Episode #37 - Financial Performance Representation (Item 19)
The Franchise Manual Podcast
My Podner in this episode is Cheryl Mullin and she’s going to talk with us today about Financial Performance Representation! Man, if that doesn’t make you salivate then you are no franchisor in my books. This can be a very dense topic but I am confident that Ms. Cheryl help us demystify this topic and maybe even help us pull our heads out from underneath the covers every time it is mentioned. But who knows, she may even have us running for the hills even faster. Time Stamps Cheryl Mullin Intro 00:00:30 Segment 1 00:02:49 Get to know Cheryl Mullin Segment 2 ...
info_outline
Episode #36 - Branding Your Franchise
The Franchise Manual Podcast
My Podner in this episode is Jordis Small and she’s going to talk with us today about branding. Branding is a word that is used in many contexts and sometimes misused and misunderstood. Jordis promises to clear all of that up for us today. This will be a fun ride Note: Ms. Jordis is recovering from a nasty cold and she lost her voice. The voice is scratchy but the content is GOLDEN. Time Stamps Jordis Small Intro 00:00:32 Segment 1 00:02:42 Get to know Jordis Small Segment 2 00:18:00 Topic Segment – Branding Your Franchise Segment 3 01:14:12 ...
info_outline
Episode #35 - The Challenges of Scaling to Over 50 Units
The Franchise Manual Podcast
My Podner in this episode is Tom Wells and he’s going to talk with us today about the challenges of scaling a brand over 50 units. It’s a moving target and things change, and he’s going to share some REALLY COOL stuff with us today. Time Stamps Tom Wells Intro 00:00:31 Segment 1 00:02:13 Get to know Tom Wells Segment 2 00:27:05 Topic Segment – Challenges of Scaling to Over 50 Units Segment 3 01:06:27 Quickdraw Questions Topics Discussed in this Episode Key areas franchisors miss in their first year: This ultimately comes down...
info_outline
Episode #34 - New Franchisor Pitfalls
The Franchise Manual Podcast
My Podner in this episode is Michael Peterson and he’s going to talk with us today about the mistakes that new franchisors typically make during their first year of operation. Some of these mistakes can be quite expensive, while others can lead to the death of your entire system. If you are a newly minted franchisor, or if you are about to start your journey, this is one that you won’t want to miss. Time Stamps Michael Peterson Intro 00:00:31 Segment 1 00:02:37 Get to know Michael Peterson Segment 2 00:20:39 Topic Segment – New Franchisor Pitfalls ...
info_outline
Episode #33 - The Franchise Expo
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...
info_outline
Episode #32 - Marketing to Prospective Franchisees
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.
info_outline
Episode #31 - The Franchise Operating Manual
The Franchise Manual Podcast
What franchisors should know about their franchise operating manual.
info_outline
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.
info_outline
Episode #29 - Creating Customer Loyalty
The Franchise Manual Podcast
My Podner duo in this episode is Andy Erskine and Bob Gappa of Management 2000, and they’re going to talk with us today about the importance of customer loyalty, what drives it, and how to manage it.
info_outline
Episode #28 - Generating Franchisee Leads
The Franchise Manual Podcast
Red Boswell talks with us today about how to generate franchisee leads. This is one of the hottest topics with franchisors. This discussion will benefit both new and seasoned franchisors.
info_outlineIn this episode, Doug Groves and I talk about insurance, specifically, what types of business insurance are out there, the importance of finding a rep that knows your industry, and what role does insurance play in the relationship between franchisor and franchisee.
Time Stamp
Doug Groves Intro 00:00:40
Segment 1 00:02:41
Get to know Get to know Doug
Segment 2 00:16:17
Topic Segment – Insurance 101 for Franchisors
Segment 3 00:38:19
Quickdraw Questions
Topics discussed in this episode:
Basic coverage that all business owners should have:
- Property (property, fixtures, furnishings, and equipment)
- General liability (slips and falls)
- Workers’ Comp (employees injuries and lost wages)
- Auto (company owned vehicles)
- Employment Practices (HR related risks)
- Umbrella (covers over and above the above mentioned)
Every insurance policy has a purpose.
Umbrella policies are a cheap way to purchase vast amounts of insurance for a much lower price
When you are deciding on limits for each type of insurance:
- Property: The property limits should be equal to the replacement cost of the property it is covering
- All other: The rule of thumb is that you make the value of the insurance policy to be more attractive to a would-be plaintiff than your personal assets.
Best Practice: Select an insurance broker who has experience in providing insurance for companies in your same industry. They will know which questions to ask in order to recommend the right options for you.
The question is answered, why does this line appear in all franchise agreements and franchise operating manuals: ““All liability insurance policies must name us (the franchisor) and any subsidiaries that we designate as additional insured.”
We answer the question, why do franchisors require franchisees to carry certain levels of insurance.
What is the EZCert program and how does it help franchisors manage all of the insurance certificates from all of their franchisees – for FREE.
Doug Groves
Program Insurance Group
512-848-7210
Kit Vinson
FranMan Inc. (Franchise Manuals)
214-736-3939 x1
Notable mentions in this episode:
Book: Killing the Sacred Cow
By Garrett B. Gunderson
Our culture is riddled with destructive myths about money and prosperity that are severely limiting the power, creativity, and financial potential of individuals. In Killing Sacred Cows, Garrett B. Gunderson boldly exposes ingrained fallacies and misguided traditions in the world of personal finance. He presents a revolutionary perspective that can create unprecedented opportunity and wealth for thoughtful, mission-driven individuals.