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The sixth session of The Franchise Formula Internet Seminars, with Ryan Cunningham, president of Javelin Solutions, featured insightful ways to enhance your franchisees' real estate selections.
Below is the link to access the recording of the call. Enter your name to hear/view everything. By moving your cursor over the half-moon on the left, all of the slides will appear. Click on any and you can skip ahead to that point in the presentation:
https://www.callinfo.com/archives/playback.jsp?id=4jda5eup
Additional instructions in case you need help accessing are available at:
https://www.callinfo.com/help/ArchivePlaybackInfo.html
Here are some of the key points Ryan discussed during this 60-minute Webinar:
- Predictive Results - Site selection is one of the most critical success factors for a franchise system.
- Manage The Process - Franchisees are not real estate experts: They require significant support to find the right site. Otherwise, they are like inexperienced car buyers who pay sticker price.
- Credit Crunch - Having a strong balance sheet and solid credit are essential to franchisees' securing prime sites. Those who use all their resources to purchase the franchise are at risk of not meeting necessary requirements.
- Reverse Psychology - Contrary to what you might think, a franchisee is the seller, not the buyer in the site selection process. It's important to help brokers understand how having your concept in their location will benefit them.
- Changing Mentality - The "old school" approach was for franchisors to remain on the sidelines during site selections, in case of legal issues down the road. Today, engaging in the process could actually benefit you in a dispute.
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