LIFE DRIVES SUCCESS

Charles N. Internicola and Nick Powills of FRANX talk about what you need to know about buying a franchise including:  1. If Buying a Franchise is Right (or Wrong) for You - Franchise Ownership vs. Entrepreneurship - Difference between buying an individual unit vs. multi-unit ownership 2. Franchise Buying Basics  - Where to Find Franchise Opportunities - Franchise Brokers - the FDD - the Franchise Agreement - the Process 3. What to look for in a Franchise - Start with the FDD - Item 19 Financial Performance Representations - Unit Level Economics - Franchisee Validation - Leadership Team and Purpose 4. Plus Factors to Look for 5. Warning Signs to be Aware of   JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259

Best this, best that. The bests of bests are wide and large in franchising. That is the start of the discovery for a franchise buyer.

Charles Internicola and Nick Powills talk about task items franchisors should work on in Q2 of 2021. Leads take time to mature. While, on occasion, single events can create impactful moments, most of your successes, especially in franchising, will come from steady Eddie execution. So, now that we are in the second quarter of 2021, the activities you do in these three months will have tremendous impact in end of year results. A few things to consider: 1. If you're behind in franchise sales, increase spend.  It may feel uncomfortable when you are not rockin' the deals, but, if you don't increase spend, you very well could be in the exact same place at the end of the year. 2. Reconsider/reconfigure your goals.  When knockin' back some drinks around New Years, we create these crazy goals. But, then, we don't look at the indicators. Now, for some, you are probably crushing the goals you set out, but for others, if you are playing from behind, pivot and adjust. 3. Ask franchisees for help. They are walking in the same brand shoes as you. Lean on them, too. It will make them feel like partners, and they just may have some good ideas. Make sure you are aligned as a team on what needs to be done this quarter. Assign tasks, measure, hold accountable. Make sure your team is aligned with your brand goals. And, don't be afraid to share your personal goals, too. JOIN FRANCHISE GROWTH MASTERMIND: https://www.facebook.com/groups/1464519290241259

The “it” conversation in franchising is all about, “How do I get the brokers to sell more of my franchises.” Franchisors are banging their heads on walls, desks and FDDs trying to figure out the new secret to getting deals through the broker networks (* apologies to those who call themselves consultants, coaches, or tour guides -- you are still a broker). Yet, many franchisors are missing some of the important basics of deal building: Relationships: Cultivate and build them. Tools/Brand Resources: These folks are not in your brand. They don't know your secrets. Give them the tools to present your brand amazingly. (a) Two-Minute Drill (b) Videos on why you/why now (c) Brand assets To win the war of growth, you have to arm your troops with the best franchise weapons. In this case, the truths that elevate your brand. If you are not getting the deal traction you desire, perhaps it's time to evaluate your tool kit and give your outside team a refreshed weapon to tell your brand story. Add it to the to-do list.   JOIN Franchise Growth Mastermind Community: https://www.facebook.com/groups/1464519290241259

Avoid franchisee lawsuits… Sometimes they are inevitable... other times they are completely avoidable. Following the year of the pandemic, business closures, and small business challenge… it's time to re-think your franchise agreements and legal relationships with your franchisees… How can you make the lives of franchisee lawyers more difficult and less profitable? 1. Enlist Your Franchisees A franchise advisory council can be your “canary in the coal mine”. Embrace your FAC and use it as a tool to improve your system communication and as an early warning system. 2. Be Aware of State Franchise Laws No matter what they say… state specific franchise relationship laws may trump the terms of your franchise agreement. Be aware of the states that you operate in and the supplemental rights afforded to your franchisees. 3. Rethink Your Franchise Agreements Do you need all of the provisions in your franchise agreements? Maybe and, most likely, yes...but can you tone them down? Absolutely. And, if you overreach in your franchise agreements, important provisions like your non-compete and confidentiality covenants may not be as enforceable as you think they are. Make sure your restrictive covenants are fair, balanced, and enforceable. 4. Leverage Your FDD Unhappy franchisees are usually over-leveraged franchisees with misaligned expectations. Use your FDD to align expectations including a clear understanding about franchisee marketing obligations, the dollars that need to be spent to make the phone ring, and a supercharged Item 19 that creates clarity as to income replacement expectations. The most successful lawsuits are the avoided ones.

