Authors:  Joe Mathews, Don DeBolt, Deb Percival

ISBN: 1599180219

The following interview was conducted by: Manuela Pop,  To read Manuela's reviews CLICK HERE

To read Manuela's review of Street Smart Franchising CLICKHERE

Manuela:

What is a franchise and please explain the benefits of owning one? Tell us about what you do to help franchisors and franchisees in your business.

Joe:

I help franchisors maximize their royalty collections by helping them recruit, develop and train peak performing franchisees.

Manuela:

Why did you decide to write Street Smart Franchising?

Joe:

In my opinion there were a lot of misperceptions and misinformation floating around about franchising.  I tried to capture the backroom and sidebar conversations franchise experts have about what does and does not work in franchising.  I wanted to bring those conversations forward to the benefit of those considering franchising.

Manuela:

What makes your book different from other franchising books?

Joe:

We take into account of how both franchisees and franchisors behavior and emotions impact each other. We are the first book I know of which talks about franchising as a business unto itself. For instance, a company can be a great retailer or restaurant chain and still be an incompetent franchisor. We discuss the telltale signs of what competency and incompetence looks like in franchising.

Manuela:

In your book you talk about the KASH model of success, what is it exactly?

Joe:

We use KASH to distinguish the winning formula of any business. K= Knowledge, A=Attitude, S= Skills, and H= Habits. As long as you know what you need to know, have the mindset of a winner, are good at what you need to be good at, and invest your time on the high priority activities which produce the greatest results, you win.

Manuela:

What is the franchisee learning curve and why is that important?

Joe:

Most people who start businesses have had some success in the past. Many don't remember what it is like to go all the way back to the beginning...all the way back to incompetence. Yet this is what happens in franchising. Franchisees invest in the right to be incompetent for a short period of time and learn a new business model from the ground up. Many adults simply forget how to learn.

Manuela:

What behavior style is the most successful at running a franchise?

Joe:

I am not sure there are more successful styles than others. However some franchisors are more set up to train and support one or more styles than others. In the book we discuss four styles one is The Action Hero, who is a visionary, authoritarian personality who knows how to make things happen. Many franchisors are set up to support them and they are the most entrepreneurial of the 4 styles. The second is the Comedian, who is an outgoing, charismatic, and influential person. Again, a highly entrepreneurial style and many franchisors can support them properly. The other two styles, (Faithful Sidekick and Private Eye) are more introverted, systematic, risk averse, and possess much fear. Many franchisors can't give them the necessary emotional support and high direction they need to win.

Manuela:

What is the best piece of advice you can give someone who wants to own a franchise?  

Joe:

Know what you are particularly good at and use it to succeed.  The right franchise for you is one which plays to your strengths and delivers your desired results with a high degree of probability.

Manuela:

What are the benefits of buying a franchise versus starting your own company from scratch?  

Joe:

Purchasing a franchise is easier because they should have a system already in place.  It's nice to join a high performance team and network.

Manuela:

What are some of the most difficult challenges prospective franchisees should expect to face when setting up a franchise?

Joe:

Starting a business requires much more time and energy and is more emotionally trying than anyone expects going into it.  Get your rest, eat right, and exercise. Have someone in your life that can pick you up when you are down.

Manuela:

How do you go about investing in a franchise, if you decide you don’t actually want to run one?  

Joe:

Go to a franchise opportunity website and explore your options. You can find 200 advertisers or more on these sites.

Manuela

What do you feel is the most important thing for readers to learn from your book?  

Joe:

Most people who enter franchising win. However, 99% of the people who look into franchising opt out.  Most people quit before they give franchising a try.

Manuela:

Do you have plans to write any more books?  

Joe:

I have written two books (Meaning of Life Project and Street Smart Franchising). I have felt called to do both. If God calls, I will write a third. If not, I won't.

Manuela:

Where can people buy your book?

Joe:

Barnes and Noble, Borders, and Amazon.com

Manuela:

Do you have anything you would like to add?  

Joe:

You have one life. This is it.  So take the bat off your shoulder and start swinging.

 Thanks Joe for participating in our interview

Joe Mathews graduated with a Bachelor of Science in Marketing. Since then, he has garnered a vast variety of experience working as a franchise manager for Subway, Blimpie, Motophoto, and Entrepreneur Source. In 2002, Mathews founded the Franchise Performance Group and became a consultant and business coach to entrepreneurs, helping others manage a successful franchise.  Mathews’ new release is Street Smart Franchising (Entrepreneur Press, July 2006).  For more information: www.streetsmartfranchising.com