Did You Make it to FBA Broker Mentoring This Week? Let's Recap

Written by Kourtney Kopp on March 29, 2024

Hey and happy Friday, FBA! Welcome again to our membership recap, where we review key takeaways from this week’s mentoring sessions to give you easy to digest insights from our community and teams.

This week, we covered a variety of topics across three main sessions:

1. Advanced Brokering: Content that makes you money
2. How to Sell These Brands, Season 2: How to Tackle Resales
3. Broker FUNdamentals: Handling the Due Diligence Process

No matter your experience, each session is designed to build on and enrich your skills as a Franchise Broker. We will get into session details in a moment. 

First, we want to extend a heartfelt THANK YOU to all our members who participated and showed up for this month's Membership Mixer. You can learn more about selected brands and network with us on the last Thursday of each month. Your engagement and contributions to these conversations strengthen our community and foster a culture of shared learning and growth.

And as we continue to look ahead, we have some exciting announcements planned for next week, such as March's Broker of the Month and updates to the Leaderboard. Please stay tuned and keep an eye on your emails for the latest FBA communications.

Now without further ado, let’s recap.

Advanced Brokering: Content That Makes You Money

FBA has been making significant strides in publishing dynamic content that not only informs but also actively engages audiences. As a result, our members are given a weekly opportunity to leverage this content for their own marketing efforts.

Have you engaged with our GOOD News content?

In this session, we dove deeper into the world of content creation, focusing on how to generate content that resonates with our target audience and drives revenue.

Key Insights from Advanced Brokering:

• Strategic Content Creation: We focused on series creation, such as "What to Expect from a Franchise Broker," to provide continuity in topic exploration and deepen audience engagement.
• Article Utilization: Detailed guidance was provided on how to strategically share these articles to establish credibility and trust with potential clients.
• Content Repurposing and Engagement: Insightful tips on repurposing content for LinkedIn posts, engaging with your network, and using tools like ChatGPT for inspiration were shared, simplifying the content creation process.
• Effective Engagement Strategies: Strategies for increasing visibility and maintaining relevance through LinkedIn posts, comments, and messages were highlighted.
• Calls to Action and Email Sequences: The importance of crafting compelling calls to action and leveraging quizzes for audience engagement was discussed. Additionally, we introduced the upcoming access to FBA Marketing Email sequences for BOS Brokers, which have been proven to convert, giving our members an invaluable tool for lead nurturing and conversion.

This session underscored the significant role of content in building authority, fostering trust, and facilitating successful Broker-Client relationships.

For full insights, please join us Monday at 12 PM EST: https://fbamembers.com/events/calendar/advanced-brokering/

How to Sell These Brands: Tackling Resales

This session, led by Doug Yntema, dove into the intricacies of handling franchise resales, offering Brokers valuable insights on identifying, evaluating, and negotiating resales effectively.

The aim was to empower Brokers with the knowledge to manage resales, ensuring they can provide their clients with accurate and valuable advice.

Key Takeaways on Resales:

• Valuation and Pricing: Understanding the true value of a resale is crucial. Brokers should focus on obtaining tax returns, profit and loss statements, and understanding add-backs such as depreciation, amortization, and owner benefits to accurately determine the seller's discretionary earnings (SDE). This approach helps in assessing if a resale is priced appropriately.
• Selling Price Guidelines: A fundamental rule highlighted is that the selling price should typically be 2 to 3 times the SDE. This guideline aids brokers in quickly assessing whether a resale is overpriced or within a reasonable range, facilitating more effective negotiations.
• Importance of Financial Transparency: The session underscored the challenge Brokers face due to the lack of detailed financial information on resales. Gaining access to comprehensive financial data from the franchisor is essential to evaluate the cash flow and compare it with others in the same brand, enhancing the Broker's ability to present the resale effectively to buyers.
• FBA’s Support Tools: The introduction of valuation tools and marketing packages by FBA was discussed as a significant advancement for Brokers. These tools are designed to streamline the evaluation process for resales, providing brokers with essential information like tax return insights, owner benefits, and an accurate depiction of the business’s financial health.
• Navigating Resale Listings: Doug also addressed the challenges of navigating resale listings, particularly the difficulty in getting detailed and reliable financial data from existing platforms.
• Collaboration and Commission Structure: The session touched upon the collaboration between Brokers and FBA in listing and selling resales, outlining the commission structure and how Brokers can leverage FBA’s resources for better outcomes.

This session was instrumental in highlighting the nuances of handling resales in the franchise space. Brokers were encouraged to leverage FBA’s tools and resources to enhance their capability in providing comprehensive resale services, ultimately benefiting both sellers and buyers in the franchise market.

Learn more about Resales at FBA, here.

For full insights, please join us Wednesday at 12 PM EST: https://fbamembers.com/events/calendar/how-to-sell-this-brand/

Upcoming Broker FUNdamentals: Handling the Due Diligence Process

Led by FBA Broker, Amanda Vargas (FBA's franchise trainer and a top producer), alongside a panel of guest experts, the next Broker FUNdamentals session promises to be an opportunity to sharpen your skills, particularly in the crucial phase of due diligence within the franchise acquisition process.

What to Expect:

• Expert Guidance: Amanda, with her extensive background in franchise sales and training, will guide participants through the intricacies of due diligence. Her insights, paired with contributions from guest experts, will provide a comprehensive overview of this critical phase.
• Focus on Deal Support: A significant highlight of this session will be its emphasis on providing Brokers with practical deal support. From navigating financial reviews to understanding legal documentation, the goal is to arm Brokers with the tools and knowledge necessary to guide clients confidently through the due diligence process.
• Real-World Application: Learning from both successes and pitfalls experienced by others in the industry will prepare Brokers to better identify potential issues and advocate effectively for their clients.
• Sales Process Mastery: This session is not only for understanding due diligence but to further integrate this knowledge into the broader sales process. Brokers will learn strategies to facilitate informed decision-making by their clients, ultimately enhancing trust and transparency in the relationship.

To get the full insight, please join us Fridays at 2 PM EST: https://fbamembers.com/events/calendar/brokering-fundamentals/

Tune in for Next Week’s GOOD News

Our weekly mentoring sessions represent a core component of our commitment to excellence and continuous learning at FBA.

It's noteworthy that many of our top producers not only attend these sessions regularly but also actively contribute, sharing valuable insights and experiences. This mutual exchange of knowledge not only enriches the learning experience for all participants but also underscores the collective growth mindset that sets our network apart.

We wholeheartedly encourage every Broker, regardless of their level of experience, to join these sessions. It's an opportunity to learn from the best, share your challenges and successes, and gain new perspectives that can significantly impact your practice. 

Once again, thank you to all who make it each week—we can’t wait to see you next time!

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