Lance Hood (FranPro): 0:01

Welcome everyone. Today we have Red Boswell from IFPG. Red, welcome to the call.

Red Boswell (IFPG): 0:07

Thanks, lance, excited to be here. I have no idea what we're going to talk about other than franchising, so ready to rock it.

Lance Hood (FranPro): 0:14

Well, really quick for anybody who's not familiar with IFPG, can you take a couple minutes and just share?

Red Boswell (IFPG): 0:20

You bet. International Franchise Professionals Group. We're best known as the world's largest consultant or broker group. We work with hundreds and hundreds of franchisors and hundreds of consultants, as well as vendors to the industry. So we really connect folks, connect franchise professionals, mostly doing deals, changing lives, making some income in the process, and connecting vendors with franchisors, connecting zores with consultants. We're a big connection organization. And then we own some other ancillary support services, like the one of the largest news networks in franchise, franchise wire. We own career transition leads, nurture assist, so anything really in franchising. We support and connect and help folks with.

Lance Hood (FranPro): 1:02

Nice. Well, I thought you know what would be good today with all your experience, because you've actually, before IFPG, you were actually on the franchise oarside, so you have a lot of experience, a lot of intelligence. What do you think? You know? I do, I know you. So what do you think about? What can franchise oars do to best utilize a network? Because here's what I've seen when you're new and you go in and you start utilizing a network, just because you're part of a network doesn't mean you're going to get any traction. You actually have to connect with the brands. You have to have, you have to be able to be presentable. What are all those things that they should think about?

Red Boswell (IFPG): 1:43

Love it and guys in the audience, ladies when he says network, that's the industry. There's a lot of terms for what we do, primarily what we do. The industry franchising calls us brokers. We prefer consultant, advisor, matchmaker, coach, lots of great terms. We do so much more than just broker a deal. It's a very much an education, educational relationship, matchmaking, handholding, introducing a lot of things. These hundreds and hundreds of consultants do to support the franchise oars and their candidates. So to your point, lance, yeah boy, that could be a whole segment itself.

Red Boswell (IFPG): 2:23

Franchise oars oftentimes will join a consultant referral group like us and they sit back and bring it on babies, come on, I'm ready. They treat us like I don't know, like they're advertising in the Wall Street Journal they don't realize this is. Or a paper click where they just turn it on. The leads flow. Now the leads are crap as crap can come, but the leads flow with consultant groups, referral groups, broker groups. It's a long term play, it's a relationship and relationships don't happen overnight. Loose, mostly right. So they get to get know you, the consultants know you, the Zor get to know you, the franchise development rep representing that franchise, or they get to lack you. They ultimately get to trust you and then that's when the magic really starts to happen. And so that's a big, high level answer to your question.

Red Boswell (IFPG): 3:18

What is Zor's doing incorrectly when they're working with referral consultant groups? Well, they're just not treating it like a long term relationship business. They're joining it and not diving in, not participating in the webinars, participating in all the many, many, many ways, especially the IPG Many ways to get your brand noticed and I'm not talking get your brand noticed to the, to the consumer. I can get your brand noticed and ultimately get the consultant to fall in love with you.

Red Boswell (IFPG): 3:51

You the franchise development rep, you the franchise or opportunity. Because when that happens, magic happen, lives are changed and that it really scales quickly. The community talks, the word spreads that you're a legit, awesome opportunity with incredible franchise development rep who knows how to fricking frack behind the scenes, who knows how to follow up quickly, to communicate well and ultimately award franchises. You might call them closed deals, but it's a mutual awarding process, so treating it like a true long term relationship will make all the difference in the world for that franchise or Right, because you think you know if you hire an internal sales team, they're there every day working for you.

Lance Hood (FranPro): 4:32

You know if you buy leads, they just show up. When you work through a group like this, what happens is is they are assessing you to make sure that they're not sending their clients to a company that is going to be a bad opportunity for them. They're assessing you to make sure that you have the ability to actually award and close franchisees, versus just receive leads and they they fall on the ground and turn to nothing. And also you have relationship issues where they have to actually enjoy working with you and like you and all that stuff comes together. And then the I think the fourth thing would kind of be that they have to have exposure, they have to know that you exist and get to know you, and then you really don't need a ton of them because a few solid brokers can fill your pipeline pretty good. So can you kind of speak on those things?