You are at a franchise cocktail party. Ok, not really -- more like a franchise zoom happy hour (lame, can't wait for a real one).

What is the future for franchise expos? Hint, it's not digital expos.

It's all about trust between franchisors and franchisees.

We've all played the game of Monopoly and the lessons come fast! You can't win by just passing go and collecting $200…

Join Nick and Charles on a 2020 look back and a 2021 plan. Lose weight? Check. Eat more chicken? Check.

What would you do if Nick & Charles came down the chimney? Yeah, we would call the cops, too. The good news is the franduo is only coming down the virtual franchise chimney (could that become a franchise) to talk about winning in 2021.

The king and the jester of franchising, talk franchising. Who's the king and who's the jester? Debatable.

Nick Powills (www.1851franchise.com) & Charles Internicola (www.franchiselawsolutions.com) share the secrets to franchising.

Black Friday Discount Franchise, Knife Set Free

5 Dolla, 5 Dolla, 5 Dolla Franchise

If you want to maximize the ROI on your franchise sales and development dollars, you'll need to shift your mindset from franchise sales lead "generation" to lead "awareness." You're one of many brands and options for qualified franchisee candidates and winning is no longer determined by who gets to the prospect first or the fastest. In this FranX installment, Nick and Charles discuss guaranteed ways to increase your deal conversions and they required that you stop (what you're doing right now), collaborate (with your internal team to align your why you/why now), and listen (to what your prospects are looking for.

As we previously discussed, to maximize the long-term growth of your franchise system and brand, you need to build your franchise sales strategy, budgeting, and planning around the deal value of every franchise you sell. Once you know your sales deal value, how do you implement and maximize the franchise development dollars that you spend and your deal ROI?

In the franchise world we hear it all the time ..."I want more franchise leads...damnit!" But, do you really want more "leads" or, do you want more "deals"? In this FranX live stream Nick Powills and Charles Internicola discuss why the good to great franchise systems focus on "deal flow" and not "lead flow" and how this mindset shift can transform your franchise system. Kicking off this discussion lets discuss: 1. Deal Value 2. Deal ROI; and  3. Deal Convertors. This video sets the framework to shift you development practices to deal flow and deal value a 5 year plan for your franchise system.

You know the value of the franchise fees you collect when you sell a franchise but...do you know the "deal value" of each franchise that you sell?

On this week's episode of Life Drives Success, Nick interviews child actor-turned-singer/songwriter and life coach, Brian Falduto. Most recognized for his role in the 2003 hit movie School of Rock, Brian now has a budding country music career and a successful business as a life coach and LGBT advocate. He and Nick connect around the bullying they both experienced as children and how it shaped their future successes.

On this week's episode of Life Drives Success, Nick interviews actor and comedian Marz Timms. Nick and Marz discuss their shared history as across-the-street neighbors, the power of luck, how to find joy in your career and the importance of note-taking in standup comedy.

On this week's episode of Life Drives Success, Nick interviews Kevin Wilson, CEO of Buzz Franchise Brands. The two talk about the value of hard work, the importance of establishing a strong and reliable team and what it means to trust them to have your back. Kevin shares insight on how the combination of the right people and processes leads to success in business, and how he applies what he learns from the people around him to his own life and career.

On this week's episode of Life Drives Success, Nick interviews LinkedIn influencer and CEO of Rowbottom Marketing, Shay Rowbottom. Before she became the "Content Queen," Shay dropped out of college to pursue a music career. She and Nick discuss how the endeavor led her on a new path that saw her creativity manifest in a successful marketing career and how she finds a balance between what her highest excitement is and what resonates with her audience.

On this week's episode of Life Drives Success, Nick interviews Bob Tewksbury, former professional baseball player and current Mental Skills Coordinator for the Chicago Cubs. The two discuss Bob's book, "Ninety Percent Mental: An All-Star Player Turned Mental Skills Coach Reveals the Hidden Game of Baseball," and how he was able to overcome a tumultuous upbringing to become an All-Star MLB pitcher. 

