Lance Hood (FranPro): 0:09

Welcome everybody. Today I have Red Boswell, the president of IFPG. Red, welcome to the call.

Red Boswell (IFPG): 0:16

Awesome, lance. Thank you, great to be here.

Lance Hood (FranPro): 0:19

Red. Can you briefly introduce yourself and give everyone a little bit about your background?

Red Boswell (IFPG): 0:24

Sure, you know I'm a franchise geek. I've been in franchising about 20 years helping people achieve their dreams in business a whole lot longer than that and an entrepreneur since the womb. Just love what we get to do every day, impacting communities and lives with franchising. Now, as the president of IFPG International Franchise Professionals Group, again, we're best known as a broker group or a referral consultant organization the largest in the world, but we also have several other entities, including franchisewirecom, the industry's favorite news source, and several others. So we're really about connecting franchise professionals and connecting the world to franchising.

Lance Hood (FranPro): 1:05

Well, can you tell everyone who's not familiar if that's possible with IFPG, what you guys do?

Red Boswell (IFPG): 1:13

Sure, on the consulting and brokering side of things, we have about 650 individuals. You think about real estate agents, kelly Williams and Remax. They have all these thousands of independent agents. Well, we have 650 plus independent consultants. They're out there helping people, not by houses, but helping them identify and purchase franchises. They're matchmakers, if you will, in that arena, lots and lots of folks, especially in that 50 and 60 year olds, are being displaced. They're getting age discrimination, they're frustrated that lean that ladder against the wrong career wall, if you will. And so our consultants are out there helping folks.

Red Boswell (IFPG): 1:56

And then we have over 600 franchisors that we work with, helping them find the best buyers, matching them with folks instead of a franchise. We're having to go through a thousand leads, much of which are very low quality, uninterested, unqualified folks. We introduce them and they're going through maybe five or 10 to find the right fit and award franchises. So it's a match made in heaven, with the franchise consultants helping those franchisors to find the right buyers. And then, as an add-on, we've got over 150 vendors or suppliers to the franchise industry that work with the zores, work with the consultants and are supplying, whether it's attorneys or marketing companies or funding sources, or we franchise your business companies, all those and many, many more insurance, real estate, you name it. We're all working together connecting franchise professionals through the IFPG membership network.

Lance Hood (FranPro): 2:54

And how would you say IFPG is different from other broker networks or groups?

Red Boswell (IFPG): 3:00

Well, boy, we got three hours right. Well, one big one is we are hardcore on technology. We want our consultants to have the most efficiently run businesses out there. Another would be our inventory. More franchisors work with us than anyone, so that certainly helps the candidate, helps the consultant. And well, a big one is our consultants keep all their commission. How crazy is that? It's part of our core model is if we have the best consultants, we win. And so providing them the best inventory, the best technology, the best ongoing support and training whether it be at the front end, becoming a consultant or the ongoing training and support and then let them keep all their commission. The franchisors, the suppliers or vendors they pay considerably more to be a part of IFPG. And again, when you're the best consultants out there and you're giving away tons and tons of your income to someone else, they get pretty attracted to IFPG real quick.

Lance Hood (FranPro): 4:03

Well, what do you think are the biggest problems you guys solve for franchisors? And I know, and you could even lean into brokers too, but I know it's like, yes, you help them find franchisees, but what else would you say are the biggest problems you guys help them with?

Red Boswell (IFPG): 4:20

Well, three easy answers here. Number one financial risk. I was a franchisor for many years. I was a global chief development officer for a couple of large global brands and we're investing tens of thousands of dollars over and over and over in hopes to get a lead, to get a deal to award a franchise Big time risk. I mean I was spending and sometimes on some avenues, some lead sources 50 to $80,000 to get one franchisee. Well, with the consultants, we're providing it at a minute fraction of that. And then the franchisor pays a commission, a success fee after the fact, reducing that financial risk infinitely.

Red Boswell (IFPG): 5:04

The other two reasons go hand in hand. Now you've got a great lead. You have a candidate who is very interested in you, financially qualified, the geographic preferences match what your availability is in the market. They've got someone hand holding them, a wingman, if you will, that consultant helping them through the process, and so now you've got a candidate moving through your process faster.

