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Commonwealth Bank Economic Update

Rod Nuttall, National Executive Manager, Franchising.

Rod believes Australia’s economic fundamentals are sound despite the downturn. In other words there may be gloom but not necessarily doom. He also warned against being overly influenced by the media’s intense focus on the negative aspects of the downturn (he pointed out the word Recession had been mentioned 2,500 times in recent media reports).

Rod’s tips for franchisees:

Rod also believes that now is the time for franchisors to review the fundamentals of their business profitability model to ensure it’s working for all parties.

Snap-On Tools Case Study

Brad Watts, Multi-Unit Franchisee.

Brad is Snap-on Tools highest performing franchisee, out of 6000 franchisees globally!

Brad’s tips:

Wendy’s Case Study

Ian Gallagher, Customer Service Manager.

Ian started his franchising career as a franchisee with Wendy’s and later pioneered a new mentoring concept with his fellow franchisees to drive double digit sales through “back to basics” hands on customer service training.

Ian says marketing campaigns are like sending out invitations for a big party at your home. If people turn up and you don’t have food, drinks and music they’re not going to come back to another one of your parties! In other words if the marketing department makes a big fuss about how great your product or service is but there is no ‘party’ behind the counter, customers are going to get an ordinary experience — a waste of marketing funds.

Ian’s tips:

Poolwerx Case Study

Lyn Wicks, Business Development Manager.

Although PoolWerx is in a largely male dominated industry, Lyn helped to transform the female partners of franchisees from administrators into sales champions by training them in sales essentials.

Lyn’s tips for franchisees:

The Psychology of Mobilising a Team Under Pressure

Graham Clinch, Corporate Psychologist.

Graham has worked in the military helping leaders to debrief their teams after battle.

He believes that after each significant business ‘battle’ the whole group should get together to regroup and debrief. Regrouping involves reviewing what has happened, what resources have been depleted and deciding the next steps for moving forward.

Debriefing is about building a sense of team and togetherness, regardless of the outcome.

Graham’s tips for a good debrief:

The Psychology of Improving Your Performance

Associate Professor Stephanie Hanrahan, University of Queensland.

Stephanie is a sports psychologist who works with elite athletes.

Stephanie’s tips:

The Psychology of Helping People Under Pressure

Isla Gillespie, Lifestyle Psychologist.

Isla reminded us that one in five people at any time will be suffering from a mental health issue. This is important to remember when you’re trying to motivate people and wonder why they can’t pick themselves up and get their act together.

Isla’s tips:

The Psychology of Running Franchise Meetings in Tough Times

Greg Nathan, Managing Director, Franchise Relationships Institute.

Greg has specialised in the psychology of the franchise relationship for almost 20 years. He says that in tough times franchisors need to create an environment for constructive meetings with their franchisees.

Greg’s tips for franchisors:

Building Credibility in Tough Times

Steve Holihan, Marketing Manager, Pack & Send and Teresa Conradie, Marketing Manager, Mr Rental.

Steve and Teresa’s insights into involving franchisees in the marketing function:

Driving Sales in Tough Times

John Lees, Consultant and Author of 11 books specialising in sales and marketing.

John uses an analogy of a franchise system as a racing car.

The franchisor has to make sure the car (the franchise model) gets better every year. It has to provide a support crew, and it has to teach franchisees to be excellent drivers.

To be excellent drivers franchisees have to: