Podcast episode · The Franchise Coach Podcast (ActionCOACH) · August 20, 2024
Rob Lancit’s Top Strategies for Franchise Success: Unlocking Growth and Profitable Business Models
A prospective franchisee who wants to hear how a development executive screens candidates.
In short
A 25-minute conversation with a host who has known Rob Lancit for about 25 years. Asked what a franchisee needs, Rob gives three things: the ability to work hard, full commitment, and the ability to follow a system. His example is that nobody buys a burger franchise in order to sell hot dogs from the drive-through. A franchise buyer, he says, is buying the franchisor’s mistakes, already paid for.
He objects to the phrase responsible franchising. To him it labels something that should be assumed, which is keeping your word and doing right by the other person, and he is wary of brands that advertise it loudly. He agrees with the host’s line that franchises are awarded, not sold.
He explains the Stratus model: corporate offers only master franchises. A master sells unit franchises and wins commercial cleaning contracts, and the unit franchisees do the cleaning. He calls it an executive, weekday business with nine revenue streams. He counts 75 masters and more than 4,000 unit franchisees at the time, with plans to enter English-speaking countries in 2025.
He says he would not personally place anyone in a food concept, having watched a family member work in that industry. The first question he gets is how much money can I make, and he would prefer to be asked about the model and the competition first. He calls his process a mutual investigation: a candidate who will not follow his steps is unlikely to follow a system later. He also praises how openly Stratus masters share what works.
The original
Where this comes from.
- Format
- Podcast episode
- Published by
- The Franchise Coach Podcast (ActionCOACH)
- Date
- August 20, 2024
- Best for
- A prospective franchisee who wants to hear how a development executive screens candidates.
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