Red Boswell (IFPG): 5:29

You're enjoying life as a franchise development representative. You now get to work with someone who wants to work with you instead of calling folks who have no money, think they applied for a job, don't speak English, et cetera. So now you've got a great candidate. Your Fran Dev team is happier and, most importantly perhaps, is now you got a great Z, that franchisee that has been brought to you by the consultant and becomes a Z. They know the power of listening to someone who's gone before them. Following others advice. They moved faster through the process. They've more financially qualified and now they've got a happier, more qualified Z moving forward which pays your royalties forever. You know that's the ultimate goal of any good franchise or earn those royalties With partners you want to work with.

Lance Hood (FranPro): 6:15

Yeah, absolutely. You know I used to tell franchises that by the time I bring someone to them, we've been through hours of conversations. We understand what they're looking for, their financial situation, their, their psychology, mindset, needs, and we presented things to them and we've talked with lenders. So by the time they get to them they know who they are, they want to do business with them, they're financially qualified, they're already sold. They just need to really go into the details of the business. So it's much better than you know calling numbers that nobody calls you back.

Lance Hood (FranPro): 6:48

And it's not cost to you, because there's nothing unless there's a commission.

Red Boswell (IFPG): 6:53

Amen, yeah, like like buying that house realtor's working for you a day and night here, oftentimes for free, and they get compensated on the other end by the seller. I keel on and on, lance, about why. What makes us different? We do have a sister company that's an in-house lead provider for our consultants. It's a big concern of a lot of new consultants. Where in the world am I gonna get these leads? And all the events we have and the support structure we provide second to none. So it's a fun, fun business. Never been a better time to be in franchising, and certainly in the franchise referral space.

Lance Hood (FranPro): 7:26

Can you share a couple stories of maybe a some dramatic impacts that I have? Pg is made for some franchise source or even some brokers boy.

Red Boswell (IFPG): 7:37

You know that might be on my list of books to write. I mean, there's a few thousand chapters on that. We I have PG and our wonderful network of consultants and franchise ores will award well over a hundred franchises a month. Think about that. Lives change through franchising in the one to 2,000 new business owners per year. And so, yeah, there's a lot.

Red Boswell (IFPG): 8:02

We see franchise ores let's start with that over and over again, frustrated about development. You know this is their baby, this franchise, or has invested their blood, sweat, tears, their life into this model. They love it. It's the most beautiful model They've ever seen, just like my, my baby daughter. It's the most beautiful creature I've ever seen. And they can't understand why everybody else doesn't see the beauty, you know. And so they they've. They're frustrated. They've dropped a whole lot of their life savings into marketing trying to get franchisees. They're just just staying frustrated. And so they find out about the consultant model, the Brokers as the industry calls us, and they realize the low financial risk, all the things we talked about, and they dive in all in.

Red Boswell (IFPG): 8:46

Yeah, now, franchise ores who want to just test the waters with consultants very rarely succeed. But those franchise ores who realize we're the number one source of awarded franchises in North America, outside of just the organic leads that they get from walk-ins. So the number one source with the lowest financial risk. What's, oh my gosh, what's? What's? What's the catch? Well, you got to be all in. Yeah, relationship building takes time to ramp it up and for the consultants to get know you. So the lives We've changed on the franchise ores side are, heck man, a third of the industry. I think we've changed through allowing them to have that less risk and get identify a much higher quality franchisee. Oh Heck. A burlow mattress is one that comes to mind. They were, they were with us for a year and a half, frustrated, not really all in, and then they just woke up one day and said you know, let's do this right. They got serious and they've been awarded franchise left to right. Another one that comes to mind we didn't get prep on this, so I'm just thinking off the top of my head Ellie mental health. Whoever thought a mental health clinic could drive in the franchise space? And yet here we are with over 400 Ellie mental health clinics across the country in about two years. It's been amazing to see that and you know it's even cooler with them and Mental health. It's a need. Lots and lots of lives are so. The Zors lives changing. The franchisee is their life is changing that of their family and their extended family, and now they're so positively Impacting their communities with mental health support.

