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  • Other Added - How to Make the Most of Franchise Exhibitions

    Create Your Own Referral Sales Force
    Joining referral networks or local chamber groups can be a great way to help you network and generate referrals. The most powerful way to use this strategy, however, is to grow your own.Almost any business can benefit from having a group of trusted providers effectively marketing your business like a referral sales force. When you build your own private referral network your business benefits in two very powerful ways: you experience an increase in leads and you have additional resource to bring to your client relationships. In some cases, this second benefit may produce the greatest long-term impact of this approach.How to build itThe key to building your own referral network is to focus on developing relationships with businesses you can believe in thoroughly. I would suggest that the first consideration should always be - what can this
    an impression of the management of those franchises, all the while retaining a level of detachment sufficient to avoid being swept up in the hype and enthusiasm. Franchise exhibitions should be treated as part of your franchise research, not the whole, and wise visitors will set aside a whole day to visit as many stands and talk to as many franchisors as possible. By approaching the event with a strategy, perhaps sitting down with a copy of the expo catalogue when you ar
    Wrongful Termination: Were You Wrongfully Terminated?
    Wrongful termination can be a devastating experience that not only affects your career in the short term but can also affect your ability to get back on your feet and find a new job.Firstly, your specific job and the employment contract that you signed and the local employment laws that govern where you live may largely determine whether or not you are a victim of wrongful termination.For example, if you signed a confidentiality agreement and there is verifiable proof that you violated this aspect of your agreement, this would most likely be a legitimate example of being fired for cause ie. the company had the right to fire you.Another example would be if you were caught stealing from your employer.But what if the circumstances regarding your termination aren’t as clear?Often when an employee is fired, it might be on the bas
    Hand in hand with specialist publications and websites, franchise exhibitions are a useful addition to your franchise research arsenal. After all, when else will you get the chance to meet and compare the head office teams of so many franchise brands in such a short space of time?

    Although franchisor attendance of exhibitions is on the decline as franchisors switch their funding toward web and print-based recruitment drives (only 21 per cent of franchisors rate franchise exhibitions as the most useful method of recruiting franchisees according to the 2005 NatWest/British Franchise Association UK Franchise Survey), the forthcoming National Franchise Exhibition (7th-8th October at the NEC, Birmingham) still expects to draw in excess of 250 brands. These companies operate in fields as diverse as quick service restaurants, high street retail, health & fitness, lettings & estate agency, driver hire agency and domestic & commercial cleaning.

    Each of these brands will be spending thousands of pounds to set out their stall to potential franchisees. In addition to the cost of booking exhibition stand space, exhibitors have invested capital in creating a highly colourful and branded stand, devoted time, travelling and hotel expenses to moving themselves and their staff to the event for its duration and possibly commissioned a promotional campaign in the national and franchise press to publicise their involvement. All this investment creates a highly charged and competitive selling atmosphere, with the onus on the staff manning the stands to achieve the franchisor's ambitious targets for the number of prospects conversed with and registered for further contact.

    This pressured environment can be intimidating, so keep in mind your goals: to identify a number of promising opportunities that deserve further investigation after the event and to meet and gain an impression of the management of those franchises, all the while retaining a level of detachment sufficient to avoid being swept up in the hype and enthusiasm. Franchise exhibitions should be treated as part of your franchise research, not the whole, and wise visitors will set aside a whole day to visit as many stands and talk to as many franchisors as possible. By approaching the event with a strategy, perhaps sitting down with a copy of the expo catalogue when you ar
    The Logic of Emotion!
    Homebuyers are an interesting study. Watching people make their home buying decisions has brought me to the conclusion that every decision that every one of us makes is based in emotion. You heard me, it's all about the emotion. Before you deny what I am describing to you, let me begin with me.Painful as the revelation is for me, even I as a Naval Academy graduate, retired Navy pilot, and home inspector extraordinaire, make decisions based on emotion. It took some bridging for me to get there, but I am there.Have you ever had a feeling in your gut about a decision? A hunch? That's emotion. We make decisions that reflect how we feel about the event or expect to feel when the outcome is completed. People, especially those that are highly educated and technically trained, rarely realize and usually never concede that their decisions are based in em
    ranchise exhibitions as the most useful method of recruiting franchisees according to the 2005 NatWest/British Franchise Association UK Franchise Survey), the forthcoming National Franchise Exhibition (7th-8th October at the NEC, Birmingham) still expects to draw in excess of 250 brands. These companies operate in fields as diverse as quick service restaurants, high street retail, health & fitness, lettings & estate agency, driver hire agency and domestic & commercial cleaning.

    Each of these brands will be spending thousands of pounds to set out their stall to potential franchisees. In addition to the cost of booking exhibition stand space, exhibitors have invested capital in creating a highly colourful and branded stand, devoted time, travelling and hotel expenses to moving themselves and their staff to the event for its duration and possibly commissioned a promotional campaign in the national and franchise press to publicise their involvement. All this investment creates a highly charged and competitive selling atmosphere, with the onus on the staff manning the stands to achieve the franchisor's ambitious targets for the number of prospects conversed with and registered for further contact.

