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Business owners have a higher tolerance for risk than most employees because they know that’s how profits are made. Not all business owners have the same tolerance. For people looking to reduce the risks associated with owning a business, franchise ownership may be a good fit. Franchising offers a proven business model, support, and financial disclosures to help you assess a business’ viability before making an investment. Seth Lederman, Founder and CEO of Frannexus has helped hundreds of aspiring entrepreneurs. “Over the years, it’s been my privilege to match people who are ready to make a career change or diversify investments with a franchise business that achieves their financial and lifestyle goals.”
Seth started his career as a health care provider, going room to room, treating patients. He realized that his greatest passion and desire was to build the business and not in providing treatment. He worked more like a technician than a business owner, which was no longer exciting for him. It was then he discovered a book that changed his life and his relationship to work. Michael Gerber’s underground bestseller, “The E-Myth Revisited,” talked about franchising principles, like the importance of providing predictable, consistent, and reproducible experiences for your business and your customers. Seth deployed the book’s principles, and his practice grew by 300% in just thirty-six months.
Inevitably colleagues and vendors started reaching out to find out the secret to his success. Seth began sharing the principles he learned in the book and discovered he enjoyed working with entrepreneurs. After having the opportunity to train with Michael formally, Seth started working with all types of businesses, including franchisors. These were great brands! He was asked to meet with their failing franchise owners to understand why they were struggling.
Seth would travel to their locations and meet smart, savvy, well-accomplished entrepreneurs. For a while, he couldn’t understand where the mismatch was. A great franchise brand, plus a great owner, should result in success, but it wasn’t adding up. They didn’t follow a formalized, methodical approach to select the right franchise for themselves and the franchise brands weren’t any better at finding the right franchisees. It was clear that there’s a great unfulfilled need for impartial experts to help franchise buyers find the right franchise opportunity. This is how Seth’s journey to CEO of Frannexus, one of the leading franchise consultancies, began.
Founded in 2013, Frannexus is a leading franchise consultancy, helping hundreds of people get into business for themselves. The success of the company comes down to its proven matching process and unique approach to evaluating franchises. The company has streamlined the complicated and time-consuming process of finding the right franchise. Its consultative approach focuses on understanding the clients’ experience, skills, dreams, lifestyle, and financial goals. From this base of understanding, Frannexus surprises and delights clients with franchise ownership opportunities that they wouldn’t have considered independently.
Depth of knowledge and experience is crucial for selecting the right franchise business. The best franchise consultants know what questions to ask and how to get the answers when evaluating franchises across multiple business models and industry sectors. Maintaining its position as a leading franchise consultancy comes down to how the company looks at its work and innovation. Seth says, “Our job is not to sell franchises. We open people’s eyes to franchise ownership possibilities while providing the tools to make smart decisions faster. Whether our clients move forward with a franchise opportunity or not, by the end of our process, they know what they need to make the right decision.” The future for Frannexus is growth. At a time of great uncertainty, the American dream of business ownership is alive and well. Seth and his team see a continued demand by entrepreneurs to leave their careers behind and go into business for themselves.
Frannexus uses a streamlined approach to finding the right franchise business out of the 3,600 available opportunities. Simplifying a complex and convoluted process saves the clients’ time and, in the long run, adds value to their investment. The company not only matches entrepreneurs on the typical variables like interests, experience, location, and investment level, but they use psychographic assessment tools to identify the company culture where a prospective franchisee is most likely to find success and satisfaction.
Buying a franchise is one of the most significant decisions a person can make. As franchise advisors, it’s Frannexus’ job to guide them towards making the best possible decision for their lifestyle and financial goals. The company takes that responsibility seriously and utilizes a hands-on discovery and search process to ensure success.
Success to the team at Frannexus doesn’t mean closing a franchise deal. At Frannexus, success is helping their clients make an informed decision, even if that means deciding that franchise ownership isn’t for them.
To provide the level and quality of service franchise buyers deserve, Frannexus worked with a user experience designer who introduced new ways of looking at and solving the challenges with the user experience and sales pipeline.
One of their recent projects was to develop a virtual franchise search assistant, Franbot. Franbot uses AI to personalize and engage people early on in their journey in franchising, providing the information and education they want. Deployed immediately, Franbot allows prospective franchise buyers to learn about franchise ownership at their own pace and schedule a consultation with Seth or one of the advisors when they are ready.
Franbot assists prospects in self-qualification. People who are casually exploring their options, aren’t ready to make a move, or don’t meet the financial requirements for franchise ownership, are provided information and resources to encourage their continued exploration when the time is right. The Frannexus team can focus its time and energy on the people with a serious interest in exploring franchise ownership.
The team at Frannexus meets weekly to review business metrics and client progress. Having everyone on the same page and using data as the guide enables the company to make small changes regularly, constantly improving the processes, performance, and experience. There’s a quarterly in-person meeting to review the progress over the past three months and plan for the quarter ahead. By stepping out of the weeds and using data, the Frannexus team can make better decisions that set them up for continued success.
Frannexus is focused on innovation. The company has invested more time to perfect the franchise search process and the experience for its clients than it has in promoting itself. When clients are happy and able to get through a cumbersome, time-consuming process faster and with better results, the business grows itself.
Although Seth is willing to work harder than anyone else, he prefers to work smarter. When he reached the limitations of the franchise industry, he turned outside of franchising to re-engineer best practices from other industries. The team has figured out how to get results unheard of in the industry through trial and error, which is great for business and even better for Frannexus clients. The future looks like limitless success for Frannexus and the entrepreneurs it serves! The team is working on innovations to enhance the franchise search experience even more. Frannexus clients can expect to be surprised and delighted at the innovative solutions from the Frannexus team in 2022.
