In our previous article, we discussed how Alexander Hildenbrandt from Stonework Franchising recently sold a million dollar multi-unit deal with just $100 using targeted Facebook advertising and a creatively crafted sales pipeline. In that article, we discuss some targeting strategies that Alex employed in order to attract a specific candidate that is financially qualified and motivated to become an entrepreneur.
Alex told me that he felt that because he was educating his client along the way when he came in, he came in hot! His candidate had worked with other brokers but didn’t find the value with them. “The kept presenting him with concepts that didn’t make sense. I don’t think they took the time to question him or just had poor communication skills.”
“I spoke for a bit about who I was and explained what I do for my clients. We then went into his goals and set a lunch appointment. I met him and his wife and established a good rapport. We didn’t not much in common but able to relate solutions to what he was looking to accomplish. Ultimately, he wanted to be in business for himself in a business that he could enjoy.”
“He had been a CPA with his wife for many years, but in speaking with him felt that he really just didn’t enjoy it! After digging a little further I found he had an affinity for baking with his kids at home. I did some research and took him through a few different options. One that stood out to me was a concept called Cinnaholic. It has a very high growth rate and had a lot of very happy franchisees that all validate well. The current owner of the company was the same guy who was running Moe’s and has a lot of experience and knows what he is doing.”
About the Franchise Concept Cinnaholic
Cinnaholic was originally launched by a vegan couple on blogs and social media marketing. It was doing well and the couple took the concept to the show Shark Tank. This captured the attention from a lot of people and they sold majority ownership.
“Their products fit the gluten-free niche which does really great around colleges where my client lives. They market a lot on social media, which is self-perpetuating, and can yield incredible results. The store operates out of a small box of only 900 to 1200 sq. ft. so the economics are good with the cost of goods.”
“The more my client dug into the concept the more he liked it. We stopped looking into the other concepts and kept going through the process. To help my client with his decision I dug up several reports from IBIS and a few other industry reports and analyzed the numbers, industry overviews, broke things down for him. He did some exploration on his own and visited an existing store while on a trip.”
“The developer invited him out to a discovery day in Atlanta and they ended up really hitting it off. This sealed the deal. He purchased 3 units initially, but also negotiated exclusivity rights to Jacksonville and St. Johns County.”
In his own words to Alex his client said “Indeed it was such a pleasure to have known you and worked with me in the selection process of a myriad of franchise businesses. It was comforting that you have the knowledge and professionalism as well as the patience to lay out the options available out there. By no account did I feel being pressured nor being inadequately informed by you. I am very happy with the decision I have made.”