag in FDD collection.

Pre-Franchising Stage• Most brands started as small businesses integral to their communities prior to starting

to franchise.• New franchisors have a median of one corporate unit in operation and were in business

for an average of 10 years prior to franchising their concepts. • New franchisor use multiple sources of funding.

0% 5% 10% 15% 20% 25% 30% 35%

0

1

2

3

4

5

6+

# o

f C

orp

ora

te U

nit

s at

Sta

rt

Corporate Units in Operation Prior to Franchising

Investors, 25%

Bank/SBA loans, 21%

Personal

finances, 64%

Family/friend…

Sources of Financing Used to Start Small Business*

* Survey respondents selected multiple responses

Early Franchising Stage• New franchisors employed an average of 3.3 people who wear different hats and serve

multiple roles during the first years.• On average, it took 2.3 years for new franchisors to break even, ranging from a few

months to nine years.• Emerging franchisors face many challenges.

0

2

4

6

8

10

12

14

Year 1 Year 2 Year 3 Year 4 Year 5

Ave

rage

# o

f U

nit

s O

pen

ed

Average Franchised Unit Openings in First Five Years Franchising

0% 20% 40% 60%

Finding qualified franchisees

Marketing & selling franchises

Cash flow

Keeping up with growth & supporting new franchisees

Government Regulations

Finding qualified employees with franchise experience

Other

Biggest Challenges for Emerging Franchisor's Business*

* Survey respondents selected multiple responses

Reality for New Franchisors

• Initial franchise implementationo Founders typically fill the primary role of selling and supporting franchisees the first several years

o Initial franchise sales are often made to existing contacts or customers of the founder’s business

• Factors that limit rapid growth in early yearso Management team’s focus is split between company-owned locations and growing the franchise network

o Lack of capital for infrastructure development and lead generation spend

o Limited processes in place for proper execution of the sales and support program

o Understanding and adoption of franchising best practices is limited due to lack of franchise experience

Case Studies

Evolution of Organizational Dynamics

Case Study I

Start-Up Phase Management Team

o Industry: Health and Fitness o Sector: Health – Generalo 2015 Franchised Units: 1,127

CEO

CFO/Director of Franchise Sales

President of Franchise

Growth Systems

Regional Director of Franchise

Growth Systems

At 50+ UnitsAfter 2 years of franchising


CEO

COO

Regional VP of Operations

Director of Training

CFOChief Legal

Counsel

Clinic Administrator

CEO

COO

VP of Training & Operations



CFOChief Legal

Counsel

Clinic Administrator

New positions added



CEO

COO


Field Support Consultants

CFOChief Legal

CounselCIO

Chief Learning Officer

Corporate Trainers

CMO

VP of National Wellness Program

VP of Industry

Relations

VP of Product Development

CEO

COO

VP of Operations

Regional VP of

Operations

Field Support

Consultants

Chief Learning Officer

Corporate Trainers

CFOChief Legal

CounselCIO CMO

VP of National Wellness Program

VP of Industry Relations

VP of Product Development

Case Study II

o Industry: Beauty-Relatedo Sector: Hair Careo 2015 Franchised Units: 1,423

President/CEO

VP of Market Development

Marketing Manager

VP of Operations

VP of Franchise Development

Director of Franchise

Development


President/CEO


VP of Operations

Director of Real Estate

VP of Team Development

Director of Business Coaching


VP of Finance (CFO)

VP of Franchise

Sales

VP of Marketing

Director of Franchise Licensing Support (Franchisee LSM)

President/CEO


Marketing Manager

VP of Operations


VP of Finance

(CFO)

VP of Franchise

Development

Franchise Licensing Specialist



President/CEO

COO

VP of Operations



Administration





VP of Franchise

Sales

VP of Marketing

Director of Marketing

Director of Franchise Licensing Support (franchisee LSM)

