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CATEGORIES: Business, Franchising
What defines responsible franchising, and how can transparency strengthen franchise success? In this insightful episode, Erik Van Horn and guest Joe Mathews of Franchise Performance Group explore the critical dynamics between franchisors and franchisees, focusing on the value of ethical business practices and transparent operations.
Joe discusses the role of private equity in franchising, the importance of full disclosure in franchise fees, and how responsible franchising can drive brand loyalty and profitability. Tune in to learn about setting clear expectations, the “social contract” between franchisors and franchisees, and how transparency impacts long-term success.
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If you want more information about responsible franchising, you can get The Ultimate Guide to Responsible Franchising by Joe Mathews
“Why does a franchisor exist? At FPG, what we espouse is that a franchisor exists for the sole reason of adding value to a franchisee's investment." ~ Joe Mathews
In This Episode:
- Why Joe wrote his new book
- Private equity and high-value transactions in franchising
- Key elements of responsible vs. irresponsible franchising
- Transparency in franchise fees and the importance of value
- Strategies for helping franchisees achieve profitability
- Challenges in franchise validation
- Supporting franchisee profitability through P&L reviews
- Monitoring KPIs for franchise growth
- Hiring practices for franchise success
- Leadership and culture in franchising
- Institutional knowledge vs. franchising expertise in leadership
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/
🌐 The Ultimate Guide to Responsible Franchising by Joe Mathews
Connect with Joe Mathews:
🌐 Website
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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