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Episode #12 Why your FDD Sucks

The Franchise Manual Podcast

Release Date: 02/22/2017

Episode #36 - Branding Your Franchise show art Episode #36 - Branding Your Franchise

The Franchise Manual Podcast

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Episode #35 - The Challenges of Scaling to Over 50 Units show art Episode #35 - The Challenges of Scaling to Over 50 Units

The Franchise Manual Podcast

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Episode #34 - New Franchisor Pitfalls show art Episode #34 - New Franchisor Pitfalls

The Franchise Manual Podcast

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The Franchise Manual Podcast

My Podner in this episode is Tom Portesy and he’s going to talk with us today about how to maximize the return on your investment at a franchise expo, how to avoid the pitfalls, and best practices that will help you represent your brand in the best light.   Time Stamps Tom Portesy Intro 00:00:27 Segment 1 00:03:41 Get to know Tom Portesy Segment 2 00:18:22 Topic Segment – The Franchise Expo Segment 3 01:03:42 Quickdraw Questions   Topics Discussed in this Episode What is a franchise expo Short history of the expo How to manage...

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The Franchise Manual Podcast

Jackie Hoegger talks with us today about how to market to prospective franchisees. This conversation spans topics such as website design, digital marketing, even down to how you treat your existing franchisees. This is our first episode on the topic of marketing and we came out of the chute  with a GREAT one.

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The Franchise Manual Podcast

What franchisors should know about their franchise operating manual.

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Episode #30 - Site Selection, Real Estate, and Build-Out show art Episode #30 - Site Selection, Real Estate, and Build-Out

The Franchise Manual Podcast

My Podner in this episode is Brendan Charles and he’s going to talk with us today about what franchisors should be teaching their franchisees about site selection, real estate negotiations, and build-out. Bad decisions in these areas can be detrimental to the success of the location.

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The Franchise Manual Podcast

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The Franchise Manual Podcast

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Episode #27 - Franchising 101 show art Episode #27 - Franchising 101

The Franchise Manual Podcast

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More Episodes

Mike gave away most of the company secrets during this interview! I was blown away and you will be too.

In this episode, Mike Drumm of Drumm Law in Denver, Colorado tells us why your company’s FDD might suck. He points out issues in an FDD’s content and style that could make or break an FDD’s ability to help you sell your concept to prospective franchisees.

 

Time Stamps

00:00:42               Podner Introduction

00:02:45               Segment 1: Get to know Mike Drumm

00:26:30               Segment 2: Why Your FDD Sucks

00:55:10               Segment 3: Quick Draw

 

Mike Drumm Show Notes

Why your FDD might suck:

  • It’s not written in plain English
  • You have “over disclosed”
  • You let your attorney or accountant write the first sentence that describes the concept
  • You didn’t brand the document
  • The FDD is not visually attractive and easy to read (pictures, charts, etc)
  • Item 19 doesn’t tell your story well
  • It doesn’t use a data sheet
  • Too many exhibits
  • Item 7 doesn’t include an average
  • It includes outdated technology references

 

BONUS CONTENT

During my visit with Mike, we go off topic and discuss some really important topics that every franchisor needs to know.

  • How to make the delivery of an FDD a memorable experience.
  • What is an FDD
  • Why is an FDD
  • What is the FTC Franchise Rule
  • Franchise Compliance Guide
  • Why do you need a franchise attorney

 

Books mentioned in the episode:

A Confederacy of Dunces

The E-Myth Revisited

 

Michael Drumm

Drumm Law

www.drummlaw.com

[email protected]

 

Kit Vinson

FranMan Inc.

www.franman.net

[email protected]

217-736-3939 x 1