Shelly Sun
speaker
1,448 appearances
6 recordings
1 series
first heard Nov 2011
last heard Nov 2015
Shelly Sun’s voice in public audio — every appearance, attributed to the second.
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Appearances
Now unfortunately we've never had a litigation settlement or litigation with any franchisee, but
Um, I think our selection criteria, JD and I, because we're founders and we're both in the business and I knew I'd have to support 'em, we've had a no jerk roll um from the very beginning and so, you know, we really were diligent, even though we had two or three people who I would not want to support a year later, write checks and be demanding about us taking it that we refused and it's so hard to do.
I understand that.
Um in the early stages of franchising in particular, it's hard to turn down a check when you're trying to grow.
Um, but even with trying to do all the all the things right, you still potentially will make a mistake and get someone in as a franchisee that while not a jerk won't follow your model.
And I think for a new franchise or
even if you've only sold three or five or seven franchises, I think as early as possible and I learned this from many franchise owners that I had talked to, is as early as possible have a resale program that's robust and strong and resale agreements with with brokers to be able to help franchisees sell their business.
so that you can go to an underperforming franchisee or a difficult franchisee and and steer 'em towards a d a different path of this isn't working, but here we can help you exit.
Um and if there's not a resale program in place, just having them close their doors isn't good for the franchise or nor is it good from the franchisee for recovering some of their investment.
Well, I think I think that if you've hired for culture throughout the franchise or organization, we all get up in the morning, we all go to bed at night thinking about helping our franchisees be successful.
And when you have a franchisee that fails, I think it's um that's hard for the entire organization because it feels like
a failure.
Regardless of whether it was our failure or their failure to follow the model or use the model, it still is very hard on the employees to n to know that they lost one that they were rooting for and supporting.
And so I think there's a lot of hidden costs that go with having a franchisee fail that uh are really important to think about all of those costs.
So when you think about a you know, thirty thousand dollar franchise fee compared to the hundreds and hundreds of thousands of dollars of lost morale and lost resources and opportunity cost of, you know, putting those resources elsewhere, um, I I think it h helps set things in perspective to make sure you're not making bad short term decisions that really dramatically um
d um cause your long term potential to to be hampered.
Well, I mean just thinking about even just the chapter that you just referenced, because I think that the success of a franchise system is all about the franchisees that that are in the system.
And so I think one thing that took us a little while to figure out, but that it really serves us well today is building that franchise sales process to validate that your candidate will follow a system.
So at each stage of our sales process, we actually give homework
And so if they won't follow the homework and do what we're asking them to do before they write a check, they likely won't do so after they write a check and become a franchisee.
Showing 501–520 of 1,448 · page 26 of 73
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