In our latest session of “How to Sell These Brands, Season 2,” the group participated in pitches on two brands: Closet Factory and One Hour Heating and Air!
Beau set the stage for a session that showcased the preparation and professionalism synonymous with Million-dollar producers and introduced Amanda Vargas and Chris George – the Brokers who would lead the call.
Additionally, he highlighted the importance of diverse strategies in brand pitching. He noted that while each Broker has their unique approach, the key is always preparation and a deep understanding of each brand. In fact in these two pitches, Chris focused on the importance of understanding the client’s needs and preferences, and Amanda emphasized the value of additional research.
Let’s recap both presentations.
Pitching the Closet Factory Franchise
Chris demonstrated his thorough approach to franchising, aligning each brand with the client’s specific needs, goals, and aspirations. He underscored the importance of understanding the client’s preferences, particularly their interest in home services and desire for a brand with strong market recognition.
Chris’s strategy involves presenting multiple brands and encouraging the client to select a few for deeper exploration, including obtaining the Franchise Disclosure Document (FDD) for a comprehensive evaluation. This method allows for a detailed yet high-level overview of each brand, providing the client with enough information to make informed choices about which brands to pursue further.
Recap Chris’s presentation on Closet Factory:
- Closet Factory’s Market Position: Highlighted Closet Factory’s standing in the $11 billion home organization industry and its distinction in offering custom solutions.
- Revenue Streams and National Accounts: Discussed the brand’s multiple revenue streams and partnership with Costco, providing an additional channel for customer attraction.
- Scalability and Employee Structure: Emphasized the scalability of the business and the structure of employing designers and installers.
- Impressive Financial Performance: Shared financial figures from the FDD, showcasing the brand’s strong median revenue and top performer earnings.
- Exclusive Territory Ownership: Focused on the advantage of owning a large exclusive territory for a single franchise fee, reducing initial investment costs.
- Quality Control and Customer Service: Stressed Closet Factory’s commitment to quality control and customer service, ensuring brand representation throughout the customer journey.
Post presentation, the floor opened for feedback. “I just want to say something. We’ve tried different ways to present, and I agree that PowerPoint has been the easiest to present but the hardest to put together. As you scale your business, finding time for this can be challenging. It’s crucial to find a comfortable presentation style that works for you and is effective.
For example, one of our Million-dollar Brokers hired someone to create his PowerPoint presentations due to his large pipeline. I don’t have that ability yet, so I utilize the resources we have. Ultimately, it’s about understanding your client and showing them why you selected that franchise. Chris did an excellent job of this, focusing on relevant aspects of the business that matched the client’s criteria, which is crucial. So, Chris, you get an A-plus for your presentation. Thank you for your efforts,” Amanda commented.
Pitching the One Hour Heating and Air Franchise
On this mentoring call, Amanda then presented the One Hour Heating and Air franchise, tailoring her pitch to the specific needs and criteria of her client, who works at Hubspot and is seeking a potentially semi-absentee business.
Her approach typically focuses on providing a high-level overview of the brand, emphasizing its recession-proof nature and sustainable business model.
Recap Amanda’s presentation on One Hour Heating and Air:
- One Hour Heating and Air Overview: Highlighted the brand’s long-standing presence in the HVAC industry, its emergency services, residential and commercial services, and high-ticket items that contribute to substantial revenue per territory.
- Franchise System vs. Independent Businesses: Emphasized the advantages of the franchise system over independent HVAC businesses, particularly in scalability, marketing, and customer service.
- Establishment and Market Position: One Hour Heating and Air has been operational since 2003, with a strong franchisee base and territories sold out in several states.
- Investment and Conversion Model Details: Discussed the investment range for starting a new territory and clarified the distinction between conversion and regular models.
- Semi-Absentee Ownership Structure: Explained the semi-absentee ownership model, including recruiting support and managing a general manager.
- Licensing and Business Operation: Clarified licensing requirements and the brand’s support in finding licensed personnel, making it accessible for individuals without HVAC experience.
- Financial Performance and Item 19 Insights: Shared average revenue figures from the FDD, comparing it to other industries and emphasizing the potential for high returns on investment.
- Client’s Vision and Day-to-Day Involvement: Encouraged the client to envision the day-to-day management of the business, highlighting the brand’s support in marketing, customer service, and employee management.
Amanda had one more closing remark, “Your confidence in this step is crucial. You have to show a lot of enthusiasm when presenting each franchise. If I’m not familiar with a franchise or haven’t closed a deal with them, it can be challenging to sound enthusiastic. For example, last week, I had a client interested in food and beverage concepts, which are not my forte. It was hard for me to get excited while presenting. However, I still try to convey energy and show why I think a franchise is a great fit. In some cases, if I’m unsure about a brand, I’ll explain why I’m presenting it but ask for the client’s feedback. This way, it’s more of a conversation, even if I don’t share the same level of enthusiasm as with other brands I’m more confident about.”
Join us for the Next Session
To close out, Beau expressed appreciation for the diverse approaches showcased in this session and previous mentoring calls.
He remarked, “Everyone has a different process in how they close and sell. That’s why attending these Wednesday sessions is so important. It’s a learning opportunity for all of us. As Amanda taught us early in mentoring, learning about at least two brands per week is key, and this session helps achieve that goal. Plus, presenting in front of a group improves our skills and helps overcome nervousness. It’s a win-win for everyone involved.“
Once again, thank you to all the Brokers who attended! Be sure to register for the next Wednesday session at 12 PM EST: https://fbamembers.com/events/how-to-sell-this-brand-stumpys-hatchet-house-and-that-1-painter-new-time-new-link-12-pm-et/