Red Boswell (IFPG): 10:21

There's a couple examples, lance, on the on the consultant side, we've seen time and time again whether it's a younger consultant like you who has come into this world of entrepreneurship and their eyes have been opened, or Older end of the spectrum, me and beyond who are just fed up with the rat race and the politics and the you know, glass ceilings and just the junk that's out there, laid off for the 18th time, then can't find a job that pays them what they were getting paid for. On and on and on. The people oftentimes fool themselves to think that a job is Secure and yet they keep getting laid off and bumped and maybe a little severance. Usually not. And so the idea that they could take their life into their own hands actually own it. Take that. Maybe it's their 401k or IRA, their retirement savings, and instead of investigating into the market that they don't even know what companies are out there. They have no influence on it, they're just hoping on a prayer that they're gonna make something. Now take that invested in your own C Corp, build your own destiny and own it. And now you're not making 2% or 8% a year You're doing, put in some zeros on that, sometimes through franchise ownership and the, the Intangibles that you get from that.

Red Boswell (IFPG): 11:36

So, over and over and over, I see consultants being able to do that for their own family as an IPG consultants. And now we're double-deep in. I know it's a long answer, but you see the franchise consultant change in their life and then they're changing lives of others and so how, how fulfilling, how rewarding. It's kind of like. I mean, I call myself sometimes a franchise evangelist because I get so passionate about it, but all our IPG consultants out there in a way or that are that too. I mean. Think about. When I was growing up I wanted to be a pastor until I found out what pastors make. Well, I can impact lives positively in franchising and maybe a whole lot more. So I'm getting a bonus on on all sides. So, yeah, lives are being changed so so positively through franchising and through franchise consulting.

Lance Hood (FranPro): 12:23

Well, can you walk us through the process of how you help franchises? Maybe they're having their initial call through actually being part and, you know, being engaged in the system.

Red Boswell (IFPG): 12:34

How we help franchises. So there are a dozens and dozens of things we do with that franchise or and their franchise development team or person to get them connected, get them exposure, marketing, if you will, to the consultants. Now our marketing is marketing that opportunity and the team behind the opportunity to the consultants. We're not out there marketing it to the world. Ipg is not, now the consultants might. So now, how about having 650 free bird dogs? Go back to that, the sales world, the marketing world.

Red Boswell (IFPG): 13:10

If you own an insurance company or a real estate firm or any of those, you're looking for folks to open doors for you, to make introductions for you, and then you give them a nice fact commission, if the deal happens.

Red Boswell (IFPG): 13:19

Well, that's what you got with IPG hundreds and hundreds of folks out there opening doors for you for free, relatively speaking, and then paying them a commission. So when a franchise or comes on board, we have a big launch call. This is behind the scenes, with planning and training, making sure their company profile is up to date, videos, ideal candidate profile. We look at the count and a whole whole bunch more downloads and everything a consultant could ever want to know to be able to present that brand to their candidates and ultimately match the candidates with the right opportunities. Think about, it's a little overwhelming you have 600 plus franchise opportunities. How do we narrow it down to six? You know it's a, it's a process, some science to it, some art to it, but we provide all the tools to the consultants and all the availability and access to the franchise oars for all the parties, information and opportunities to to sync and, after a little bit of training by us and the support technology in the back end, it's not a complicated process to ultimately make those matches right.

Lance Hood (FranPro): 14:27

And you know, just because they're featured in front of all the brokers doesn't mean that you're necessarily going to get traction. There's certain things that cause a broker to go. I don't know about this company or I love this company. I'm excited to tell my clients about them. Can you give them some insights into those things that companies need to be ready to sell their franchise?

