This Week In Review - How To Stories
This week, the Franchise-Info community was largely interested in How To stories.
1. How to invite contacts to LinkedIn one at a time, not get tricked into spamming your list of contacts & avoid getting on the dreaded LinkedIn IDK restriction list.
2. (a) How to get franchise sales by getting rid of your Discovery Day.
2. (b) How franchise prospects should see if the current franchise owners validate the system as a whole.
3. How to give your franchise prospects enough time to read the FDD.
Most Popular Social Media Story
2301 LinkedIn Views
Michael Webster's How To Invite a Single Contact to Join LinkedIn & Connect With You was the most popular social media story.
LinkedIn is run by two deparments. One department wants you to give LI all your email contacts. The other department wants to penalize you for being a spammer and restricted your account.
Good back and forth on the LinkedIn thread, with a number of people chiming in about LinkedIn's tricky ways.
Most Popular Franchise Sales Story (Tie)
1862 & 1860 LinkedIn Views
Joe Caruso's Get Rid of Your "Discovery Day" & Sell More Franchises
challenged franchisors to really think about their sales process.
Stop calling it "Discovery Day" if there is nothing left to discover.
The 1980's are over. Franchisors need to abandon legacy thinking if they want to remain competitive.
Peter Lindsey's Don't Overlook this Method for Evaluating the Quality of Your Franchisor Support was almost as popular as Joe's article.
Peter was showing prosepctive franchises how to use the Item 20 in the FDD to evaluate Franchisor Support.
If turnover was high, it probably meant that the existing franchisees would not validate the system. Good tip.
Most Popular Franchise Legal Story
1499 Linked Views
Warren Lewis's Minimum Disclosure Timing discussed the minimal time frame necessary for a prospect to have an FDD if the sale was legal. There are some tricky state laws to navigate around.
The online discussion was about whether this was enough time for franchise prospects to properly understand the agreement and the significance of the disclosures.
This is ongoing discussion - with some favoring giving the prospect plenty of time to review the document and others fearing that all this information will slow down the deal.
