Focusing on the Numbers That Matter

I’ve just returned from the 2016 IFA Convention. One session I particularly enjoyed was a turnaround case study by Catherine Monson, CEO of FASTSIGNS. Catherine took the reins of FASTSIGNS in 2009 as part of a private equity deal that also saw the retirement of the company’s Founder. At the time, same store sales in this 500 strong network were down by 16%. Read entire post

How to be Admired and Respected

Several years ago in a survey to franchisees, we asked the question, “Who in the franchisor team do you most admire and respect, and why?” I was more interested in the “why” than the “who” because this would provide insights into the leadership behaviours franchisees value most. But I was surprised and pleased to see that, along with the expected CEOs and senior executives, the list contained a strong representation of receptionists, help desk people and field consultants. Read entire post

The Back Story to “Profitable Parnerships”

Many people think about writing a book or a story, and more of us are blogging on social media these days. I am regularly asked what it takes to a publish something that people will read. So I thought I’d share the story of how I came to write my most popular book, Profitable Partnerships, with some interesting lessons. Read entire post

The Pyjama Experiment

Welcome to 2016! This Tip on setting resolutions is based on an experience I had many years ago, but which has stayed with me. As a young boy I was erratic with a vivid imagination. My grandmother referred to me as the mad professor. After daydreaming my way through high school and failing English, my school principal had to be talked into letting me complete my final year. Thanks to a last minute study binge I passed and got a uni place studying Hotel Management. I hated it, dropped out and bummed around for a year, distracted, aimless and frustrated. On the advice of my grandmother I signed up for a 10 week Yoga course. Read entire post

Flower Power!

A client recently asked me to explain the concept of proactivity. The best examples of basic truths often come from nature, so let me tell you about a miraculous bunch of flowers currently growing in my wife’s garden. What makes them so amazing is they virtually appeared out of nowhere from a crack between two pavers, as you can see in the photo below. While the other plants have been carefully positioned in luxurious pots, with just the right mix of sun and shade, this vibrant bunch of violas has decided to grow and thrive in the middle of a concrete wasteland. This is what I call a plant with a proactive attitude! Read entire post

Perfect Timing

We’ve just landed in Sydney. The ding goes off and the aisle quickly fills with people grabbing for their luggage. I would normally be one of them. But I am in a window seat and a small elderly man is sitting next to me blocking my escape. I wait for him to move but he just sits motionless, staring ahead into space. Read entire post

May The Force Be With You!

There’s a story about a young man who was looking for answers to the big questions in life. Someone suggested he should study philosophy, so he visited a local university. The professor of philosophy looked him up and down. “I’ll teach you philosophy if you can answer the following question to my satisfaction.” Read entire post

Teaching Old Dogs New Tricks

Every franchisee starts as an idealistic rookie — enthusiastic and open to learning. Over time many of these people will become seasoned veterans, with a toughness and self-assurance you only get from hard earned experience. They are also likely to harbor a degree of skepticism toward the inevitable new initiatives that flow from head office each time a new senior executive joins the franchisor team. Read entire post

Why 28% of Franchisees Get the Thumbs Down

Following a recent post on why happy franchisees go sour, here is some research on why franchisors become frustrated with their franchisees. A simple measure of satisfaction with our choices in life (applicable to buying products as well as selecting franchise partners) is whether we would make the same choice again in retrospect. This is a question we ask franchisees in our ACE Satisfaction Survey and, on average, 65% of franchisees say they would invest in the franchise again. Read entire post

Why Franchisees Go Sour

A franchise recruitment manager asked me why franchisees, who were once strong supporters of their network, go through a “sour” phase. While there are many reasons for this souring phenomenon, I’d sum it up as a loss of hope. The good news is, there is a cure. In this Tip I’ll share four areas we’ve discovered through our research that promote what we at FRI call an ACE Mindset. This is where franchisees are Advocates for the business, Committed to stay, and Engaged in supporting network activities. Read entire post

Greg Nathan is a psychologist, author and an international expert on the franchise relationship. Connect with him on Google+ or Linkedin.

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