Red Boswell (IFPG): 5:28

Yeah, brother. So an analogy I love is when you've got a franchise opportunity and then you have the franchise development rep. That's representing that opportunity. Might be in house, might be out of house, they're still representing that opportunity. They're handling the relationship with that new candidate, wherever the candidate came from, and taking them through the discovery process ultimately to a change life by awarding that franchise Right. So the consultant is out there investing their, their livelihood, their blood, sweat and tears, their life savings. They're investing that into finding great leads. They're educating those leads. They're building rapport, building that trusted advisor relationship with that lead, getting to know them, asking lots of questions, scheduling multiple calls, narrowing down the search significantly talking to them about sort of during that narrowing down and ultimately narrowing it from 600 plus in our case a franchise opportunities, and really we IPG have vetted thousands down to that 600. Now the consultant is doing it down, down, down big process, helping that candidate really find the right opportunity, not just an okay one but the ideal opportunity. And so, as they narrow it down, the consultant with the candidates assistance it. You know this is a half a percent of the ones we've added. This is a very tight narrowing down. Well, part of that narrowing down is that consultant needs to really trust the, not just the brand, but the friend dev wrap we've talked about that a moment ago, but I just harping on it again. And so an analogy, I think, makes a lot of senses. If you're a parent and you've got your baby but there's nothing more important than the world, than your baby you give your life for that baby, right, in many ways that consultants candidate that they have really built, built, built a trusted advisor relationship. That's the baby, that's that consultants, baby man. Thousands of dollars and tons of time have gone into that one that can candidate.

Red Boswell (IFPG): 7:24

Well, the franchise, or is you know, if you got a baby you're looking for? Occasionally you got to go on a date with your, with your spouse, and so you need a babysitter. Well, who you got to trust? Who are you going to trust with your baby, right? So you're going to vet that, that, that babysitter, big time. Now, maybe you taking your baby to the babysitter's house, right? That's how it happens. Sometimes they come to you on this analogy you're taking to their house.

Red Boswell (IFPG): 7:50

To me, the house is the franchisor. That house gotta be safe for your baby House. Gotta be in a good neighborhood for your baby to be safe. Right, that's important. But you know what's more important? French has development rep who is gonna be dealing with taking care of, feeding, watching my baby? And that French has development rep, whether it's in house, whether it's outsourced to an FSO, whoever it is, they better be the best in the world. I'm not selling for second best. This is gonna be my livelihood, my candidate's livelihood. I gotta know they're the best. And so more important than the house, aka franchise or opportunity is the franchise development rep. They gotta be on their A game. Ain't nobody got me gonna trust my baby with than the very best.

Red Boswell (IFPG): 8:33

And so, to your point, lance, to answer your question and numerous questions mixed in there, it's all about really diving in. The ZOR has to be fully committed and they have to have a franchise development rep that is fully committed to our industry and to the consultants, and you do that in so many ways. I mean, ultimately, that franchise development rep should get with the consultant group, such as IPG, and ask them one on one what can I do more, how can I do it better? And they'll look at the profile. You got some good downloads the consultant can share. Have you identified the ideal candidate profile that the consultant can share?

Red Boswell (IFPG): 9:09

Are you registered for their annual conference or bi-annual conference? Are you getting your live webinar done? Do you have some videos that they can watch and learn more about it? Some. Do you have a? How many? Are you updating it periodically? We got brands that have old contact. Are you offering semi absentee and are you communicating what the qualifications are for a semi absentee Cause? There's a lot of deals happen in the semi absentee world. I can go on and on, lance, but I know it's a long answer to multiple questions. But it's really committing to it and being all in it on a daily basis and not treating it like any other lead source. You'll succeed over time and it will build and build and build, and two, three, four years from now you won't even recognize the organization you've built because of your relationships. You've planted seeds in three, two, four years ago with the consultants.

Lance Hood (FranPro): 9:59

Absolutely. You know, I see some, there's some companies that you have such a good I would say you have a good relationship with them because that's built on trust, but also they just seem like a great opportunity for your clients and they handle things professionally. And the big thing I think you'll hear through this whole series is communication and one like an example I had just recently. I took a great client well-funded, high level clients, introduced him to a big brand and I got busy working on this event here and I wasn't paying attention. I was like I haven't heard anything. So I contacted them after three weeks saying hey, I have franchise or which.