CFO



CEO

President

Director of Operations


Administration

Director of IT

CFOVP of

MarketingVP of Business Development

VP of Field Operations





VP of Special

Projects

VP of Franchise

Sales

Case Study III

o Industry: QSRo Sector: Sub Shopso 2015 Franchised Units: 2,356

Chairman

Vice Chairman

CEO/President

VP of Treasurer

VP of SalesCorporate Secretary




Chairman

CEO/President

VP of Operations



Director of Communication

Sales Representative

Corporate Secretary

CFO

Chairman

CEO

VP of Operations



Director of Construction

Real Estate Manager


Corporate Secretary

President

Chairman

President/COO

Corporate Secretary

VP of Franchise Sales


Development

VP of Operations

Director of Finance





Chairman

President

Corporate Secretary

CFOVP of

Strategic Operations

VP of Franchise Sales


Development

VP of Operations

Director of IT



Real Estate Director

Case Study IV

o Industry: Health and Fitnesso Sector: Fitness Centerso 2015 Franchised Units: 2,090


CEO

VP/CFO

President/CEO

VP/CFO VP of SalesDirector of Operations

President/CEO

VP/CFO



President/CEO

VP/CFO VP of Sales


COO


Director of Franchise Support

Support Specialist/Media Representative

President/CEO

VP/CFO VP of Sales


Sales Support Specialist

Preferred Vendor

Specialist

VP of Support COO


Marketing Support

Specialist

Operations Specialist Support



Reaching Recurring Revenue Self-Sufficiency

-$1,000

-$500

$0

$500

$1,000

$1,500

$2,000

$2,500

Start-Up At 50+ Units At 100+ Units At 300+ Units At 500 Units

Tho

usa

nd

sSelf-Sufficiency Gap

Note: based on case study brands.

What does this mean to me?• Where do I fit in?

• What do I need to do to GRADUATE to Growth Phase?

– Compelling unit economics

– Recurring revenue self-sufficiency or reserves sufficient for growth infrastructure

– Banks asking if they can finance my franchisees

– Proof of concept: At least 10?? franchised units with the same unit offering operating profitably for at least 4 years

– Franchisor people functions and internal systems prepared for growth

FRANdata is the only source of comprehensive information about franchising:

Fact-based research and analysis

World's largest database of franchise information

Tracks and analyzes more than 3,500 brands in 30 sectors and 235 industries

Manages SBA Franchise Registry

FRANdata ‘s capabilities are unique in the franchise world

Custom Research: Addresses questions/needs with timely analysis

Reports: Data, analysis, trend forecasts

Complete objectivity: FRANdatareceives no advertising or referral fees

FranHack Outcomes

– Participants “Hack” his/her biggest problem to best help them move faster towards recurring revenue self-sufficiency, as a primary topic area. Other topics are also possible based on preparation.

– Advisors and peers share experiences in an intense, fast problem solving process to initiate ACTION towards a goal, and they experience a process that can be replicated.

– Participants’ have direct access to a new network

Process- 15 mins. each

• 2-3 minutes state problem” How To” and ask for clarification: Timekeeper & Note taker

• 10 minutes: CRISP- write it down so its clear go around the table and get inp t & experiences on the problem “ In my experience” if not from experience, state it . Passing is 100% acceptable.

• 2-3 minutes: Participant validates 1-2 big learning points and DECIDE on 1-2 potential actions based on learning

Bootcamp Outcomes & Agenda

Long term: • Lifetime network enhanced or initiated• Accelerate towards reach key goals or recurring revenue self-sufficiency

3 Hour Bootcamp Outcomes: At least 3 actions you will apply.• Part 1: 1-2 applicable tactics & strategies from Shelly Sun’s growth story and participants have

desired questions answered

• Part 2: 1-2 insights and new approaches to ID where you are on your growth lifecycle and move to next cycle and recurring revenue self-sufficiency

• Part 3 : FranHack – RFE Request for Experience 1-2 actions - Participants “Hack” his/her biggest problem to best help them move faster towards recurring revenue self-sufficiency or another key problem

Documents

Bootcamp Outcomes & Agenda - Franchise.org Franchisor... · Bootcamp Outcomes & Agenda ... • Power and credibility of company-owned unit(s) ... • One to two-week action items