Franchise Update Magazine Issue IV, 2011

Grow Market Lead Challenge the pros “With 2011 winding down, how are you leveraging people, budgets, brands, and resources to meet development goals?” Bill Knight, ChemDry Vice President of Franchise Development If I were to give you ChemDry’s secret weapons for the fourth quarter, they would be the art of listening and team closing. As we work with different candidates we have found that the more we can align our sales team with the candidates’ personalities, the more people we attract and the more obstacles we overcome. When you leverage people and encourage the whole company to sell, then productivity and problem-solving increase. This approach fits our culture: Chem-Dry was a company built on chemistry—the chemistry of our products and the chemistry of our people. Our 2011 numbers prove this philosophy works as we are up 91 percent over last year and 31 percent over this year’s plan. In addition, we have a lot of deals that come from our existing franchisees, and we specifically geo-target areas to create competition and urgency. We try to make selling fun, and we create competition where we focus on hitting specific goals. We offer company incentives if an employee gives a referral or if they tee up a franchisee who is ready for expansion. We openly expose our culture and get franchisees involved by sharing their success stories. When there are major layoffs within large companies we try to promote our opportunity. Through these tactics we are able to fuel our sales, create a department that is enthusiastic, and build trust. A plethora of new marketing vehicles is available, with technology and social media resources making it easier to amplify our value proposition. We invest in the things that work for our brand. 52 be debated by those with economics degrees, but it is clear that the lack of franchise financing and the overall economic sentiments of the average American “would-be entrepreneur” are making it difficult to hit development targets for most franchise organizations. At Tropical Smoothie Café, we are investing in people, namely sales associates whose job is to cold call and reach out to those prospects who do not know We have discovered a new and exciting they are prospects yet! Franchising is a non-traditional lead source that is a huge people business, a partnership, and we producer, and we are adding new self- are focusing on developing relationships directed technology making it easier for with our prospects. We want to hear what candidates to follow our sales process. We their goals, fears, hopes, and dreams are are also committed to giving back to our to see if it’s a match for our franchise franchisees. We have a new program where system from a capital and personality new franchisees are given access to our perspective. Given the lack of credit availcall center, SEO team, and new booking ability, more times than not our prospect software free for their does not qualify to be a franchisee… yet. first year. This not only The greatest serves as a sales catalyst, A positive and companies but also adds real value straightforward expeto their business. throughout history rience with a franchise A lot of our new development profeshave always messaging is focused sional who is not afraid around Chem-Dry beused economic to say “You don’t qualing a safe investment ify right now” or “I downturns as for more than 33 years. don’t think we would an opportunity be a good fit for reaWe recently came out with an Item 19 that to market their sons X, Y, and Z” is backs this statement the type of honest and shows our unit- brands, products, feedback prospective franchisees are looklevel economics. We and services. are the industry leader ing for. The last thing and have strong brand power that screams I want an excited prospect to do is move sustainability; we plan to convey this all the way through our process and inmessage even more next quarter. We will vest their time and resources if I know continue to survey our franchisees so we they do not have enough liquid capital can understand who our target audience or a credit rating to come close to qualiis. I am confident that by continuing to fying for financing. Even exciting new do all of these things we will be able to technology and tools in this arena such exceed our development goals. as Boefly.com (who we are in partnership with) can’t make a 500 credit score and $20,000 cash into a $275,000 quick Charles Watson, Tropical casual restaurant loan. Smoothie Café The greatest companies throughVice President, Franchise out history have always used economic Development In the current and chal- downturns as an opportunity to market lenging environment, their b rands, products, and services “at franchise development a discount” and came out of those slow executives must do more periods with radically increased brand with less. Budgets have awareness and customers lined up. We shrunk, but expectations have not. Wheth- are doing the same at Tropical Smoothie, er we are in a “new normal” or not can one prospect, one call, at a time. n Franchiseupdate Iss u e IV, 2 0 1 1

Franchise Update Magazine Issue IV, 2011 | Page 54