Lance Hood (FranPro): 10:44

Yet in a major franchise or, and I contacted them after three weeks and I'm like, hey, I haven't heard anything. I can't find anything in my email on what step they are in the process, where they're at, what's left to do. You know timelines, and they just said we need to reschedule them for this meeting. Well, I don't even know what that meeting is, and that was the whole answer and they were done. And so I said something back and I hadn't heard from them again in three weeks and I said, hey, it's been six weeks. I only heard from you because I contacted you and what's going on. And they gave me a one line answer again, whoa. And then so I just fired back with like a bunch of questions, getting details, like well, they're gonna probably close this month and I'm like what's the date and what's remaining on the list? And part of it was we just need to redisclose them and I'm like, well, that takes two weeks.

Lance Hood (FranPro): 11:34

Like, oh my gosh, so anyway, so you think about me with that relate with that franchise or it's a big company, you know they're they, they have decent numbers, but I can't work with those reps because they're just I don't know if they pay their people more for organic leads versus referrals, you know or what, but they were. They're just no communication. So those are things that people don't realize, because you as the franchise so don't realize what your team is doing when you're not around and that could be hurting you within the groups and you don't even know what's happening. But that's genuinely when that happened. And then everybody talks right, so people know this is happening.

Red Boswell (IFPG): 12:18

They talk and there's ways to consultants. At least with an IPG system you can see in real time anytime the consultant can and the franchise or can, the average response time to a territory check? That's. That's very telling. That's front end of the pipeline. How engaged are they? How quickly do they respond to territory check? Sure, he's going to have some outliers that hurt your average a little, but you get a hundred, 200, 500 territory checks in a year through IPG alone, maybe 1500 in some cases. You're going to have some easy numbers that the consultants can see how engaged you are. Also, we've got reviews. Consultants not only talk amongst themselves but in a more mass setting. Every ZOR has reviews at the bottom of their company profile that the consultants can add to five star, three star, two star. Why explain it? And you know, be gloating, be proud of them or tell hey, run away from these guys. They're clueless, they don't know how to fricking frack, meaning communicate behind the scenes of how it's going so critical to success.

Lance Hood (FranPro): 13:20

Yeah, if you're not going to communicate, don't think they're going to bring you more of those leads. You know, because they, because that lead to a consultant is one, two, three months income and they have expenses behind that, you know, and they need. By the time they brought them to you, they've nailed it down to usually, or you know maybe one company and so this is their. You know, this is their shot, so they're expecting you to take good care of it. They've spent the you know time to really whittle them down.

Red Boswell (IFPG): 13:49

Yeah, and two things to note. Too oftentimes it's three companies so that if you're not doing your job, no problem. We got two more that they're working it right. And the consultant is typically checking in having that ongoing cadence on a weekly basis give or take with their candidates. So you know things aren't happening in that first week. Second week, don't move it on. You know you got to be on it. The consultant is working with the candidate, still holding their hand, massaging this deal all the way to completion.

Lance Hood (FranPro): 14:17

Yeah, you know I don't have a complete list here, but you know, definitely one of the things is you appreciate the companies that will give you an email at each step or after each communication, like you get synopsis. That creates trust and then what they don't realize is it's. It might seem like a handoff, but on our side we still have to keep the franchise or the client and the lender all communicating and all on the same page with dates and timelines and handle things, and we might get objections that you don't get and we can't assist you or help if there's no communication or slow communication.

Red Boswell (IFPG): 14:57

Yeah, you are that trusted advisor in the relationship. If the franchise or is not utilizing you to your fullest potential, they're going to be gone. They're not going to get any more deals. And also, you mentioned that email. We train our franchise or's and they don't always listen. But and the consultants ask the consultant how they want to be communicated with. Maybe it's a text, maybe it's a phone call, maybe it is an email. And then, lastly, on that communication part, regarding Frick and Frack in the IPG system, we have a deal tracker where the Zor can update the lead, the candidate in the process, where they don't have to text email or phone call to the consultant unless there's something more thorough they need to discuss, and it tracks every candidate and where they are in the discovery process with each franchise or what makes it beautiful? Great, great simple tool and map visual to understand where every candidate is with every franchise or. We love it, the consultants love it, the Zor's love it. It makes their company and the process run more efficiently, saving time and money, and everybody wins.