    This pressured environment can be intimidating, so keep in mind your goals: to identify a number of promising opportunities that deserve further investigation after the event and to meet and gain an impression of the management of those franchises, all the while retaining a level of detachment sufficient to avoid being swept up in the hype and enthusiasm. Franchise exhibitions should be treated as part of your franchise research, not the whole, and wise visitors will set aside a whole day to visit as many stands and talk to as many franchisors as possible. By approaching the event with a strategy, perhaps sitting down with a copy of the expo catalogue when you ar
    An Interchange Plus Pricing Structure Can Greatly Reduce Your Monthly Credit Card Processing Fees
    Traditionally small to mid sized businesses have been set up with what is called multi-tier pricing for their credit card processing. This system is usually set up with three tiers (qualified, mid-qualified, and non-qualifed.) Occassionally, if the business owner has negotiated well, there will be a fourth tier for qualified offline debit cards. While this system has worked well for many years, the increasing number of rewards and corporate cards being issued has made this type of pricing obsolete.Visa and Mastercard have many different interchange categories for the multiple card types that are issued. Tier pricing takes a large number of these categories and lumps them into one of the three tier buckets available to the merchant. If the merchant only ever takes standard credit cards then this system will work well for them. Once they start to s
    ning.

    Each of these brands will be spending thousands of pounds to set out their stall to potential franchisees. In addition to the cost of booking exhibition stand space, exhibitors have invested capital in creating a highly colourful and branded stand, devoted time, travelling and hotel expenses to moving themselves and their staff to the event for its duration and possibly commissioned a promotional campaign in the national and franchise press to publicise their involvement. All this investment creates a highly charged and competitive selling atmosphere, with the onus on the staff manning the stands to achieve the franchisor's ambitious targets for the number of prospects conversed with and registered for further contact.

    This pressured environment can be intimidating, so keep in mind your goals: to identify a number of promising opportunities that deserve further investigation after the event and to meet and gain an impression of the management of those franchises, all the while retaining a level of detachment sufficient to avoid being swept up in the hype and enthusiasm. Franchise exhibitions should be treated as part of your franchise research, not the whole, and wise visitors will set aside a whole day to visit as many stands and talk to as many franchisors as possible. By approaching the event with a strategy, perhaps sitting down with a copy of the expo catalogue when you ar
    Selecting a Business Broker - Look Out for these Red Flags
    Last week I got a call from a business owner who had decided to sell his business. He and his partners were beginning the beauty contest phase of selecting a firm to represent them in the sale. His partners had begun discussions with a merger and acquisition advisory firm. He had followed up with this firm prior to calling us and had questioned them on several issues. He shared his findings with me and asked my opinion. Generally I subscribe to my old IBM training and will not disparage a competitor, however, some of the answers were alarming to me so I elected not to withhold my opinions.The first red flag was that this competitor required a large up-front engagement fee. I certainly have no problem with Merrill Lynch or Goldman Sachs charging their up front fees to their fortune 1000 clients. These firms are a proven commodity with a proven process.
    eir involvement. All this investment creates a highly charged and competitive selling atmosphere, with the onus on the staff manning the stands to achieve the franchisor's ambitious targets for the number of prospects conversed with and registered for further contact.

    This pressured environment can be intimidating, so keep in mind your goals: to identify a number of promising opportunities that deserve further investigation after the event and to meet and gain an impression of the management of those franchises, all the while retaining a level of detachment sufficient to avoid being swept up in the hype and enthusiasm. Franchise exhibitions should be treated as part of your franchise research, not the whole, and wise visitors will set aside a whole day to visit as many stands and talk to as many franchisors as possible. By approaching the event with a strategy, perhaps sitting down with a copy of the expo catalogue when you ar
    Passion
    Passion is your fuel. It motivates you to press on. It propels you up the mountain of your dreams and goals. Have a passion for life, for people, for animals, for your causes and your convictions, and you will be nearly unstoppable. Be a champion for those who have great needs and can’t do anything about it themselves. Speak with passion, teach with passion, lead with passion, love with passion, play with passion, and enjoy with passion. Someone who is passionate is intriguing to watch and to listen to. They are usually energizing to be around.They put great care into each and every detail of what they have passion for. A passionate musician plays a piece over and over until it is perfection for her and the audience. Each sound is perfectly crafted and resonates purely, hauntingly, and brilliantly. Every song on the album may
    an impression of the management of those franchises, all the while retaining a level of detachment sufficient to avoid being swept up in the hype and enthusiasm. Franchise exhibitions should be treated as part of your franchise research, not the whole, and wise visitors will set aside a whole day to visit as many stands and talk to as many franchisors as possible. By approaching the event with a strategy, perhaps sitting down with a copy of the expo catalogue when you arrive and identifying your 'must sees', you'll have a better chance of coming away from the event satisfied that you have gained an accurate picture of the range of opportunities you want to explore. A full calendar of UK and international franchise exhibitions has been compiled by the franchise consultancy FDS and is available on their website: http://www.franchise-group.com/exhibition_calendar.htm

    THE TWO-WAY INTERVIEW
    Meetings between franchisors and potential franchisees are often described as two-way interviews, and this is the best way to approach franchisor exhibitors. You are both gauging each other's potential as a partner in a franchise relationship, and you must strive to maintain a balanced approach to the meeting.

    On the one hand, you are attempting to discern the details of the franchise and the philosophy of the management team from your meeting, which may not be with a member of the management. Arm yourself with a list of questions before the event to ensure you make the most of this opportunity - an excellent crib list of questions is The Franchise Magazine's Franchise Guidance Checklist.

    On the other, the person you are talking to is charged with evaluating you. Do you have the capital investment that you claim? Do you have what it takes to operate the franchised business, and conform to the corporate values of the concept? Are you capable of making the decision to invest or unlikely to commit? It is possible they may misread your intentions and not class you as a genuine prospect, in which case they'll be quick to ask you to fill in a registration card for possible follow-up after the exhibition and seek to devote their time to meeting with more promising stand visitors. If your interest in the opportunity is sincere, make this clear and request that you receive the attention your serious interest deserves.

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