Are You Franchise Material
Franchise Coaching ¿Would you like to start your own business? ¿Learn more about business ownership and how franchising can work for you? Then talk to 121 Business Coach the only franchising coaching company on the Costas. They work with experts who specialise in setting up, marketing, training, selling and providing legal and accounting advice to businesses looking to franchise and those wishing to purchase a franchise in Spain. One call could save you many hours shopping around for the experts you need in this specialist field. 121 Business Coach will coach you through the franchising process from asking are you the right profile to run a franchise to how to hire, train and motivate your team to success. The relationship between franchisee and franchiser is crucial to your success so they will guide you through the right franchise for you. They do this through a variety of methods from 121 interviews, question-and-answer sessions, questionnaires, workshops and through leading Franchise Agents based in Spain. Pre Coaching investigation: For those new to Franchising 121 Business Coach will ask you to fill out a questionnaire and have a 121 interview on the phone or face to face this will help reveal your personality traits, attitudes and work styles. During the next step, several interactive discussions are conducted with you to determine your goals, needs, and expectations from franchise/business ownership. This information is then used to help determine how successful you would be at franchising and which franchising model is right for you and even which specific industries would be more appealing. Selecting a franchise that will meet your goals, needs and expectations as well as providing you with a good return on your investment. Coaching for franchise success: Once you make your franchise choice, your assigned 121 Business Coach will coach you through the transition stages to business success, supporting, pushing and motivating you through the initial process, covering: • What will you want from your Franchise agreement • How to get the maximum from your accountant and legal experts • Setting up the first 90 day business plan – crucial to long term success • Preparing, costing and delivering a marketing plan • Finding out where your prospects are and how to reach them in a cost effective way • Interviewing, training and developing your teams • Motivating your team to deliver your goals From decision to implementation we ensure your success through our weekly telecoaching and email sessions. Ready?
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Are You Franchise Material
- 1. Welcome to TO FRANCHISEING
- 16. The SMART way to do business Contact your training buddy today
Editor's Notes
- WELCOME The hottest high street names are heading your way! Walk down the streets of any major towns in Europe and you get that familiar comfortable feeling as your favourite shops with their familiar brands come out to welcome you, well the good news is this experience has arrived in Spain, welcome to the world of the franchise.
- Our trainers & coaches are highly skilled, experienced with distinguished careers in senior management roles They bring a wealth of practical experience to their programmes They design & deliver sales , management & business solutions for your business.
- Unlike consultants we are with you every step of the way, supporting and guiding you to YOUR goals , not ours Many customers describe us as a second pair of eyes and ears , helping them to stop procrastinating, moving blocks and moving them forward .
- This workshop is designed to discover which franchise model is best suited to you. Just as you're looking for the right franchise opportunity , franchise companies are looking for prospective franchisees with the best chance for success . Though not all franchises require the same qualities in a franchisee, there are a number of attributes common to successful franchisees- -any good franchisor will look for you to bring these to the table. This is were can help you today. 121 Business Coach works with Franchisors to seek out those who would make successful franchisees . We look for individuals who demonstrate they have the right skills and mind sets to fit in and be successful , so today you can get a head start.
- 121 Business Coach works with Franchisors to seek out those individuals who would make a success . Why? Because the more successful you are the more successful they become, its not in their interest to see you fail. Here are attributes all franchise companies are seeking:
- As a franchisee, you'll be the " boss " of your new business, these general characteristics are considered vital for success. Attitude. Do you have a positive and focused attitude? Are you results-oriented and generally enjoy working towards a common goal ? Franchisors will be watching you during the initial stages to see if you have this in you. They need you to succeed
- Smooth Operator. Successful franchisees are not " fly by the seat of their pants " entrepreneurs. To catch the eye of the franchisor, you must portray yourself as a careful operator who wants a system of operation that tells you the best way to run the business, avoiding mistakes and reducing risks . System of operation (this will vary from franchise to franchise but these are the things to consider) Can you? work to provided systems accept provided systems and adhere to them apply the training provided listen – to the experts – they have a vested interest in your success work to a business plan , use it daily and review performance on an ongoing basis Having been their and done that they know what you will face and how to over come day to day problems.
