“The key is not the will to win… everybody has that. It is the will to prepare to win that is important.” – Bobby Knight
If the name of the game is franchising, consider that success is often measured not just by individual achievements, but also by the strength of the team you have on your side. In any team sport, every player has a role, and the outcome depends on how well each player executes their part. The same goes for franchising.
Today’s success story came about when FBA Franchise Broker, Derek Ilich, closed a deal with N Zone Sports of America. This interview gives testament to the power of teamwork, preparation, and understanding the role of three key players in any given franchise deal: the brand, broker, and buyer.
But before we jump into the details of this won deal, let’s look at a good example of what it means to be a team player as a brand, broker, and buyer.
The Three Star Players in a Successful Franchise Deal
1. The Broker: Derek Ilich
As the facilitator of the deal, Derek brought an essential combination of coaching, guidance, and strategic planning to the pitch. You see, the role of a broker is one laden with responsibility, acting as the linchpin that connects brand and buyer. But with great power comes great responsibility, and the ability to handle this power gracefully is what sets an average broker apart from a GOOD one.
However, being a GOOD Franchise Broker doesn’t equate to just closing deals. At FBA, we often refer to the GOOD kind of brokers as “healing” people. What does this mean? Well, a healing person is someone who has embarked on a self-improvement journey, actively working on healing past hurts and evolving their perspectives. They embody wholeness and contentment, not driven by the need to fill internal voids.
Indicators of a healing mindset include:
- High levels of empathy and graciousness towards others
- Firm decision-making abilities and the readiness to face challenges
- Active engagement in personal and professional growth activities
- An energy that is comforting, steady, and grounding, indicating their self-assuredness and contentment
- Resistance to manipulation, attributed to their understanding of such intentions
All this to say, Derek’s approach was not one of force – trying to push a deal or agenda. Rather, he utilized his position of strength to foster a relationship between the brand and the buyer, ensuring all parties were aligned for a win.
The truth is, healing people are hard to find. But our logo is a compass for a reason – we find them. Derek embodies this truth.
2. The Brand: N Zone Sports of America
In the competitive landscape of sports franchise brands, being organized and having a clear business model is crucial. In fact, this is true for any franchise. Without clarity and organization, in not only the business opportunity but also the process, what is there to buy into?
N Zone Sports has carved out a niche for itself by creating a brand that brings communities together through sports. This is not an easy feat in a saturated industry. But the brand’s success lies in its ability to differentiate itself – providing a clear, tested, and proven process that makes it easy to identify the right fit for potential owners. These owners–the aligned owners–go on to make more success with the brand. Win, win.
By doing all of this, the Franchise Broker’s job becomes a smoother process. It makes it fun, too.
3. The Buyer
The buyer in this story is not your average franchisee. With a clear dream and a deep passion for sports, he took it upon himself to thoroughly research the industry and understand the dynamics of the franchising process.
This proactive approach was a key component in ensuring the success of the deal. Granted, if the buyer had not done his due diligence, a great end result still could have occurred. But the investment this particular buyer took to Derek, N Zone Sports, and the entire process made each step a little lighter.
This is the game plan people should look up to in franchising. Now, not all deals have all three key players working this well together. But the success can be attributed to the preparation from all sides. Everyone was clear. And when you’re clear and not living and working within ego and fear, decisions flow easier.
Unpacking the Deal
FBA Broker, Derek, starts off by sharing how he introduced his client to N Zone Sports. “He wanted to do something fitness related. He played soccer growing up and through college. Young, athletic, but limited investment abilities.”
Having a base understanding of his client’s goals and investment range, Derek continued the conversation.
“He wanted his own business, to control his income. So after exploring his interests and passions, it came to me that he really loved sports. Reviewing his finances led me to N Zone Sports. It matched up with a couple different things.”
On the flip side, here’s what N Zone Sports rep, Tony Westbrock, had to say about the introduction.
“He–Derek–brought us a great client. I think with N Zone Sports, one of the things you learn after 20 years of being on the franchise development side is very quickly determining whether somebody’s interest is really there,” Tony explains.
This is a live representation of team work – from all sides.
“I saw my clients eyes light up when I went through the details of what N Zone Sports was, who they were, how they operated. From then on, it caught fire. He was extremely engaged from the initial process to the introductory call with Shane and then his further conversations with Tony and his team,” Derek said.
For the full FBA interview, click here.
This conversation covers not only the key aspects of success from the perspectives of the broker and brand, but also sheds light on the added benefits and potentials that can be unlocked when these key players work in tandem with an association, such as FBA.
Learn how the unique support and resources we provide can significantly enhance the roles of the brand, broker, and buyer – ultimately contributing to the overall success and smooth operation of the franchising process.
Ongoing Success in the Franchising Journey
It’s important to note that while this success story is a significant milestone, the journey doesn’t end here. There is still much to be done for the new N Zone Sports owner, in terms of onboarding, training, and ultimately running the business. However, we are confident in his ability to leverage the support from this GOOD brand and thus thrive in his new role.
One of the main takeaways of this story is the fact that Derek, as a skilled broker, was able to successfully pair these two players together, setting the stage for a mutually beneficial relationship. The rest is in the hands of the tried and true franchising process.
But just as the journey doesn’t stop here for the buyer, it will also continue for our brand and broker.
Brokers, like Derek, have the opportunity to further their journey in franchising by attending mentoring sessions, weekly webinars, and both live and virtual events. Engaging actively on our platforms, reading our material, and living out FBA’s core values are all designed to help us thrive together.
Brands can maximize their exposure and build relationships by pitching their offerings during our webinars, sponsoring and attending events, and connecting with brokers to solidify those crucial relationships.
This is the power of team – we win together.