Lance Hood (FranPro): 16:08

Absolutely. Well, if you were to go through a list of you know the things that you think from all these things, from you know how they interact let's just talk about how they interact with the brokers what would be the top list of things you think that franchise, or should make sure they do, with brokers?

Red Boswell (IFPG): 16:26

Wow, I should have you know. I love that these are impromptu questions. But let's see Number one. Have your company profile all the way rocking. I mean everything I mentioned earlier from the ideal candidate profile. So many Zores don't really explain who you're looking for. I mean, help us throw us a bone here. Who are you looking for?

Red Boswell (IFPG): 16:47

The response is the territory checks, the downloads, the videos, the item seven heck, item 19. Give all the information you possibly can in your company profile to make you an attractive opportunity. Don't make the consultant call you. Don't make them go to extra work. They're going to just pass on you. Make it easy and show that you know what you're doing. Next, be fully involved, engaged, as we mentioned.

Red Boswell (IFPG): 17:09

Have a quick response to territory checks. Are you getting an email or are you getting a text in an email on your territory checks? That text, as we all know, gets responded to a lot quicker than an email and then you've fallen up with them properly. And that response to a territory check, are you just saying available, send, being lazy Maybe you're going fast but lazy or are you responding with enthusiasm, personalization? Give them a reason or ammunition to show you. Don't just say it's available, say yeah, it's available. Our top franchisee is across town. They're doing this. That here's my phone number. Let's talk, show enthusiasm, personalization and a reason to show you when you respond to those territory checks. We're known as the territory check organization. We've got an easy TC tool. Consultants utilize it, incredibly. But then I get Zors go rad. I'm getting all these territory checks, I'm not getting registration, I'm not getting candidates introduced, what's the deal? And then we talk through well, what percentage of them are getting done? Here's why Are you responding quickly? And then I go through what we just talked about. Give them a lot more best practices. Here's an analogy I use with them is a territory check.

Red Boswell (IFPG): 18:18

From a franchise consultant to the franchise, or checking to see if an area is available is like when you're single and you're at the church or at the bar. You're at wherever you meet the person you're interested in meeting. You see a cutie or something. You walk up to them, tap them on the shoulder and go how you doing. Give them that Joey Terabiani there. That's kind of like a territory check. It's an at-bat. You're checking to see how the interest is and if there's availability. Well, if that franchise or AKA the person you just tapped on the shoulder, sits there for 10 seconds, that's 10 hours on a territory check. It's torture. And then he turned around and go, I'm good. And then go back around, that's saying available, sent, zors do it every second of our day, pretty much Available, sent 10 hours later.

Red Boswell (IFPG): 19:11

Man, you tap on somebody's shoulder, say wait 10 seconds, say yeah, I'm good, and turn back around. You are gone. And so they turn around quickly, smile hey, you hand out. How are you? You come here often, where are you from? What's your name? That is a responsive territory check with enthusiasm, personalization and a reason to keep talking to me. So take advantage of those territory checks, follow up with them, get that phone number, et cetera. So a big one is having your act together, your opportunity, well presented, responding, engaged and with the consultant. And then to your point that we've been talking about get that fricking frack on fire with communicating back and forth nonstop to move this candidate to a whole new life with that franchise or Yep, I agree with you.

Lance Hood (FranPro): 19:59

I think it's about being a team versus thinking of it as a handoff. And there's some zores that you're just like. They're treating them like free leads, like this is this is client, is my baby, and it's just treated like free leads that don't matter so, and you know what.

Red Boswell (IFPG): 20:18

I tell you what, dude I apologize for interrupting. Can consultants do it too? Those consultants who just handed off and wait for? Give me the money. Where's my money? No man, this is partnership, it's two way street. You follow up with them. Give me updates. I'm waiting for your update. I'm giving you updates back and forth. Equal, fricking, frack, it's not frick. It's not frack, it's frick and frack, you know. So we got to get get it working together in that three way relationship.

Lance Hood (FranPro): 20:42

So it makes it fricking amazing. Yeah, exactly, but. But you're right, the better communication you just have, you'll close more deals and you'll create more of a friendship. If you want a relationship with the broker, that's how you do it. What when? When I like saying, fill out all the details about the company and have all those promotional pieces, because sometimes you're looking at things in the middle of the night, you can't talk with anybody, you're just doing your research, and sometimes you're sending a territory check like 10 minutes before presenting, because you're like you know what? What about this last company? Maybe I'll introduce this last company. So that's why that that last minute thing is like whether you're in or out, just because it was a whimsical thing, maybe I'll add these guys, you know, yeah yeah, and that ideal candidate profile.

