Franchise Business Real Talk

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Greg Mohr aka the ‘Franchise Maven’, is a seasoned franchise consultant specializing in helping individuals and couples find and buy the right franchise through personalized consultations and expert guidance. With a career dedicated to the franchising industry, he offers deep insights and strategic advice to aspiring entrepreneurs.
In this episode, we have the pleasure of delving deep into the world of franchising with the expertise of Greg Mohr, a seasoned IFPG franchise consultant and bestselling author. Greg shares his valuable insights into the franchising process, his transition from the corporate grind to the autonomy of franchising, and how others can do the same.
Guy questions Greg on his approach with potential franchisees, which involves a detailed questionnaire, interactive discussions, and finding the ideal match between franchise opportunities and prospects. They discuss the merits of franchising including its supportive nature and potential for wealth-building, with ample room for freedom and autonomy even for those who are currently employed elsewhere.
Moreover, we’ll explore the significant support franchisors provide in areas like marketing and operations, and why franchising could be more attractive than going at it alone in the small business world.
Takeaways

1. Commit time to explore franchising opportunities.
2. Choose a franchise that matches your goals.
3. Use consultants to navigate franchising.

Quote
“Franchising is not for everybody. So learning about that franchise system is what it's all about." -Greg Mohr
Timestamps
00:00 Introduction and Greg Mohr's background in franchising.
03:25 Understanding the time investment for potential franchisees.
07:00 The right fit between franchisors and franchisees.
12:15 The potential for wealth and freedom in franchising.
17:00 How to get involved in franchising without leaving your job.
22:40 The mutual selection process in franchising agreements.
27:35 Horizontal and territorial growth opportunities.
32:10 The long-term benefits of working with a franchise consultant.
Connect with Greg Mohr:
LinkedIn: www.linkedin.com/in/gregorykmohrWebsite: www.franchisemaven.com | www.ifpg.orgBook: www.amazon.com/dp/B09WC963Q8

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey

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Liz Strikwerda is the Content Marketing Strategist of TrueLark, an AI-led platform helping businesses grow at scale and increase revenue by booking more appointments, improve retention by providing 24/7 customer support, automate as much of customer experience as possible across hundreds of locations, and multiple channels, in real-time.
In this episode of Franchise Biz Real Talk, Guy Coffee sits down with Liz Strikwerda, who shares her insights into how technology, automation, and strategic partnerships have helped franchise businesses thrive.
Liz Strikwerda highlights the importance of quick, efficient, and smart communication with their customers. They discuss the use of TrueLark, an AI-powered tool that provides answers to common questions, such as hours, directions, and appointment availability. She views TrueLark as a partner rather than just a vendor, as they have provided training support and testimonials for their franchise owners.
They also talk about the significance of appointment management in their business and how technology can prevent missed opportunities and wasted resources. The episode delved into the challenges and successes of Frenchies Nail Care, including their franchise expansion despite the impact of the Covid-19 pandemic. Liz emphasizes the importance of the client experience cycle and personalized communication in the beauty industry.
Join Guy Coffey and Liz Strikwerda as they discuss the role of technology, automation, and strategic partnerships in growing a successful franchise business.
Takeaways:

1. Utilize technology and automation to streamline processes.
2. Tailor promotions to individual client needs.
3. Cultivate strong partnerships with technology partners.

Quote:
“Just hang on when things seem a little like you have challenges." -Liz Strikwerda
Connect:
Liz Strikwerda
LinkedIn: www.linkedin.com/in/liz-strikwerda-0968a261
Website: www.truelark.com
Guy Coffee
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.frenchiesnails.com
Instagram: @guycoffey

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey

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Dale Willerton is the Founder and Lease Consultant of The Lease Coach, North America's #1 Authority on commercial lease negotiating for tenants and has been working exclusively for commercial tenants since 1993. He is also the author of the book ‘Negotiating Commercial Leases & Renewals for Dummies’.
In this episode of Franchise Biz Real Talk, Guy Coffee sits down with Dale Willerton, the lease coach and author of "Commercial Lease Negotiations for Dummies." Dale shares his expertise and insights into the world of lease negotiations, specifically focusing on lease renewals.
Dale begins by discussing the challenges of negotiating lease agreements, drawing from his experience working with Anytime Fitness clubs. He highlights the importance of understanding the timeline for opening a new store, especially in a post-pandemic world where delays are common. Dale Willerton also emphasizes the need for a floating commencement date to mitigate issues caused by contractors, permitting problems, and equipment unavailability.
They also delved into the benefits of lease renewals and how they can significantly impact a business's bottom line performance. Dale Willerton emphasizes the significance of negotiating lease renewals as if dealing with a new tenant, seeking benefits such as free rent and tenant allowance. He shares real-life examples of businesses that successfully negotiated improved lease terms, including a case where a proactive approach led to a lower base rental rate and tenant improvement money being offered by the landlord without being asked.
Throughout the episode, Guy Coffey and Dale Willerton exchange valuable insights on the lease negotiation process, debunk common misconceptions, and highlight the importance of working with professionals like Dale to secure favorable lease agreements. Join us to gain a deeper understanding of the intricacies of commercial lease negotiations, learn valuable tips and strategies to navigate lease renewals, and be inspired to take a proactive approach in securing better lease agreements for their businesses.
Takeaways

