One of the most difficult types of companies to run has to be a franchise system, a group of small businesses each covering their territory and extending the brand name throughout. Easier said than done, yet every once in a while a superstar comes along and shows us what’s possible. I’d like to introduce you to someone like that and recommend you read his book;
“Lead The Category! The Secrets of Franchising and Business Success“ by Stan Berenbaum (Chief Executive Officer of American Leak Detectors, based in Palm Springs, CA); 2009
This is a very good book with lots of insight, it’s a quick read of only 120 pages and it has 95 chapters, and reminded me of the book “Zag” an excellent format for the fast paced Internet World. Packed with wisdom for the entrepreneur and perfect for Franchise Executives, Franchisees and anyone who truly wants to kick butt and dominate their sector.
The author is a unique success story in his own right, as he was formerly the in-house council and worked in the legal department for one of the great franchisors; Little Caesar’s Pizza. And Stan Berenbaum tells us that his mentor was indeed the Founder of Little Caesar’s Pizza, Mr. Michael Ilitch, who is all but a household name in Michigan.
Normally, I do not recommend Business Books written by lawyers, but in franchising there are quite a few good ones, such as Franchise Bible, and Franchising and Licensing, and you should add this one to the list. Stan is passionate about his business and has put together a great collection of thoughts here.
He tells us to hire smart, hard-working, high-energy winners, which are team players. Then he explains how to cultivate the team onto victory. He explains that nothing is easy but a company that wants to lead their category must concentrate on cutting waste, staying efficient and capitalizing on sales. That means taking market share from competitors, looking for new niches and exploring adjacent market niches too.
For Entrepreneurs and Franchising Industry - Book Review
No comments:
Post a Comment