Red Boswell (IFPG): 21:28

So many Zores just go oh, I mean, we take anybody, you know that. Give me something really tight, like there's a a lot of senior care. I still remember three years ago. I'm reading their profile and I see ideal candidate and they give the usual must, follow up, proven system for success and be coach. Of all the platitudes you see on every franchise. But then they said if your candidate has ever been in pharmaceutical sales, please send them to us. I'm like dude, laser, laser focused. They know their ideal candidate.

Red Boswell (IFPG): 21:59

I called up Marcos over there like dude, where did you get that? What did that come from? He goes we had a couple of franchisees come in. Both of them, coincidentally, had pharmaceutical cells. They killed it. We realized they've got that profile. The training they go through to get to that successful pharmaceutical sales career is ideal to who we're looking for. And he said, boom, we started looking, marketing, targeting pharmaceutical sales reps. It's been golden. Half our franchisees have a pharmaceutical sales rep background. I was like, oh, I love this. Now I don't expect every Zore to have that much of a laser focused definition of ideal candidate, but the more you can give the consultant to help them find the ideal candidate for you, the better.

Lance Hood (FranPro): 22:39

Exactly. I appreciate that because that helps me when I'm working with clients to get an idea that maybe I should discuss this for sure. What are some things really quick that a franchisee or should have about themselves? There's two things that I'm thinking about. There you have the sales process right, because established systems have a very organized sales process. New companies sometimes are like let's just talk it out, I'll just answer their questions, give them a five minute spiel and they're going to buy this $250,000 franchise. So sales question questions and then questions about what makes them look really good. So picking the first of what makes a franchise look really good to a broker and a client.

Red Boswell (IFPG): 23:28

And item 19,. Tell you what a lot of Zores they talk to I might not have an item, I don't have a team. Ask them why. And they say, oh, the attorney said all we have is corporate locations. We can't really have one. Go get you a new attorney, get a second opinion. Give me a break here. You can't have item 19 numbers because they're corporate units. Whatever you want disclosure, how do you even talk about financial performance representations without an item 19? You can't. And what buyer is going to invest in an opportunity without some insights in that? Now, sure, you can go through validation, but a lot of them aren't going to get to the validation stage with the current Zs without item 19 numbers. Now you may be saying, yeah, red, but you just said in that scenario they don't have any disease, it's all corporate units. You can still talk to the managers at those locations. You can talk to people in the process that have no financial gain with you buying that franchise. You can disclose as a franchisor numbers in the corporate units. So an item 19 is so important these days as 80 plus percent of growing franchisors probably 95 percent of growing franchisors have an item 19. And the consultants would love to have some insights into it as well. What else can they do? That's best practices in the process of communication.

Red Boswell (IFPG): 24:49

A defining a semi absentee model help, more insight. So many great buyers are interested in more of a semi absentee building a lifestyle. Maybe they're high level executives not gonna leave that income. Do you accept it? When do you accept it? How do you accept it? Do they have to have a manager up front? Does the manager have to have equity? Do you train the manager? Do they? Still? The buyer has still have to be involved at least 20 hours a week. Really clearly defined semi absentee can help immensely. And then there's been changes with the SBA registry and how that's working. But still make lending as easy as possible with documented back to the item 19,. Documented item 19 and have everything you need so that the SBA, the banks, can make it simple and clear for deals to get done faster, easier, cause we know time kills deals.

Red Boswell (IFPG): 25:46

Another one, lance, is a visual visual of your discovery process. Hey, you got eight steps. Awesome, let's get a clear visual. Half the world are visual people. You can tell them the steps, watch, wrap, bomb. Give them a visual, remind them of it on every call. You're booking every call during this call. Right, this call I'm gonna book the next one. So you're booking that.

Red Boswell (IFPG): 26:06

These are some fundamental sales success factors here best practices, and we all most everybody hates the word sale. They like to buy but they don't want to be sold, right? Well, we are a trusted advisor, but there are simple principles in the trusted advisor relationship that any good salesperson follows as well. So, whether you call yourself a salesperson, you admit it or not, you have some principles that you need to follow. One is booking a call, the next call. On this call, showing them where they are in the process on every call, we're gonna be at this step. Next call and communicating that Frickin' Frack three way back and forth.

