This week of Broker mentoring offered a wealth of knowledge across three interconnected segments: Advanced Mentoring, How to Sell These Brands: Season 2, and Broker FUNdamentals.
Thank you to all who attend these sessions!
When reading this recap, recall that “Advanced Mentoring” is mastering the tool every Broker needs, “How to Sell These Brands: Season 2” is practicing the tool, and “Broker FUNdamentals” is introducing the tool to your evolving toolkit.
Advanced Mentoring: Initial Calls – Do’s and Don’ts
The initial call stage sets the tone of any Broker-Client relationship. The session was designed as a comprehensive case study review, providing valuable insights on the do’s and don’ts of making those first connections.
Josh Compton, one of our seasoned Sales Coordinators, and FBA Broker T.J. Corey, shared their extensive experiences and offered tips for success.
They highlighted the importance of connecting clients with suitable franchises, leveraging the Brokers’ understanding of the clients’ parameters – such as investment range, time frame, and interests. They emphasized that Brokers’ primary goal is to ensure clients are well-informed and supported throughout the decision-making process, with no financial obligation or pressure.
Key Takeaways from the Session:
- Fostering Curiosity: Always follow up with questions to maintain the client’s interest and curiosity. This approach not only engages the client but also allows Brokers to uncover deeper insights into their motivations and potential concerns.
- Finding Common Ground: Establishing a connection based on similarities, such as location, background, or work experience, can significantly enhance the rapport between Broker and Client. Demonstrating that you are relatable and approachable breaks down barriers and encourages clients to open up about their insecurities and goals.
- The Human Element: Remembering that both Brokers and Clients are people first, with unique stories and experiences, fosters a more genuine and productive conversation. Showing empathy and understanding can pave the way for a more meaningful and trust-based relationship.
For full insights, please join us Monday at 12 PM EST: https://fbamembers.com/events/calendar/advanced-brokering/
How to Sell These Brands: Jantize America
In this week’s “How to Sell These Brands” session, FBA Broker Wayne Angel started us off, showcasing Jantize America, focusing on its distinctive area developer model.
Wayne’s approach was to prepare candidates with essential documents and clarity on the franchise’s financial aspects, especially highlighting that the franchise fee is included in the investment range.
A few Takeaways from Wayne’s Presentation:
- Unique Model: Jantize America employs an area developer model, where developers sell unit franchises and secure cleaning contracts, making it ideal for those with strong sales skills.
- Diverse Income Streams: Area developers benefit from various revenue sources, including unit franchise sales, royalties, marketing fees, and equipment and supply sales.
- Financial Structure: Wayne explained the royalty structure, where area developers retain a significant portion of the fees, underscoring the financial advantages of partnering with Jantize.
- Success Examples: He cited the network’s growth, with 8 area developers and 177 operating units, illustrating the brand’s potential for profitability.
- Matching Skills to Opportunity: The franchise is well-suited for individuals with a background in sales and marketing, offering them an opportunity to thrive using this skillset.
This pitch on Jantize America highlights how Brokers can effectively introduce franchise opportunities, emphasizing the brand’s unique aspects, transparent financial details, and candidate engagement to facilitate successful matches.
How to Sell These Brands: Signworld
Up next was FBA Broker, Maria Rogers, introducing Signworld, a distinct business model that differs from traditional franchising.
A few Takeaways from Maria’s Presentation:
- Business Owner Alliance: Signworld operates not as a franchise but as a Business Owners Alliance, offering a no-royalty, no-franchise-fee model. This allows business owners to benefit from collective support and training without the ongoing costs typically associated with franchises.
- Comprehensive Support: Despite the absence of royalties, Signworld provides extensive support in real estate, HR, and training. Their HR department assists in hiring essential staff like graphic designers and sales teams, starting lean with one to two employees initially.
- Operational Insights: The required operational space is about 2,000 to 2,500 square feet, focusing more on office to warehouse space to accommodate the light manufacturing of signs without the need for high foot traffic retail locations.
- Business Essentials: Signworld emphasizes that it’s a clean business operation, devoid of chemical use, appealing to candidates concerned about the environmental aspect of their business.
- Market Potential: Highlighting the vast market need, Maria shared that over 5 million new businesses were started last year alone, each requiring signage, showcasing the essential and enduring demand for Signworld’s services.
- Customization and Flexibility: Owners have the autonomy to name their business, define its culture, and set schedules, offering a balance between entrepreneurial independence and structured support.
- Community and Collaboration: Signworld boasts a strong community with over 360 owners who assist each other in larger projects, sharing resources, and expertise, fostering a collaborative business environment.
- Training and Meetings: With more than 30 scheduled meetings a month, Signworld ensures ongoing peer and corporate support, maintaining the franchise-like support without the associated fees.
Maria’s presentation highlighted Signworld’s unique offering to combine the independence of owning a business with the support system of a franchise, appealing to candidates looking for an opportunity with extensive backing and a strong community network… and, in a way that’s clean.
For full insights, please join us Wednesday at 12 PM EST: https://fbamembers.com/events/calendar/how-to-sell-this-brand/
Broker FUNdamentals: Research & Preparation
Upcoming Session: Friday, February 16, 2024, at 2:00 PM ET
For Franchise Brokers, the ability to conduct thorough research and preparation is not optional.
The upcoming Broker FUNdamentals session will focus on enhancing these crucial skills, ensuring Brokers can effectively curate and present a list of brands tailored to their clients’ goals.
Why Attend?
- Improved Efficiency: Learn strategies to streamline your research process, allowing you to identify potential brands quickly and accurately.
- Enhanced Client Trust: Demonstrating in-depth knowledge and preparation builds credibility and trust with your clients, crucial for long-term relationships.
- Customized Presentations: Gain insights on tailoring your brand presentations to match your client’s specific criteria, increasing the likelihood of a successful match.
- Avoid Common Pitfalls: Understand the common mistakes in the research process and how to avoid them, ensuring you don’t overlook potential opportunities or misrepresent a brand.
The Value of This Skill:
- Targeted Recommendations: Presenting the most relevant brands to your clients based on detailed research ensures higher satisfaction and decision-making confidence.
- Strategic Positioning: Knowing your brands inside out enables you to position them strategically against competitors, highlighting their unique selling points.
- Risk Mitigation: Comprehensive research reduces the risk of unexpected surprises or challenges that could derail a potential franchise partnership.
The Harm of Not Being Prepared:
- Missed Opportunities: Failing to uncover or properly assess all potential brands could mean missing out on the perfect match for your client.
- Damaged Reputation: Recommending unsuitable brands or providing inaccurate information can harm your credibility and professional reputation.
- Client Dissatisfaction: Clients rely on your expertise; failing to meet their expectations due to poor preparation can result in dissatisfaction and lost business.
Register Now!
Don’t let lack of preparation be the bottleneck to your Broker success.
Join us on Friday, February 16, 2024, at 2:00 PM EST for the Broker FUNdamentals session on Research & Preparation.
Get full insights on the FRIDAY session: https://fbamembers.com/events/research-prep-presentation/