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CATEGORIES: Business, Franchising
What if your franchise could generate predictable profits every month without the constant hustle? In this episode, Stu McLaren, an expert on memberships and recurring revenue, reveals the missing link that most franchises overlook.
Stu and Erik dive deep into the world of memberships and how they can transform any franchise system. Whether you're a franchisor or a franchisee, understanding the importance of predictable profits and creating a community can unlock massive growth potential.
Stu shares key insights on building effective membership models that generate consistent income and discusses the critical mindset shift needed for business owners to go beyond just one-off transactions. He emphasizes the significance of focusing on transformation and how franchises can leverage this to scale. Stu also reveals strategies for building communities that engage and retain customers, all while avoiding common pitfalls.
Want to learn how to add recurring revenue to your business? Tune in for actionable tips to skyrocket your growth and stabilize your cash flow.
“It's not about the stuff; it's the transformation. That's what people are buying. If you can give people the transformation in a shorter amount of time and make it easier, it makes an absolute no-brainer. So it's not about the volume, it's about the transformation." ~ Stu McLaren
In This Episode:
- Stu McLaren’s background in entrepreneurship
- How membership models are relevant to franchisees
- The different types of memberships
- Developing a subscription model within a franchise system
- Case studies of successful membership models
- Mistakes to avoid when creating a membership model
- Why giving too much might hurt your offer and what to do instead
- Lessons from Stu McLaren’s book, Predictable Profits
- Why franchisors should consider membership models
Resources:
🌐 Consult with Erik - https://form.jotform.com/222685728939070
🌐 Want to buy a franchise? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
🌐 Want to franchise your business? Connect with Erik here - https://forms.gle/n4JedEuU5p7asE617
🌐 Franchisees and franchisors find proven tactics and strategies to scale YOUR businesses - https://scalablefranchise.com/
🌐 Franchise Springboard - https://franchisespringboard.com/
🌐 Book: Predictable Profits by Stu McLaren - https://stu.me/predictable-profits
Connect with Stu McLaren:
🌐 Website - https://membership.io/ and https://stu.me/
Connect with Erik Van Horn:
🌐 Website
Erik Van Horn is a franchising specialist, and expert in multi-unit, semi-absentee franchise business ownership. From entrepreneur to regional developer, and investor to consultant, Erik has worn many hats over the last two decades, which has provided him unique insight into complex aspects of the industry. If you're a franchisee, a franchisor, or one aspiring to be, subscribe to the Franchise Secrets channel and visit www.FranchiseSecrets.com for even more tactical and practical tools to help you buy, grow, and sell franchises like an expert.
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