Franchisees Should Learn From Each Other

If you own a franchise you should be in contact with your nearest franchisees and share information as if you were the manager of a corporate store. You should set up meetings once or twice per month and have their phone numbers logged into your speed dial for easy reference.

You should learn from the experiences of your fellow franchisees. For example, let's say you found out your next-door franchisee neighbor as a certain type of customer and you are starting to see a few of these types of customers come into your store. You decide you would like to see more of them as their average ticket prices are better than your current average customers. You, of course, will want to learn all you can from your neighboring franchisee and what they have done to target this market segment. It's really nice to know you can pick up the phone and call a friend who has answers to these types of questions you might have on a regular basis. They can help you by:

Allowing you to work with them in their store for a half of day

Introducing you to certain types of customers to help you understand their needs

Explain idiosyncrasies in serving different market segments

Dealing with these different customers and their fears

Learning how to best service these new customers and understanding their buying behaviors.

This works well. Your regional director can also help you but he/she may be learning as they go just like you. As a franchisee you have a team to plug into, it is a system, the system is dynamic and you can learn from it to help you become more efficient and profitable. You should call your Regional Directors as well as your local franchisees, because two minds are better than one. We know you can figure it out, but it sure helps to have the extra support. Maximize the team synergies of your franchise system, stay plugged into the strength of numbers and economies of scale. Think on this.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs

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Google News Updated : Tue, 07 Oct 2008 20:50:00 GMT Thai Army Sends Troops to Help Police Keep Peace - Washington Post Voice of America Thai Army Sends Troops to Help Police Keep Peace Washington Post - 4 hours ago Thailand's military agreed Tuesday to deploy hundreds of unarmed soldiers to the streets of Bangkok to help police restore order after violent clashes between police and protesters that left at least 1 person dead. Video: Raw Video: Tear Gas Fired at Thai Protestors AssociatedPress Troops deployed as one dead, hundreds hurt in Thai protests AFP Reuters UK - Hindu - eTaiwan News - The Standard all 1,327 news articles Publ.Date : Tue, 07 Oct 2008 16:12:03 GMT Qantas Involved in Another Air Incident - New York Times NEWS.com.au Qantas Involved in Another Air Incident New York Times - 25 minutes ago By Liz Robbins It has been 20 years since Dustin Hoffman’s character Raymond Babbitt in “Rain Man” made Qantas synonymous with air safety, claiming he would only fly the Australian airline because it had never crashed. Qantas passengers arrive in Perth after mid-air ordeal ABC Online Fifteen badly hurt as Qantas jet drops Sydney Morning Herald The Standard - Taipei Times - United Press International - NEWS.com.au all 366 news articles Publ.Date : Tue, 07 Oct 2008 20:24:06 GMT Bernanke hints at possible interest rate cut - MarketWatch The Associated Press Bernanke hints at possible interest rate cut MarketWatch - 31 minutes ago By Greg Robb, MarketWatch WASHINGTON (MarketWatch) - Federal Reserve Chairman Ben Bernanke opened the door on Tuesday for a possible interest rate cut to help rescue the economy from a severe downturn, admitting that the global panic in the financial ... Video: Bernanke signals possible rate cut ReutersVideo Bernanke: Economic outlook weaker CNNMoney.com New York Times - Forbes - Reuters - MSN Money all 988 news articles Publ.Date : Tue, 07 Oct 2008 20:18:10 GMT Wells Fargo may get lion's share of Wachovia deposits: report - MarketWatch Sify Wells Fargo may get lion's share of Wachovia deposits: report MarketWatch - 32 minutes ago By John Spence, MarketWatch BOSTON (MarketWatch) -- Wells Fargo & Co. may get as much as 80% of Wachovia Corp.'s deposits, with the remainder likely going to Citigroup Inc., according to a published report Tuesday. Citi, Wachovia, Wells temporarily halt litigation Bizjournals.com Wachovia shares waver as Citi, Wells Fargo wrangle Forbes BloggingStocks - Washington Post - New York Times - CNNMoney.com all 7,781 news articles Publ.Date : Tue, 07 Oct 2008 20:17:51 GMT Cough, Cold Drugs Not for Kids Under 4 - WebMD CBS News Cough, Cold Drugs Not for Kids Under 4 WebMD - 2 hours ago By Miranda Hitti Oct. 7, 2008 -- Don't use over-the-counter pediatric cough and cold drugs in kids younger than 4. Leading makers of over-the-counter pediatric cough and cold drugs are putting that message on the products' labels, according to the ... Cold, Cough Medicines for Children Get Added Warnings (Update3) Bloomberg Drug Companies Say No Cold Meds for Kids Under 4 Washington Post Chicago Tribune - New York Times - Bizjournals.com - The Associated Press all 1,485 news articles Publ.Date : Tue, 07 Oct 2008 18:48:20 GMT Sleuth's Presidential Debate Watch Game - Washington Post Sleuth's Presidential Debate Watch Game Washington Post - 41 minutes ago Tonight's debate watch games probably won't be as much fun as last week's Palin Bingo. But don't fret, there are still games to be played during this second presidential debate between John McCain and Barack Obama. 'Aggressive' debate expected between McCain, Obama CNN * McCain looks for way to stop Obama's momentum Reuters The Associated Press - MSNBC - U.S. News & World Report - TIME all 1,199 news articles Publ.Date : Tue, 07 Oct 2008 20:08:21 GMT AIG's ex-CEOs blamed for crisis - CNNMoney.com Los Angeles Times AIG's ex-CEOs blamed for crisis CNNMoney.com - 1 hour ago House panel chairman says executives got undeserved riches, while ex-CEOs blame accounting rules and market conditions for leading to $85B bailout. Joe Cassano: The Man Who Brought Down AIG? Washington Post AIG CEOs Blame Each Other, Accounting for Insurer's Downfall Bloomberg Wall Street Journal - Financial Times - New York Times - Forbes all 768 news articles Publ.Date : Tue, 07 Oct 2008 19:11:18 GMT RSS Feed Reader Increase Website Traffic

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