Red Boswell (IFPG): 26:44

Being at the retreat, the annual conference, being at regionals, getting in their magazine, doing audio podcasts, video podcasts, following the systems and utilizing the marketing pieces that the consultant referral group utilizes and offers to you can make a huge difference too. How are they gonna get to know you? How's the consultant gonna get to know you lack you trust you if you're not doing things to get them to know you lack you trust you? So, providing them those tools and resources, but also getting out there shaking the hands, flesh to flesh, breaking bread and building the relationships of trust.

Red Boswell (IFPG): 27:19

I say every regional discovery mixture that we have we have six to eight of them a year I say every time this is where deals start, this is where the deals began. Wait, what are you mean, red? We're just having lunch, we're having dinner, we're having drinks, we're doing speed networking, we're visiting some locations. Yeah, none of those deals. Three months, six months, 10 months, none of those deals are gonna happen had this not happened. First, the relationship building and the understanding of the opportunities. So I know I'm giving you a lot of answers here to a complex question, but it really is a complex issue that, when done right, can be absolute gold for the consultant for the ZOR, for the candidate for the community.

Lance Hood (FranPro): 27:57

Absolutely from being at those types of events. I can tell you that that's absolutely where you start seeing the franchise reps and the franchise Ores as your friends and you start to you get to know them and then you're like, when you talk with your clients, you're like oh, I know these guys, they're great. Like you know them not, versus they're just answering questions for you.

Red Boswell (IFPG): 28:21

Dude, how do you think I got this job, my calling here with IFPG or and I've been here over four years as president I was a franchise development rep.

Red Boswell (IFPG): 28:31

I was a franchise over for that, but I was a rep probably eight years working with all the consultant groups all over and I got this reputation for reliability, good communicator, friendly guy, likeable character, good leader. He knows franchise, he knows our world, good fricking fracker. I built that relationship and then when I left a franchise ZOR, I had two of the top groups in the world contact me. Hey, we wanna talk to you about coming on board with us and being our president. I wasn't even trying. I was gonna be on this ZOR side forever but because I did what you just said, lance, following through on every piece of the puzzle, built that reputation that I didn't even know they were watching me so closely and ultimately blessed with this amazing career that I've built now building IFPG to well. We've 10X'd our size and profitability in four years because of people see we care and we've got the best consultants out there because of our model.

Lance Hood (FranPro): 29:29

Well, do you have time for another question?

Red Boswell (IFPG): 29:33

Let's bring it on, buddy. I'm all over it. Yeah, this is fine.

Lance Hood (FranPro): 29:36

So, with the sales process, we talked about that earlier, and the funny thing that you brought up that I wanted to bring up is that you talked about people having to have an item 19. I have worked with a lot of clients. I've never once had a client say Lance, I have a ton of money, I don't care if this thing makes any money, I just need to spend it. And quick. It doesn't happen.

Lance Hood (FranPro): 30:01

No, no, they're looking for an investment and in some cases this is a career that, if it falls apart, everything falls apart for them. And so the biggest thing is is this going to pay my monthly bills and is it going to actually crumble or is it going to stay in business? And so what you're saying is they do have to focus on having a way to focus on their item 19, because that's the core, that's what people are buying, and so if you're not ready to present that, or if your numbers are not good, you need to go back to home and fix it there and then bring it out. You can't keep selling something that's limping along. You have to make it. If you make something amazing, it'll sell itself.

Red Boswell (IFPG): 30:45

Yeah, yeah. And the extension of that, lance, is so many Zores feel like they've got the greatest opportunity in the world, greatest opportunity since sliced bread. This thing is going to take over the world. They love it. They love their baby and their baby is the most beautiful thing you've ever seen. Now I may think that baby is a dog, but they, their baby, is golden right. They think they're just going to. People are just going to be lining up and buying it. They've got to.

Red Boswell (IFPG): 31:08

In the Bible it says when you get married, you leave your family, your parents, and you cleave to your spouse. Leave and cleave and I use that analogy with Azor. They talk to these emerging Zores all day long. And they're going to keep running their local original business and they're going to try to be a franchise or heck, they may even try to be the franchise development rep on top of that lunacy. I I did that starting out, but at least I knew I couldn't run my original business and be a franchise.

