Michelle Rowan

speaker

294 appearances 1 recordings 1 series first heard Nov 2014 last heard Nov 2014

Michelle Rowan’s voice in public audio — every appearance, attributed to the second.

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Franchise Today · Satisfaction & Validation - Key Components to Franchise Success · 12 Nov 2014 podcast

So I know the IFA has stats on how many brands come out every year, and some of them are coming out into very saturated segments of franchising like food, QSR.

I mean, there's a million brands in there.

And then, you know, there's these new sectors like the paint and sip sector, and that's a new kind of activity that people are doing.

And there's probably four or five franchise brands I can think of right off the bat that are there.

So I think...

The same good or best practices go towards small and large franchise systems on how you should grow or how you should do it.

But I think what we saw when we did the editorial piece of The Emerging and talking to the CEOs of those brands are, what do they do that sets them apart from their competition or those big guys that are in their area?

The CEOs of the top systems were saying that they are always focused on the business side of their model on the expenses.

They're always looking at what are the expenses for their franchisees, how can they lower them, how do they improve unit profitability, because that's how you make sure that you have a solid system that continues growing.

And that goes beyond, you know, making sure it's scalable.

But one person that we talked to, Nancy from Bottle and Bottega, was talking about how they brought in a real estate expert on staff that was just focused on finding the right leases at the right price because that was the biggest expense for their new franchisees.

And the most important thing for their franchisees was to get up and running as quickly as possible.

So, I mean, that's something you could outsource or bring on staff, but that's one of the things that she's focused on that expense side for her franchisees.

Yeah,

then I think that the smaller brands that are doing it well, they're selling based on the experience of the individuals on their corporate team.

So they're talking about where they were before or what kind of success they've had.

And you have to be able to kind of show how a lean and mean corporate staff gets things done because you don't have the budget that the big boys have or the well-established brands have.

So what are you doing with that?

the resources that you have.

And really, you have to build a solid business and have a solid reputation so that you're still here in 10 years when other people start faltering and disappearing.

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