Can treating your business like a franchise still be beneficial even if you don’t want to franchise? Bertus Albertse is the President of Jabz Boxing, and founded a fitness franchise in 2013 that has since expanded to 7 international territories. Bertus has been a leader in the health & fitness industry for over 14 years, and joins Joe Frost on this week’s episode of The Fractional C-Suite Retreat. Bertus and Joe discuss the ways that any business can gain insight from the franchise model, how to monetize your trademark, and how to set up your franchise framework.
Takeaways
- Franchising gives you the opportunity to turn your intangible assets like intellectual property into a revenue stream.
- While selling a franchise and selling a playbook with your business strategy may seem similar in theory. A franchise lets you retain ownership over the process.
- Franchising is all about packaging an idea and identity into a revenue strategy.
- Establishing a good service interface helps your franchise. The tools used, ingredients used, and product offered are easily replicable, but the way you serve customers isn’t.
- When thinking about franchising and how to help someone do what you do, you help yourself by developing a system on what you do every day and why you are successful.
- When starting a franchise, go in expecting the worst. It will be tough, but worth the challenge.
- When considering franchising, ask yourself “Do I feel strongly that other people could succeed at using my formula”?
Quote of the Show:
Clarity comes from action. Clarity doesn’t come from thinking. – Bertus Albertse
Links
Joseph Frost, Co-Founder of yorCMO, hosts this weekly retreat for executives to unwind and hear from their peers about new opportunities and innovations in the C-Suite. Subscribe