Red Boswell (IFPG): 31:36

Or you got to leave that business and you can still own it. You got to get some full-time management all day long. You are a Zore. This is not just your mistress, this is your new family and it's going to be a hundred times bigger than that original business. But it needs your full-time attention, and to the next level. You can't be a franchise development rep and run the entire franchise or organization to separate roles. So get some great somebody great in the franchise development role that knows their stuff inside, that not just your, your, your neighbor, your used car salesman, your cousin Eddie. Get somebody who really knows franchising inside now that has a reputation. You can ride their coattails of their reputation within the consultant community especially to a faster success rate than just learning as you go and burning leads left and right and developing a bad reputation in the process.

Lance Hood (FranPro): 32:24

Right, Because also they might have all those relationships that we've already talked about established and on day one they get their head wrapped around your business and they can run.

Red Boswell (IFPG): 32:34

Yeah, those guys aren't cheap, you know there's. I say often there's nothing more expensive than a cheap attorney, there's nothing more expensive than a cheap CPA and in many ways guys, there's nothing more expensive than a cheap franchise development rep. Hey, for a good one you're going to get good results, as long as you got a good model. And the good ones know if you've got a good model, though.

Lance Hood (FranPro): 32:53

From your experience as a franchise or and from a consultant group and everything that you've done. What is? What is a good basic framework? Cause it's going to be tweaked and different with different companies, but what's a good basic framework to follow for a sales process or awarding process for a franchise?

Red Boswell (IFPG): 33:13

You know people, uh, time is of the essence more than ever and the? Uh access to information is that at all time, high right With the, the Amazons of the world. So so many candidates and social media and everything else. So many candidates are researching everything. Well, before they talk to you, they're like I don't want to talk to some sales guy, and guess what? 20 years ago, hey, we, we own this process. Here's my info. Oh, let's have a call.

Red Boswell (IFPG): 33:40

Before I give you my brochure, you need to fill this form out before we talk. More than 10 minutes. Guess what? The candidate, the consumer, is in control more than ever. So you can deny it, you can find it and you will fail. So get them as much info the videos, the social media, the just tons and tons of info. Well, guess what? If you're not providing that info, someone else is, and they're probably your competition. Find as much videos and content and excitement and interest and visuals, everything possible out there in all the different media that you can, because the candidate is researching it prior to ever talking to you. And then, once they talk to you, guess what? Because you've done it properly, because you've educated on properly, whether they came from a consultant or not. Now they're going to go through the process faster. They're going to likely be much more qualified because you've weeded out through your clear communication before they ever talk to you. You've weeded out folks who don't meet that criteria because you've communicated the proper criteria and they are more engaged, more in love and again close faster. They're going to be better franchisees.

Red Boswell (IFPG): 34:54

So, clearly, providing so much communication beforehand and then, once they're in the process, again book the next call on this call so you're not chasing them. Give them homework on every call. Give the fricking frack. Tell the consultant if it's from a consultant what the homework was so they can hold them accountable. Money's call Just be on your A-game man. Don't treat this like so many zores. Just don't follow up. They don't respond. They don't. Fricking frack, I mean we're a broken record on this call. But if you're engaged with the communication up front during after, it's going to be a more fun life. You're going to get better candidates, better Zs, more profitable, make more money, have more fun. It's going to be greatest career in the world for the right folks. Or it can just be a miserable failure for folks who aren't really following, communicating and providing the right content.

Lance Hood (FranPro): 35:43

Absolutely. You know you talked about, you know it can be a miserable failure. I would think, as a franchise owner, when you're first getting started, that's when you have the most money right. The longer your franchise development goes and you're not bringing on franchisees, you're being drained. So you got to make good decisions up front, not not not have a long learning curve.

Lance Hood (FranPro): 36:07

So listening to information like this can help you take action and get results while you're still in a good place, versus getting fed up, and I think you're right, as is they don't want to be wearing all hats you have.

Lance Hood (FranPro): 36:20

You know you have to do this and and that motto, thought of exposure, having exposure to find franchisees is good, but access to you, I think, is even better because, like you said, is they're going to start doing their research and if they have access to even one other guy and no access to you, they're learning about them and they're going to forget about you because they're digging deep into that content.

