For me and Steve, franchisees aren’t numbers. Each franchisee is like family. That’s why people are leaving our competitors in droves to work with us. In fact, we recently had the COO of one of our biggest competitors call and say, “We’re not too concerned about you stealing our customers, we’re more worried about our people leaving us for you.”
Unlike our competitors, EventPrep’s unique business model means that the second a franchisee signs on, they start working and building something for themselves. And whether the franchisee puts in six years or 16 years, at the end of the day they have something that they’ve built, something that has actual value, and something they can sell to monetize their exit. They are building a nest egg. They have a retirement. And they have something to show for all the hard work.
But it also means Steve and I are right there beside them, helping those franchisees build it through initiatives such as the Quick Start Program.
Granted, every business owner wants to go out and get their own customers. But because of the success of our other business, Federal Conference, which plans and delivers 3,000 events a year, Steve and I realized we could take the fruit off the vine and allow our new franchisees to work with clients that are already established! This unique model creates immediate income for the franchisee while they build their own clientele, instead of having to wait six months to a year for a paycheck.
It is a true win-win model because our clients are being taken care of, and the franchisees are receiving real-time revenues while learning what it takes to run their business. If they went out and did it on their own, everything would be a matter of trial and error. They wouldn’t have any customers to immediately monetize. The fact is that there is a learning curve; their new business comes with new technology, new forms to fill out, and so they are getting to practice and learn how to build their business, all while earning money.
Steve and I also generate leads for our franchisees. We invest in advertising and help them build their business, which is something our competitors don’t do. What we created with EventPrep, in essence, is a culture built on relationships. It makes sense because Hotel Selection is a very relationship-driven industry.
Needless to say, culture is subjective. There’s no way to measure whether it’s good or bad. But from our perspective, it’s in the things your people say about you, unprompted and unedited, that defines a culture of success. And just like the old adage about being judged by those whose company you keep, the franchisees within our company reflect Steve and me.
We always want our franchisees to remember: it’s one thing to be in business for yourself, but it’s another to have support, so you don’t have to do everything by yourself.