Angela Olea, RN CFE

Form a Franchise Advisory Committee (FAC) and participate in monthly meetings: Establishing and actively engaging in an FAC helps in fostering communication and collaboration among franchisees and the franchisor. Obtain and monitor Net Promoter Score (NPS): Regularly survey your franchisees to gauge their satisfaction and loyalty. NPS is a valuable metric for understanding the overall sentiment within the franchise network. Act on survey feedback promptly: Reach out to your franchisees regarding their feedback in a timely manner. This demonstrates your commitment to addressing their concerns and improving the overall franchise experience.

To improve time management skills for promotion, focus on identifying your key tasks (daily and weekly 'rocks') and consistently achieve them to demonstrate reliability. Prioritize these tasks effectively, ensuring they align with your role's goals. Additionally, proactively seek opportunities to expand your responsibilities. Show eagerness to grow within your role by embracing new challenges and learning opportunities. This approach not only enhances time management but also exhibits your commitment to personal and professional development, key traits for promotion.

I've seen various financing methods including home equity, 401K rollovers, SBA loans, credit card refinancing, and family loans. A key marketing strategy for financing options to franchisees is establishing relationships with funding partners who understand your model and the necessary finance amounts. This ensures we provide tailored, suitable financing solutions. Discussing funding early is vital, as the process can take up to two months. Early conversations set realistic expectations and timelines. By presenting a range of financing options and assisting in the selection process, help franchisees make informed decisions and show our commitment to their success.

For an effective Thought Leadership project, align it with your personal and professional goals. Ask: How does this advance my objectives? Set clear objectives: define your core message and target audience. Break the project into manageable tasks, focusing on those that align with your goals. Delegate or discard tasks that don't contribute. Employ time blocking to maintain progress, and schedule regular intervals for reflection and adjustments. This ensures your project remains on track and evolves with your insights, maximizing its impact and relevance..

Handling tough questions during a public speaking engagement is as much about maintaining integrity as it is about showcasing expertise. The key is to respond with honesty and authenticity. If you know the answer, present it clearly and confidently, ensuring it aligns with your values and the message you're conveying. If you don't have the answer, it's perfectly acceptable to acknowledge this. Admitting that you don't know something not only reflects honesty but also demonstrates a commitment to authenticity and continuous learning. Remember, the goal is to connect with your audience genuinely, and sometimes, showing vulnerability can strengthen that connection more than delivering a perfect response.

Peer learning in franchising can be a goldmine for discovering new revenue streams. By facilitating collaboration among franchisees, a wealth of collective experience and diverse perspectives come into play. This environment nurtures innovative ideas, from uncovering operational efficiencies to establishing profitable vendor partnerships. Selecting the right mix of franchisees for these groups, considering their varied backgrounds and experiences, is crucial to foster a richer, more productive dialogue. Such interaction often leads to identifying unexplored revenue opportunities, enhancing the overall profitability of the franchise network.