1. Approach Lease Renewals with a Fresh Perspective.
2. Understand the Power of Timing.
3. Working with Professionals Yields Positive Results.

Quote
“It's better to have a brand new lease than to take over someone's old lease." -Dale Willerton
Connect:
Dale Willerton
LinkedIn: www.linkedin.com/in/dale-willerton-2a1188238
Website: www.theleasecoach.com
Guy Coffee
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.frenchiesnails.com
Instagram: @guycoffey

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey

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Jeremy Pourbaix is the CEO of Franchise Flippers, the world’s premier franchise resale marketplace where serious franchise enthusiasts connect to buy, build, and sell franchises. With nearly two decades of high achievement and growth in the franchise industry, Jeremy has a wealth of experience as a franchisee, area developer, and adviser.
Today, Jeremy shares with us the ins and outs of their exclusive franchise resale marketplace, the significance of value assessments, and the critical "franchise on ramp" evaluation to help prospective franchise owners.
We delve into the essential elements driving franchise value, even for those not looking to sell immediately, and highlight the importance of setting and tracking aspirational targets. Plus, we discuss the healthy turnover phenomena in franchise brands and how Franchise Flippers can act as an outsourced resale department, particularly beneficial for emerging franchisors.
Takeaways

1. Regularly assess franchise value.
2. Proactively manage franchisee turnover.
3. Evaluate readiness before pursuing franchise ownership.

Quote
“It is really important to understand what drives value." -Jeremy Pourbaix
Timestamps:
00:00 - Franchise growth, sales, and improvement
05:38 - Congratulating franchise on growth and success
08:30 - Prospective Buyers
08:35 - Franchise resale marketplace and valuations
09:58 - Evaluating franchise fit and readiness
14:00 - Prospective Sellers
14:10 - Understanding franchise valuation
18:17 - Private equity review process
21:54 - Franchise value as a changing target
23:35 - Franchise resale and assistance opportunities
28:35 - Emerging Franchisors
28:37 - Importance of franchisor support
29:48 - Healthy franchise transfers, expert advice
Connect with Jeremy Pourbaix
Website | LinkedIn
Prospective Franchisees → www.franchiseflippers.com/buyer-on-ramp

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey

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Doug Mark is the President and Brand Ambassador for LearningZen, known as Franchising's Best LMS, and hosts the Five Franchising Questions Podcast. He leads the development of LearningZen's low-cost, easy-to-use online training platform, which allows users to create or modify interactive courses complete with exams, reporting, certifications, and collaborative tools, effectively revolutionizing franchise training.
In today's episode, we delve into the power of technology in franchise training and development. We have the pleasure of bringing in an expert from Learning Zen—Doug Mark, who unravels the significant role of his learning management system during the COVID-19 pandemic and beyond.
Doug shares his rich background in computer systems management and his journey with Gold Systems Incorporated, before highlighting how video technology and AI tools like in video and LumaOne are revolutionizing the franchise world. The conversation leads to a robust discussion of how consistent training can impact service revenue and why Learning Zen's approach to franchising education is critical for scaling businesses.
Takeaways

1. Use AI and video to enhance training.
2. Effective training boosts franchise success.
3. Collaborate for better product development.

Quote
“I think people really forget that at the end of the day, franchisees are small business owners." -Doug Mark
Timestamps
03:15 The rise of video in franchise training
10:30 Doug’s background and the FAA project
14:00 Post-COVID franchise growth and support
20:25 Advisory committee's role in Learning Zen
28:45 “Five Franchising Questions” Podcast and “Fast Five”
33:00 AI tools and features
39:10 Evolution into a franchising-focused platform
45:00 Importance of training
Connect with Doug Mark:
LinkedIn: www.linkedin.com/in/doug-mark-649866a
Website: www.learningzen.com

Connect with Guy Coffey:
LinkedIn: www.linkedin.com/in/guycoffey
Website: www.guycoffey.com
Instagram: @guycoffeyYouTube: @guycoffey