Red Boswell (IFPG): 14:49

Absolutely so. You know, you know level, economics, happy franchisees, validations all of that is critical. Now some of the emerging brands don't have those these yet, so that's a little bit of an obstacle, regardless of lead source. But you got to have some. Get some videos. Get a video or two at least about your brand. Let's get a solid website. Let's get a clear communication on what your ideal candidate is and isn't, and on and on and on. Regarding have your house in order, you know, when I was starting to date in my 20s on my teams, but when I was getting serious about dating in my 20s and maybe finding that spouse and I didn't have my house in order, my savings was about 1200 bucks. You know. I mean I did not have a great career path, I was not ready to find a spouse, and so same thing with the franchise. Or are you ready? You have a training program in place with the solid ops manual. Did you use a franchise attorney to build that FDD in the agreement and there's about 30 or 40 other things. But having the house in order first and now have that franchise developer wrapped. It knows what they're doing. I mean the analogy I use I'm an analogy freak is if, when you have your kids I have my three little babies that now are pretty much grown but when we were looking for a somebody, a babysitter the babysitter themselves super important and the house super important. So if we're going to take our baby that you know is our life and let somebody else take care of it, I want that house to be safe, I want that house to be in a good neighborhood, I want that house to be okay for my baby to stay in. But you know, it's more important than the house, the babysitter, and so what's more important oftentimes than the franchise opportunity itself is who's representing it. And so whether you you the franchise development rep working at a franchise, or are dealing with a candidate, someone interested in their brand, or dealing with a consultant who's going to find them candidates, either way, if that franchise development rep does not know their stuff, know the answers to all the things that the candidates are going to ask and the consultants are going to ask, that they're going to be dead in the water. You can have a great opportunity in the world If your franchise development rep is not a likable, seen as a trusted advisor not greasy, you know has their act together, helps the candidate see themselves moving, transitioning to this new world. You're fooling yourself and so oftentimes, lance I talked to emerging brands especially that the founder, the number one, most passionate person in the world for the brand, the expert on the brand is going to try to do franchise development.

Red Boswell (IFPG): 17:27

You know Kudos, occasionally it works. But you're the CEO, you're the founder, you've got the original business, now you've got a franchise business, you've got all the resources behind the scenes, all the things you've got to do for that and for that, and suddenly you're going to do franchise development too, which is a full-time, dedicated job. If you plan on adding more than two or three franchises a year, so get the right franchise rep. I know it's a long answer. Again, I get passionate about this. I see so many Zors floundering, not serious about franchise development. They just think they're gonna open. You know they're shingle and folks are gonna flock and rare, rarely is that case in the case.

Lance Hood (FranPro): 18:01

Yeah, well, the thing that I noticed is running your own franchise. You have a business, you franchised it, franchised it. That's one learning set, right, yeah, but when you have to then sell those franchises to somebody else and Then help replicate what you did with completely other people, those are two Unrelated skill sets. And you have three skill sets instead of one, and they're just not prepared for it.

Red Boswell (IFPG): 18:27

Yeah, yeah, you know what they say in the Bible. Going back to the preacher days here Mm-hmm, you got to leave in cleave. When you're get married Is you're leaving the mom and dad and you're going to the spouse. And when you become a franchise, or guess what, you're no longer whatever you used to be. Let somebody else run that, sure you can oversee it.

Red Boswell (IFPG): 18:46

When I was franchise, or 20 years ago, 18 years ago, 15 years ago I hired somebody to run that business for me. They checked in with me one an hour a week. I had some metrics on my computer. I was watching to make sure they had it together. But, man, I'm a franchisor. This franchise business gonna be a hundred times bigger than the mom and pop now. The mom and pop was a seven figure business Annually. But, man, you got to have all hands on deck, focused on your new life, divorcing that old business almost, and Get going with the new life. And you know, when I started building it up and got to around a hundred franchisees, I actually sold the original business. I don't need any distractions. Let's move all a all everything into one Basket, if you will, because, right, that was my life.

Lance Hood (FranPro): 19:30

Well, you know, you mentioned something and I've not asked people this question, but I've noticed it. So if you have somebody who is a company representative that's helping companies sell their franchise, and they're they're they're just not ideal, maybe they're just not. They've kind of they don't do a good job and then they move on and somebody who's new to franchising goes oh, you have five years in franchising and they, they rehire them and it keeps going. How does a new franchise or identify that really good rep that's gonna have good relationships and connection in the industry? Because there's some Company reps that are so good that if they move to any company, everyone's gonna follow them and promote that new company, and there's ones where, if they move to a company, nobody's gonna promote that company. How do, how does a franchise or not being part of this world, figure out who to work with?