Lance Hood (FranPro): 36:44

So they have to have that, which makes me think of the marketing materials that people put out. Some of it can be very effective, some of it isn't, but I would think that getting when they get to know the people, it could be the founders or all the people. That creates a human connection and they feel like they know you and then they look forward to I oh, I actually find I'm going to get to meet red. Like this is cool, you know, like it means something versus just our CEO, which I don't know that that might feel like meeting the CEO where you're currently working, which may or may not be a good experience, but meeting red, well, I've seen him on video, I've listened to him. I like this guy, yeah. So what do you think are the marketing materials they should do and which ones aren't necessarily getting them the the bang for their bucks? Like, where should they put their attention?

Red Boswell (IFPG): 37:36

Video is stronger than ever. We're in a video world now, right, and short, sweet video snippets. I know this is a probably 30, 40 minute interview, you and I, but you're going to make it in a whole bunch of little snippets, right? You're going to cut it out and parse it and folks are a lot more likely to watch that 30 second to two minute versus the 20 or 40 minute. So a bunch of great little snippets, testimonials in written form and video.

Red Boswell (IFPG): 38:01

Certainly it can be a powerful, powerful tool. Have your YouTube channel, have your little Instagram, have your TikTok, maybe have your LinkedIn. Have all those and don't just post once a year. Keep it up to date. Most doors are not social media freaks like I am, and so get somebody that loves that, that gets you, gets your brand, and get them not just posting generic stuff that people can see through. Some cold PR firm up in Biloxi or wherever Biloxi ain't up, but anyway, some PR firm that doesn't live my brand, day in, day out, grabbed some stock photos and posted something generic about being business for yourself, but not by yourself. With us, you know. Make it real. I mean, I am so committed to authenticity and this world now is as well, they can see through it. And you know I post stuff. I'll do one take, post it. I don't even have captions Now I'd probably get a few more views with the captions, but I just want it real raw and they see the passion, they see the love, they see your brand as it is and they know this guy really just did that on one take. You can just tell because there's little funny bloopers mixed in. So I just love the authenticity and to your point, video is number one and the authenticity of the video of the interview, of the testimonial, of the live at an event can make a huge difference.

Red Boswell (IFPG): 39:26

And, lance, if I may go back for a second, you mentioned some mistakes Franchisers are making. I'll give you three quick ones Low franchise fee Get that franchise fee up there. Stop being wimpy and saying, oh, we're new, we got to have it low. It's ridiculous, it's embarrassing, it's a life decision. Get it up there. You got a lot to pay for. You ain't going to lose a deal over a $20,000 franchise fee increase. Number two underfunded Franchisors is going to take you a lot more money, a lot more time than you ever imagined. You've got to be funded well or you're going to crash and burn.

Red Boswell (IFPG): 39:54

And number three that came to mind just wrote down resales. Have a resale program. Now you're brand new. You don't have, you're not going to have resales for a long time. Get a resale program A to Z, everything about it. Who's obligated to what Commissions? From the seller to the consultant? Can a franchisee sell a candidate in validation? Their franchise man? It happens a lot. A candidate's in validation. They're doing validation with a Z. Z says buy my franchise, okay, what does that Z have to pay the ZOR? What's their financial obligations? Or, more importantly, to the consultant Can they even do that at all? So just get that documented from day one in the office manuals in your training. Remind them of it. Often those three things are huge. I deal with them almost daily, those three, and if you can get those three handled you're halfway there to overcoming a lot of mistakes franchise ZORs make early on.

Lance Hood (FranPro): 40:42

Absolutely Red. You're a fountain of wisdom.

Red Boswell (IFPG): 40:46

Tell my wife.

Lance Hood (FranPro): 40:49

Next event, all right. Well, I appreciate you and I just wanted to thank you for your insights and these kind of processes and steps that you've shared with us. And I would tell anybody if you're looking to have consultants help you with your franchise business or looking to be a consultant, go to this link https://Franpro. vip/GoIFPG. They're well known, huge company. Awesome, thanks, red.

Red Boswell (IFPG): 41:19

You're awesome, lance. Appreciate everybody on here. Franchise is a wonderful industry. Lance is a great, great consultant and we'd be honored to help get you clarity on this model, help you figure out if IFPG is the right fit for you and what you want to accomplish. Let's go do it. Thanks, lance.

Lance Hood (FranPro): 41:33

Thanks.