In the second session of “How to Sell These Brands, Season 2,” host and FBA Broker, Beau Eckstein, emphasized a crucial aspect of successful brand pitching: preparation.
Beau candidly shared his insights, underscoring the importance of moving away from a ‘winging it’ approach towards a more professional and prepared manner. “We all could benefit from being professional and prepared in the pitching process” he remarked. “Seeing other Broker’s presentations and not winging it is a big takeaway from our sessions. If we do the preparation in advance, our close rates are going to be a lot higher.”
He also highlighted the value of these mentoring sessions for all Brokers, regardless of their level of experience. “If you’re not doing $200,000 plus in franchise sales, you should be spending your time attending FBA mentoring,” he advised.
For those who are newer to the industry or seeking to enhance their skills, these sessions are invaluable. Seasoned brokers often attribute success to a deep understanding of the brands they represent – a key factor in closing more sales.
Beau then introduced FBA Brokers, Robert Haar and Harjeet Tiwana, who pitched two distinguished brands: Five Star Painting and Amada Senior Care.
The Five Star Painting Pitch
Robert Haar came prepared for this pitch, showcasing his expertise in this process and understanding of Five Star Painting – a leading brand in the home improvement and painting sector. His presentation was a masterclass in aligning a franchise’s strengths with a candidate’s specific needs and interests.
Here’s a look at what was discussed:
- Focused Brand Introduction: Keeping in mind these sessions are “mock presentations,” Robert set the context of the call by emphasizing the importance of aligning the franchise’s offerings with the candidate’s financial goals and interest in the brand sector. He introduced Five Star Painting as a top contender based on the (theoretical) candidate’s assessment results.
- Neighborly Connection and Marketing Advantages: Robert detailed Five Star Painting’s association with Neighborly, highlighting the extensive network of home service brands under the development group’s umbrella. He explained how this affiliation provides significant benefits, such as the Neighborly Hub, which facilitates shared marketing across brands and enhances customer retention and spending.
- Contractor Attraction and Work Environment: A key aspect of this pitch was the franchise’s ability to attract and retain high-quality contractors. He cited timely payments, consistent job availability, and the creation of a respectful work environment as primary factors. He likened Neighborly’s approach with customer service to Amazon’s high-touch model, ensuring quality at every step of the customer experience.
- Operational and Marketing Support: Robert emphasized Five Star Painting’s robust operational support, including an in-house marketing team responsible for digital marketing and a 24/7 call center for booking appointments. This infrastructure ensures effective client engagement and a professional service experience.
- Financial Opportunities and Business Model: The presentation also covered the franchise’s financial prospects, such as the average job value and the goal of achieving significant annual revenue per territory. He then highlighted the home-based nature of the business and its potential for expansion through territory purchases, making it an appealing choice for candidates seeking a flexible and growth-oriented franchise opportunity.
- Candidate Alignment with Franchise Requirements: Connecting the candidate’s personal strengths to Five Star Painting’s requirements, Robert underscored the alignment of the candidate’s sales and planning skills with the franchise’s operational model. He concluded by reiterating the brand’s suitability for the candidate’s goals, including the low-cost entry point and high-income potential.
In the Q&A portion of this pitch, Robert answered questions about his approach to pitching brands and how/why his method has worked well for him in the past. This gave the Broker audience the chance to review their own strategy – collaboration being the key focus on these sessions.
The Amada Senior Care Pitch
Next, Harjeet Tiwana presented Amada Senior Care, adopting a sales call style approach that seamlessly mixed brand facts with engaging dialogue
Here’s a look at what was discussed:
- Overview of Services: Amada Senior Care offers a comprehensive range of services, including 24-hour in-home non-medical care, housekeeping, memory care, and medical and non-medical staffing. They also provide consulting services for assisted living and skilled nursing placement. A unique aspect of their offering is long-term care insurance and a veterans assistance program, aiding families in managing the costs of senior care.
- Training and Licensing: Harjeet explained the training process for franchisees, which involves a few weeks of virtual training, a week of field training with experienced coaches, and ongoing training for success. He also discussed the licensing requirements, noting that while individual franchises need a home care organization license, employees and territories are covered under the franchise’s single license.
- Operational and Staffing Requirements: To operate an Amada Senior Care franchise, Harjeet mentioned the need for an HR operations person and a salesperson, in addition to hiring caregivers. Each franchise territory typically encompasses around 50,000 seniors over the age of 65 who need care.
- Marketing and Client Base: He highlighted the high market demand for senior care, with each territory having the potential to reach significant numbers of seniors. To achieve success, a franchise only needs to cater to around 35 seniors, based on their average client base.
- Investment and Financials: Harjeet provided an overview of the investment required, quoting figures from the 2022 Item 7, including franchise fees and discounts for additional territories. He also detailed the advertisement fund contributions and potential first-year profits, which can range significantly depending on territory and client effort.
- Profit Scenarios: Offering a breakdown of profit scenarios, Harjeet calculated the potential earnings based on different numbers of clients and hours worked. He presented various scenarios, from serving 35 clients to 500 clients, illustrating the potential gross billings and average profits at different scales.
Harjeet’s pitch for Amada Senior Care provided attendees with a detailed and realistic look at the franchise’s operations, services, and financial potential. His approach emphasized the importance of understanding the brand thoroughly to effectively communicate its value to potential franchisees.
Join the Next Mentoring Session
The presentations on Five Star Painting and Amada Senior Care demonstrate the differences in pitching styles and provide practical insights on these GOOD franchises. However, to fully grasp these nuances and apply them in real-world scenarios, attending the sessions is key.
Register now for the next “How to Sell These Brands, Season 2” session today: https://fbamembers.com/events/one-hour-heating-air-conditioning-and-closet-factory-new-time-new-link-12-pm-et/