Red Boswell (IFPG): 20:23

You know it's like when you're hiring someone, a critical person or really anyone for your company, you're gonna call previous employers, call previous franchise or let's talk to other spheres Vince Flynn Certainly you're gonna ask for some Referral sources from the candidate. But also look at their history, look at their past and go direct. If they didn't give you that Zor, but the Zors on their LinkedIn, let's go talk to that franchise or and, and get a little bit of the skinny. And most, most of the time you could read between the lines they're not gonna say anything too negative. But the same time, you, you, you got to listen closely and you'll hear what you need to hear.

Red Boswell (IFPG): 21:01

Asking that candidate, that franchise development rep that you're looking to hire, asking them about how many franchises they've awarded. Asking them some simple questions you are your new franchise or you're not the expert. They've been at it a long time and they're a salesperson, so they can snow you sometimes, but really just listen to the answers thoroughly. Talk to a lot of folks about them. Because, guess what, when you're buying a franchise, what do you do? You do validation. When you're hiring somebody to represent your baby, you're doing a lot of validation behind the scenes to make sure this is the right fit. Think of all the money and time and life and effort you invest into a brand and you get some bozo to represent that brand. You hire the. You know that your neighbor, your, your brother, law down the street your use car salesman. Get somebody for real, pay a little extra. It will make all the difference. You know, lance, I, when I was a franchisor, I Started saying I'm gonna get a tattoo that says there's nothing cheaper than, there's nothing more expensive than a cheap attorney.

Red Boswell (IFPG): 22:00

Because, it's so true, and that you can extend that in a lot of areas alive. Nothing more expensive than a cheap CPA, nothing more expensive than a cheap franchise development rep. Pay for good, pay for quality, it'll. It'll come back tenfold.

Lance Hood (FranPro): 22:15

Yeah, they represent your brand. So what would you say? How long does it typically take for companies who engage who really engage with IF PG to start seeing results, start getting some Referrals sent over and get some traction?

Red Boswell (IFPG): 22:30

You know that is such a big question. Get some traction is very relative as well. Some brands get there a whole lot faster than others, and the elephant in the room oftentimes is the emerging brands. You know, emerging brands. I go we got zero franchises, we got eight franchises. Eight's a lot better than zero. But, regardless of lead source, it's just a tougher road to hoe. Or is it row to hoe farming scenario? Okay, row to hoe, it's tougher, but so they can take a little while longer.

Red Boswell (IFPG): 23:04

But how do you with them, with the consultants? How do you have success? We talked about a good part of it earlier have your house in order. Now that your house is in order, you got an outstanding opportunity. You got an item 19, you've got your franchise brochure and all the other pieces of the puzzle. Now it's time to market it, and with the consultant community it's no different. Instead of marketing to the world through the portals and through, you know, paper click and maybe trying to get some PR and all those things, now you're marketing to the consultants. Let them find the buyers for you, and so investing some money into marketing is critical to success within the consultant networks like IPG.

Red Boswell (IFPG): 23:42

If you just sit there and wait. You're gonna be waiting and you're gonna have some trickles. You're gonna have some that come your way. They're gonna check if the territory is available, but then you hear nothing. Crickets again.

Red Boswell (IFPG): 23:52

So, building getting the consultants to know you, like you, trust you, then they will show you. They'll show the your brand to their candidates. Well, you know, love you does not happen day one. Oftentimes they get these know. You see you're serious. Understand your brand. Get to know your friend ever app if they don't already know them, now if they already know them. You just jumped a few hurdles real fast and and you're validated by a known entity, rock star friend ever app, man. Kudos to you for being able to track such a rock star. Most can attract a rock star. Pay for them right off the bat or willing to pay for them. So get in there, get, start building the relationship, start following up quickly. Start follow up thoroughly. Show them you know what you're doing. They'll start giving you their babies, the babies. It's not a deal yet, but these are folks that are can, really qualified in every way and interested in you. You need some deals happening, mm-hmm. Just take some time and effort and money.