On this week's episode of Life Drives Success, Nick interviews Matt Friedman, co-founder and CEO of Wing Zone. The two talk about how Matt's love of chicken wings propelled him to start his own delivery business at age 20. Met with a lot of doubt at the beginning of their business journey, Matt and his business partner's genuine desire to prove to everyone that their chicken wing delivery concept could succeed was a key part in how Wing Zone has thrived over the last 25 years.

On this week's episode of Life Drives Success, Nick interviews Olympic bronze medal-winning swimmer Katie Hoff. The two sat down to discuss Katie's ascent to the pinnacle of her sport, her early retirement due to blood clots and how she's been able to use the experience gained from her athletic successes in the subsequent chapters of her life.

This week on Life Drives Success, Nick got the chance to sit down with professional singer, John Vincent, to talk about his path to singing the National Anthem at the Cubs World Series and how he continues to spread kindness through his activism against bullying. 

On this week's episode of Life Drives Success, Nick interviews Burn Boot Camp co-founder and CEO, Devan Kline. The two discuss Devan’s difficult upbringing, professional baseball career and how he and his wife Morgan's focus on passion and purpose created a thriving community committed to lasting mental and physical wellbeing.

On this week's episode of Life Dries Success, Nick interviews Jeffrey Hayzlett, a best-selling author, keynote speaker and primetime television and podcast host on all things business. Hayzlett's latest book, "The Hero Factor," explores how businesses can instill a winning culture by holding themselves accountable to a strong values system and a greater sense of purpose. The two discuss the negative effects of indifference and how businesses need to pick a side and engage in active behavior in order to really succeed.

This week, Nick talks to the Founder and President of Big Blue Swim School, Chris DeJong.  

Peyton Mabry is a Dallas-based entrepreneur on a mission to bridge the gap between journalism and influencing. A former Div. I cheerleader at Texas Christian University, Mabry was fully immersed in competitive cheerleading when she was diagnosed with Adolescent Idiopathic Lumbar Scoliosis. She and Nick discuss how her unexpected diagnosis propelled her to take the fast-track to entrepreneurship.

On this week's episode of Life Drives Success, Nick interviews Scott Gittrich, founder and CEO of Toppers Pizza. The two dive into what's happening in the restaurant industry and how Toppers is responding as well as Scott's journey from prospective Domino's franchisee to founding his own pizza brand.

Nick’s guest on this week’s podcast is none other than Gary Brackett, former NFL pro turned franchising pro. Brackett is currently CEO and owner of Stacked Pickle, an Indianapolis-based sports restaurant concept that is now growing through franchising thanks to his leadership. The Super Bowl-winning linebacker discusses how he translated the work ethic honed during his football career to succeed in the business world and what’s next for Stacked Pickle.

On this week’s podcast, Powills interviews Tim Jensen, president of military-themed apparel brand Grunt Style. Jensen, a Marine Corps veteran, initially applied for a job with the company as a graphic designer but was hired as a production manager instead, tasked with folding shirts. Through his superior work ethic and dedication to Grunt Style’s ideas, Jensen’s impact on the company propelled him up the ladder to his current position among brand leadership. Now, Jensen oversees a multi-million dollar business and champions the hiring of military veterans to its ranks.

On this week’s podcast, Nick interviews Josh York, founder and CEO of home-based personal training concept GYMGUYZ. York started his business in 2008 with a vision of bringing creative, customized fitness solutions to time-strapped clients in the comfort of their own homes. In the decade since, GYMGUYZ has grown to more than 100 domestic and international locations and was named one of Inc. 500’s fastest-growing private companies in 2018.

This week, Nick interviews his longtime friend, Scott Thompson. Thompson has nearly two decades of experience in the franchise industry, in almost every capacity, at that. He’s been a multi-unit franchisee, master franchisee, franchise supplier, broker and has served on the executive team and board of multiple franchisors. His current role as Chief Development Officer at L-5 Capital and Big Blue Swim School challenges him to draw on all of his previous roles to ignite brand growth. The two discuss how life’s early trials fueled their path to success, personally and professionally.