Entrepreneur - The best franchise advice you'll get.

When you are looking into a franchisor the best thing to look at is the success of their partners and how they interact with them. Franchise systems are made to be simple, understandable and certainly, repeatable! I am sharing a great article by Jeff Elgin in Entrepreneur Magazine that dictates everything you should do when researching a franchise system. I encourage you to do everything he suggests and put Joey’s Franchise Group to the test!

Check out his article here: The best franchise advice you’ll get…..


Trust your instincts

imageWhen you buy a business franchise of any sort you are entering into a business partnership, in which your relationship with the franchisor (or 'principle'), and their people, will be absolutely crucial to your success. You must be able to trust and work with the franchisor and the franchise company's staff - especially the directors and senior managers. If you have the slightest doubt as to the integrity of any of the people within the franchising company think extremely carefully before you go ahead with them. Trust your instincts - if you feel uncomfortable during the selection and recruitment stage it is likely that there are grounds for concern. Feeling uncomfortable about trust and relationships may not necessarily mean that the franchisor is untrustworthy, but it does probably mean that the 'fit' may not be right for you. Relationships are personal things - some people you'll get on with and see eye to eye with; others you may not. You will be more likely to succeed, and receive a good level of appropriate support, if there is a good emotional 'fit' with the franchisor.

Trust your instincts to tell you whether the franchising company has a similar value system and ethos to your own. If you value the customer above all else, do they too? If they do not then they may not be fully in tune with your style and business philosophy. Finding a good emotional and philosophical match with your chosen franchising company is almost as important as choosing the right sort of business. Given sympathetic and genuinely relevant support we can achieve almost anything - be sure that your franchise partner will be able to provide it.


The Four Way Test

Everyone has heard of it, everyone has thought of it, but does everyone use it or at least the principals it is derived from?

The test, which has been translated into more than 100 languages, asks the following questions:

Of the things we think, say or do

1. Is it the TRUTH?
2. Is it FAIR to all concerned?
3. Will it build GOODWILL and BETTER FRIENDSHIPS?
4. Will it be BENEFICIAL to all concerned?

Joey’s Franchise Group has used the test in one form or another for many years. It allows us to bring great products and quality to all of our franchise systems. It helps ensure we bring quality Franchise Partners to market and most importantly it has built a level of trust within our community. Over 5o% of our ReFranchise stores are sold to existing staff members. That says a lot about the brand development, not necessarily the growth, but the brand trust that our Partners and their Employes have with us.

When you’re choosing your next franchise, ask them how they implement the Four Way Test.

Rob Hilditch – VP of Business Development
Joey’s Restaurant | Joey’s Urban | MVP Modern Barbers | Homes & Land Magazine Canada


Success in the restaurant business...

Success in the restaurant business can be elusive. What’s more, success means different things to different people. Some operators want to just make a living. Others have loftier goals – maximization of market share, achievement of targeted return on investment and so on. Regardless of one’s definition of success, the basics in the restaurant industry never change.

Here are the top 10 factors that contribute to success in our industry:

•  Validated concept definition. Can you clearly state what experience your restaurant offers, what products it serves and what service-style it employs? If not, you’re not sure what your restaurant is all about and neither are your customers.

•  Understanding your restaurant’s demand types and sources. Is your demand destination, generative or impulse? What is your trade area?

•  Location. Regardless of your restaurant’s types and sources of demand, customers must be able to find and access your restaurant easily.

•  Differentiated brand imagery. What makes you stand out from your competition?

•  Targeted value proposition. Consumers are more knowledgeable and more demanding than ever. Value means offering the choices, convenience and monetary satisfaction at whatever price point the consumer selects.

•  Targeted marketing. Make sure your marketing focuses on your trade area, your customer demographics and their buying behaviours. Find ways to measure the success of each marketing program.

•  Quality food. You’re only as successful as you last meal.

•  Quality service. You’re only as good as your last customer interaction. Do you talk about good service or does everyone in your organization understand it and live it?

•  Flawless execution. Do all the elements of the experience you expect to provide to your customers come together every hour of every day? How do you know? Do you take action to make sure that they do?

•  Customer data. Do you really know your customers – their demographic profile, their needs, their wants, their expectations

Joey’s Urban | Joey’s Restaurants | MVP Modern Barbers | Homes & Land Magazine