Lance Hood (FranPro): 24:49

Yep, and I would say, if you're new or struggling, one thing I would do is write out all the list of things that you don't want to talk about and Then make those to where that you do want to talk about them. Make them something that stands out, because there's things where you know it comes to income right of 19. You're like, oh, I don't want to talk about that. Well, make it to where you do want to talk about it, those core things. Like if you go to a restaurant, the key thing of the restaurant is is the food good? Now you can take a place where there's bad food and put up a fancy new sign, do TV commercials, paint it, furnish the room, get the best wait staff, and the food is terrible.

Lance Hood (FranPro): 25:28

Well, with a franchise, that's your business opportunity. You know you can do all this stuff, but is the business opportunity still need to be improved? If it does, it's going to be a slug and then All the consultants are going to be like the company's not ready. So you're just fighting an uphill battle until you make those necessary improvements.

Red Boswell (IFPG): 25:48

Bro, and if you don't want to talk about your item 19, get out of the business. Oh my gosh, that's the most exciting thing You've got. This is the earnings claims that I'm allowed to share. Let me tell you what you can do. You're ashamed your item 19 and pause.

Lance Hood (FranPro): 26:02

Get it fixed, yeah, and move forward because you're gonna hurt people if they can't make money with your opportunity.

Red Boswell (IFPG): 26:07

You're gonna waste your life and your money and your effort and everything else too You're not gonna sell anything. You got a sad item 19 and if you don't have an item 19, let's find out why. I mean some attorneys tell you oh well, you only have corporate stores. You can't do out of 19 not even go chop, go get a new attorney. You're only in Canada. You can't do a US 19, seriously, it's. Let's get a second and third opinion there.

Lance Hood (FranPro): 26:30

Mm-hmm. Well, maybe my last question for you is what are some of the common mistakes that franchise or is make when working with brokers, and how can someone get the best results possible?

Red Boswell (IFPG): 26:41

my gosh, another Three hour answer, brother. Oh, oh, all right. Well, I see on on YouTube I've got the top ten mistakes. I see franchise or is make it Constantly. We've got a ten little two minute, three minute videos on that and I got about 40 more in my in my list here On my computer somewhere. You know what. Something that is just a mistake I see over and over again Too low IFF.

Red Boswell (IFPG): 27:06

Your initial franchise fee is too low. Now how does that relate to consultants? It relates to everything you do in franchise development. A low franchise fee Because you're scared to charge what you're worth, because some attorney Told you that while you're emerging you, you really can't charge what others charge. Or well, you know, I'm a pizza restaurant and pizza hut charges 30. So I can't be above that. Dude, you ain't pizza hut, you need to make a living now. You're not a billion dollar company, so people are scared to charge what they're worth and charge you know what.

Red Boswell (IFPG): 27:41

This is a life decision. If I'm a franchise candidate and I'm looking to make a life decision, this is bigger in my house. That's what I'm gonna do every day. I want the best. Yeah, money's important. Yeah, money's tight, but, dude, I'm gonna make, I'm gonna get the best. I see one for 25,000 franchise fee and one for 50, and I bet that 50 is a whole lot better than 25. You know what? The all-in investment 400, so an additional 20 or 15 or 25 in your franchise. So you ain't gonna matter, is it? Is it 390 or is it 410? I don't know the difference. And they don't either. They're getting a loan for five. So get serious about a franchise.

Red Boswell (IFPG): 28:17

There's so many things you got to pay out of that, maybe a consultant commission, but certainly marketing training, onboarding, maybe an initial package with the front that's included. Lots and lots. That's in that. Now. Other things are Uh, believing and not hiring a good franchise development rep. Um, not getting all in trying to uh, keep your old life and your new life and intermingling them too much.

Red Boswell (IFPG): 28:41

We already talked about that. Um, not having a 919, not having Good, solid franchise marketing materials and a franchise Website takes folks through a process. You know, today more than ever, everybody wants to know as much as they can before they talk to some sales guy, sales gal. Well, are you providing it? Because you know what, if you're not providing it, somebody else is and they'll go there, or somebody's already talking about you in a negative way perhaps, and they're gonna see that and not your 100 different ways that you're awesome. Oh, a little little selfish plug franchise wire does that for franchise or is every day writes Custom articles on the you know number one news platform and franchising for franchisors. So that's something that we help Significantly with SEO and with articles out there.