- General Skills and Experience. Franchisors look for franchisees that have developed common characteristics during their prior business and life experiences, you should have a value system that fits with that of the franchisor. This allows you to easily fit into the culture of the organization in a productive manner. Sales - Marketing - Strong leadership skills - people skills you must have excellent interpersonal skills and the ability to effectively interact with employees and customers. You'll use these skills to create loyalty , value and trust proven business experience communication skills – organisational skills, planning – internal – external – systems and controls (customer records) Discipline Both internal and from the franchises – Willingness to do whatever it takes to get the job done? This attitude will show in your every action- -as a franchisee, long hours handling multiple tasks. No matter what franchise you're interested in, you can be sure it's going to take a lot of work to make it successful, and franchisors look for this type of diligence.
- Coaching and Mentoring Look for opportunities - learn from others in the franchise Ask advice - of the franchisor support staff and other successful franchisees, follow the advice you get Help yourself - Self development – a good coach will help you identify your strengths and weaknesses and will implement workshops, courses, 121 sessions. Turning weaknesses into strengths and is always there for you pushing and encouraging in ways to suit you , face to face, on the phone, email You must show the franchisor that you understand you don't know all the answers and are willing to ask for help when you need it.
- Franchisors want to know you have the capital necessary to minimize the financial risk associated with starting a new business. You may be required to source any required financing prior to final approval as a franchisee. You will want to allow enough capital in your budget to get yourself up and running. A franchisor can give you a very good estimate of exactly how much you will need to start and grow your business. You may also have to source additional financing prior to final approval as a franchisee. Things to consider: Financing the franchise Purchase price (also check if the initial fee is refundable) Monthly fees/royalty (possibly 4 to 6 percent of your revenue) Marketing (possibly a national advertising campaign) Cost of sales: Inventory How much are you expected to hold? How much will this cost and store Manufacturing equipment Do you need to buy or rent? Logistics Will you be expected to cover shipping, packaging, warehousing or buy leasing Vehicles?
- Professional fees : Drafting a partnership and non-disclosure agreements Accountancy & solicitors fees for ongoing consultation, retaining an accountant , business coaching for the best possible start
- Technology costs: Computer hardware, software, printers Telephones Website development and maintenance, high-speed internet access , ( a must living in Spain ) servers, security measures, IT consulting again if you want to be taken seriously you need to have 24/7 access to your computer, an IT manager is a must not a luxury
- Administrative costs: Insurance, office supplies, licenses and permits , rent, utilities, office equipment anything else you need to have on a daily basis to operate a business EVERY THING IN SPAIN TAKES LONGER so what ever the time you think it will be double it Wages and benefits : Employee salaries, payroll taxes, benefits, workers contracts – get your self a good bilingual accountant Vives – Pons
- Sales and marketing costs: Consultancy services Designers, PR advisors Vital to creating that professional image Printing, stationery, marketing materials, advertising Promotional event / trade show, sponsorship Corporate identity uniforms, vehicle livery Trade association membership fees Travel and entertainment for client meetings Mailing / lead lists PRIORITY is letting as many prospects as possible to know you have arrived Your franchisor will be able to help you with these areas and much more
- Summery Attitude. Smooth Operator. General Skills and Experience. Coaching and Mentoring Adequate Capital Specific Skills and Experience. I tell many of my clients that buying a franchise is like entering into a marriage . It involves commitment and hard work . The franchise owner needs to collaborate productively with the franchisor towards a common goal . Ultimately, success is based on how the two of you fit together and work together . Find the right one — you will have a long lasting, mutually beneficial relationship
- 121 Business Coach would like to thank you all for attending this workshop and you are now more enlighten on what franchisors are looking for when you approach them Can I ask how many of you have seriously looked at buying a franchise ? And how many of you have really asked yourself are you the right type of person ? Any other questions? May I ask you to enter our free Business Card draw were you can win a FREE PRESS RELEASE valued at €99