New Software-Based Franchise "Matching" Tool Is A Bunch Of Marketing Hooey

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(Here's the true value of hooey)


I'm adding this to my "Top 10 Reasons I Left F_ _ _ _ _t."

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I left a national franchise brokering franchise almost 3 years ago, for many reasons. Some I may even go into, sometime in the future.

I'm really happy about my decision. Especially after seeing what they've just come up with.

This one's is a doozy.

I'm certainly not very passive when it comes to my opinion of the sheer number of franchise brokers out there now. In 2008, I wrote;

"The past two years have seen at least 10 new franchise brokerage groups
entering an already crowded market. There are franchise
consultants-brokers everywhere. It is consolidation time. When would you
like to enter a market?"

I continued with this rant;

"A lot of the people that these franchise brokerage groups are soliciting
are successful, but downsized corporate executives. Some of
these folks have been out of work for 6-9 months, and are at the end of
their severance packages. Opportunities that they would not have
even considered a month or two ago, are all of a sudden intriguing.
"Opportunities"

A little bit more;

"Promises of a six figure income are bandied about, along with super
flexible hours, low overhead, and a way to make a difference in people's
lives. If you are lucky enough to get enough fresh air to let the
effects of the ether wear out, you may want to read about some wonderful
things that have happened {and still do} in the franchise
consulting-brokerage industry. Things that have happened to others-just
like you!"

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Yesterday, there was a press release that was distributed, announcing (in an obvious marketing ploy) that this franchise brokerage has come out with a "Franchise Matching Tool" that's based on some cool software. (And some amazingly complicated algorithms, I'm sure) For that personal touch.

If I could only be a fly on the wall for one of these new franchise "consultations."

Ok. I'm a fly.

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Franchise broker: "Well, here's the printout of your score, using our "Ultimate, Amazing, Super-Laser, Franchise Matching Tool. If you'll just put on these 3-D glasses, you'll clearly see that your personality profile is a B877Z-TR."

Sucker: "Yes, Jack, I see that. But you know, I am little worried. I took that profile of yours on a Monday. Mondays' are not good days for me."

Franchise broker: "No worries. Our tool compensates for days of the week, lunar cycles, and even mild tremors felt in Indonesia. Your profile says that you should probably own a "coaching" franchise."

Sucker: "Like a sports thing? I'm not very good at dribbling."

Dribble. Dribble. Dribble…..

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In this case, (franchise brokering-consulting) software is not the answer. It's a bunch of hooey.

The way to match prospective franchise owners with franchise opportunities that may make sense for them, is to do some basic personality profiling, in combination with a basic financial risk assessment, and finding out what their goals are.

(Along with some other things. Contact me to find out more)

When I work with prospective franchise owners, I have them describe some of their strengths and weaknesses. I ask them specific questions that help me determine what they're comfortable doing in a business environment, and what they're just not comfortable doing. I also find out what they "see' themselves doing in their role as a small business owner. There's more involved in the process, but franchise brokers-consultant like myself don't need a software-based tool to do this right.

It's about forging a deep, personal connection with the person you're working with. That's not very different than any other business, right?

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K.I.S.S.

(Keep It Simple Stupid)

I used a "coaching" franchise in my hypothetical example above.

You have read my take on coaching franchises, right? Read

Rock on.

Filed Under: Coaching Franchises, Franchise Advisor, Franchise Technology
About The Franchise King®

My name is Joel Libava, and I'm the author of Become a Franchise Owner! In addition, I'm a franchise ownership advisor. I teach people how to properly choose, research, and buy franchises.

  • Rebecca Monet

    Joel – you have become an excellent writer both funny and witty. However, it appears you have forgotten to do your research regarding Proven Match the assessment tool you slam on this post.
    I’ve known you many years and your father Jerry Libava a wise, honest and kind man I called ‘friend’. Your Dad helped build the very franchise brokerage firm you slam.
    I read many of your posts where you regularly encourage your readers, clients and prospective franchisees to do their due diligence before buying a franchise. Smart advice! You are to be commended for you focus on educating and empowering your clients be teaching them how to do effective due diligence.
    Now I would encourage you to do the same – research and do your due diligence. Don’t let your emotion outweigh logic … the same advice you would give your clients is good medicine for yourself.
    The assessment tool is a science-based personality, values and behavioral assessment. If you would like more information I recommend studying the VALS system from Stanford Research Institute Business Intelligence, Neurolinguistic Meta Programs, Dr. Clare Grave’s work on values evolution and Emotional and Social Intelligence and the direct impact social intelligence has on success, money and happiness.
    May God continue to bless you and you others!

  • http://profile.typepad.com/franpro The Franchise King

    Rebecca,
    Thank you for stopping by to read the post.
    A couple of points;
    1. My late father was a wise, honest, and kind man. He was very well liked. He also knew the real deal about the organization, especially after his years of being an active member.
    A. He did help build the organization, a bit. But, he, along with several others, built it for Howard Bassuk, the President. Everybody there knows it. I just chose not to be another cog in the wheel, anymore.
    2. The assessment tool you’re speaking of. Did you develop it? It may be a pretty good “tool.” But in the end, it doesn’t really matter what you or I think of it. Does the prospective franchise owner really care about it? I stand behind my statement; it’s a bunch of marketing hooey.
    3. I can read reports and research papers about Neurolinguistics and Social Intelligence for weeks, I’m sure. Part of the training I received from Bassuk included those things, and in general, they work pretty well in determining personality types and other pertinent information. However..and I am not sure if you really want to go here; franchise owners that your brokerage offices (including mine, when I was a franchisee of your group) still failed. They are not in business anymore. Which is why I go back to real human interaction being really important. It’s way more important than a software tool that may be pretty good, but does not guarantee a franchisee’s success any more than anything else.
    It’s not about the science, Rebecca.
    The Franchise King®