The FBA is committed to evolving alongside the dynamic franchising industry. Our mission is to provide the most effective, accurate tools and systems to highlight and celebrate the achievements of our members.
That means—when the industry changes, so do we, ensuring that our practices effectively serve you.
Leaderboard Updates
Our commitment to recognizing the efforts of our members has led us to refine our approach to the leaderboard. We acknowledge the evolving landscape of our industry, particularly the increasing adoption of Broker agents. It became apparent that awarding Brokers twice for the same achievements was not exactly a fair race.
Now, a standout feature of the FBA is a system that facilitates collaboration between Brokers and agents in a way that’s compliant with industry standards.
How Submit a Deal (Updated Leaderboard):
- Submit a Deal: Enter the details of your closed deal as you normally would.
- Co-brokered Deals: For deals co-brokered with agents, select ‘yes’ under “Closed with an FBA Co-Broker”
- Brokerage Information: Include the names and contribution percentages of the Brokers/agents you’ve worked with.
- Financial Details: Enter the franchise/license fee as usual.
- Automatic Allocation: The system calculates and properly distributes the amount among the involved parties based on the specified percentages.
This approach not only highlights the value of collaboration but also ensures fairness and transparency in recognizing each member’s contribution.
Awards Revamp
If you don’t already know, this year’s Conference theme is “Rise Up.” As part of our mission to elevate our members, we’re introducing and revising award categories at this year’s FBCE and beyond. This includes:
- Continuing the ‘Influencer of the Year’ award, which continues to honor Brokers who significantly impact our membership and the wider industry.
- The transition from ‘Top Broker Units’ to ‘Top Brokerage Volume’, emphasizes the overall impact rather than just the number of units.
- The ‘Emerging Brand’ award is now the ‘One to Watch’, designed to highlight franchises that are innovating, setting trends, and making significant strides in franchising.
- Removing the ‘Top Franchise‘ award as historically it’s been based on units and we’ve found that franchisors would rather be rewarded in other ways.
We look forward to celebrating our Members at our upcoming 2024 Conference. If you haven’t already, please register here.Â
Appreciation and Ongoing Engagement
As we implement these updates, we thank you for your patience, support, and comprehensive feedback. We look forward to keeping you in the loop with more things to come—so keep your notifications ON!