Lance Hood (FranPro): 29:27

You know, one thing I wanted to ask you red is is you know, I see franchise source putting out random promotional materials, like they have all these marketing materials or whatever. Um, it's, it's just you know what do you do with it. So can you let them know what's needed and what's necessary when it comes to the promotional materials that you're making Uh and handing out to either franchisees or brokers?

Red Boswell (IFPG): 29:53

You bet. So we have what's called a two-minute drill. Two-minute drill in franchising is everything that a candidate or consultant need to know about your business in two minutes or less. It's kind of like that 30-second elevator pitch. Give me the skinny. And so what is important, they don't care where you went to elementary school, mr Franchise. They don't care where you met your spouse in junior high. Now, as you take a candidate through the process, they're going to be partnering with you for the long term. Hey, those are great things to talk about, but let's get them interested. Let's get them excited about it.

Red Boswell (IFPG): 30:27

To give a few numbers from your item 19,. Perhaps Tell them how many units you have, how long you've been around average unit volume. Give them some some snapshots. We're very visual society nowadays. Give them some links to your social media pages. You do have social media pages, don't you? Keep them up to date with all the exciting things going on in your brand? Your reviews online are they rocking? If so, let's get some links to them. So what's important now With consultants?

Red Boswell (IFPG): 30:54

The commission structure is a factor out there that they do need to be communicated. They do need to know. We never suggest you put that in any downloads or in any two-minute drills, unless it's a physical one you're handing out, maybe at a convention. Our technology and the profiles we build for the franchiseors include all that. So it's old school to include commissions in a two-minute drill. No need to do that anymore on any download. But really it's a thorough assessment two minutes or less about this opportunity, who you are, and maybe even include a little bit about your ideal candidate. If you like this, if you've done this, here's what you'd be doing day to day. Keep it short, simple. Get other eyeballs to review it. Does it make sense? Is it enticing? A lot of times you're again blind to your beautiful baby that nobody else thinks is so beautiful. So help get help from outside sources to create those.

Lance Hood (FranPro): 31:46

Yeah, I think they're focused on more quantity versus more quality, and some of them are so close but not there, because I've seen things like an email from a brand saying hey, we just opened a new franchise location. Again, you know, lux strikes again. When I see that in my email, I'm like, okay, you know what would be more exciting? Our brands just hit an AUV of $1.7 million for the year. That is more important to me than you saying you opened up a new location. It doesn't mean anything to me. I wasn't the one who referred it. I have no interest in it. Show me that you're getting amazing results. Now I feel left behind. I feel like, wow, this is a great brand. I should have been promoting this. So just those tweaks of thinking about the person who's receiving the information and how it's being received to them, not just putting out more.

Red Boswell (IFPG): 32:43

Lance, that's good. I would dub tell them that there's a balance, because, man, we say this all the time. I hear it from top consultants Leads, follow deals. Get the word out. Shout to the rooftops when you are doing deals. Include the AUVs, include the benefit. Maybe include a picture of the new franchise. Z and their profile. Again helps the consultant understand who are you looking for, who's your ideal candidate. Because when they see, when these consultant see deals happening, brands growing, thriving, with new franchisees, they take notice.

Lance Hood (FranPro): 33:16

Right, especially if you can say stuff like you know, 15th deal this year or something like that, you know. Definitely it shows momentum for sure. Red, I just appreciate having the time to be on this call with you, spend this time with you, pick your brain. You're such a smart person, you've been around, done it all, so thank you for being on the call.

Red Boswell (IFPG): 33:39

Honored Lance. Thank you for all you do to change lives and franchising Guys. Check out Lance, he's the man. Appreciate you, brother Holler, anytime.

Lance Hood (FranPro): 33:47

And I'll just tell everybody if you're interested in IFPG, go here and check them out https://Franpro. vip/GoIFPG, Thanks, red.

Red Boswell (IFPG): 33:59

Appreciate you, Lance.