Franchisee Success

Elizabeth Gillam-Franchisee

Success

8 Years as a Boostie…..

#silverfox @lizzymaygillam

Love the Brand

• The Music

• The Bright Lights

• The Noise

• The Boostie singing and dancing while making my drink

• You are a reflection of the brand

Love the Brand

Love your Team

• 80% of your problems come from 20% of your staff• Be firm but fair• You are responsible for establishing the culture in your store• Give respect to earn respect

My secrets• 3 strikes and you’re out!• Do jobs better than any one of your staff• Work in store• Always be “UP” when working in store• Avoid being a seagull• Get rid of some staff• Have Team Meetings

Know your business• Have a business plan

• What turnover can I achieve?• What am I going to do to increase sales• How am I going to improve profitability• Can I increase customer loyalty• Do I have the right staff• Staffing – How do I communicate with them and how do I reward

them• What are my goals and missions?

• Know your KPI’s (key performance indicators)• Labour• Sales per labour hour (s/lh)• Average Transaction Value (ATV)• Cost of Goods Sold (COGS)

• Rosters

Wellbeing

Technology

• Factory in your hand!!!• Google Account• Sync your contacts, calendar and your

emails• Apps!!!!!

Love your FBC

Why does Franchising work for me• Marketing• Product development• The menu and pricing is refreshed yearly for me• Products are sourced for me at the best price to

ensure that I am making the best profit I can• Shopfits are designed for me and are within

current trends• Leasing is negotiated down to industry best• Conferences

Newbies – this is for you!!!

• Work out your KPI’s and monitor them daily• Empower your employees• Use professionals with Franchise experience –

Lawyer, Accountant and Bookkeeper• Schedule everything• Take a proper holiday and leave the team to it!• Body text to go here over these lines

Old Dogs – I should share these tips• Plan to exit the system• Full Lease• New Shopfit• 3 years of financial records prepared• Be aware of selling costs both broker and

franchisor• Have money to payout your suppliers etc on day

of settlement

Where to from here• Mentoring• Website – www.elizabethgillam.com

And the book….