The largest sector of turn-key businesses consists of franchises. There is a franchise for every industry in the world, and they are relatively easy to acquire, coming with pre-packaged, easy-to-assemble systems. McDonald’s serves as a prime example, with a staggering 12-figure number of 38,000 franchises. There are a few things we are going to talk about: Business Format Franchise The Franchise Prototype Franchise Prototype Standards Business Format Franchise The business format franchise originated from an earlier model called the ‘trade name’ franchise. The major change was in the rights. During the ‘trade name’ era, franchise owners only had marketing rights.

Today, I’m going to talk about the life cycle of a business and how to get the most out of each cycle while also extending the lifespan of your business. The four different stages of a business life cycle are: Infancy Adolescence Growing Pains Maturity We’ll discuss what each of these cycles means and how they can individually contribute to expanding your business’s lifespan. Infancy This phase is generally considered the technician’s phase, where the owner is involved. At this point, the relationship between the business and the owner is comparable to that of a parent and a new baby.

Today, I’d like to discuss the various types of support staff you require and why they are crucial. There are essentially three key roles that need to be filled to set your business up for success: The Technician The Manager The Entrepreneur All of these roles must be performed simultaneously by individuals with the right talents. It’s all about finding the right balance. The Technician This individual represents the present and handles all the physical aspects of the business building process. They are the “doer” and typically the most visible person in the entire operation. The Manager This person represents

We are going to embark upon a journey through the world of e-myths and debunk them to help you avoid falling into the e-myth trap. First, let’s take a moment to discuss what an e-myth is. An entrepreneurial myth, or e-myth, is the assumption that anyone can succeed in business with: Desire Some capital Projected a targeted profit This sounds great, but it’s just not realistic. Think of starting a business as a marathon. Sure, everyone starts out of the gate at a record pace, but after a few miles, people start to slow down, and some drop out entirely.

We will go through the 5 essential keys to a successful and reusable marketing campaign launch. Once you have these basics down, you can use them repeatedly. The 5 essential keys are: Define your Unique Selling Proposition (USP) Put an effective sales offer to work Avoid the marketing pitfalls Use a world-class marketing perspective Get results! We’ll go through each of these so you can see how to use them and how they affect the overall outcome of your marketing campaign. Define your Unique Selling Proposition (USP) Take the time to ask yourself some questions from the perspective of your

Today we’ll take a look at how the kings of industry wine, dine and otherwise cajole prospects. Most successful professionals use a series of information-based ads that build emotion and include a call to action. These are much more effective than standard company branding advertisements. The same principles that go into putting together a high-impact (and, often, high-priced) ad campaign can be adapted to fit your needs with similar results. Here are some ways to put together and execute a professional, effective ad campaign: Put together a short report that you’ll automatically send to prospects when they contact you. This