LearningRx CEO, Kim Hanson, and Franchise Business Coach, Karen Anderson recently exhibited at the International Franchise Expo (IFE) in New York City. IFE is a great opportunity for individuals who are interested in franchising to explore a number of concepts from across the franchise world all in one location. From food to fitness and in-home healthcare to one-on-one brain training, hundreds of franchisors attend IFE each year to present their concept to interested candidates from around the world.
According to MFV Comexposium, the creators of the event, “The International Franchise Expo 2022 is the world’s leading event where potential franchisees can network and connect with large, medium-size and emerging franchise brands. The International Franchise Expo brings together attendees, exhibitors, expert speakers and sponsors for information sharing, education, business development, and a bit of fun!” LearningRx has exhibited our education franchise at IFE numerous times over the past 10+ years, and we have always enjoyed the event.
While exhibiting, Kim Hanson also spoke at a panel entitled, “Why Franchising? How Women can be Successful in Today’s Franchise Marketplace.” She spoke alongside Mary Beth Perini from dream vacations and Amanda Dempsey with Kent Franchise Law Group, LLC. The panelists discussed why women make ideal franchisees:
- Women are smart and know how to get things done.
- Women care about—and develop—networks and relationships.
- Women are good listeners.
- Women share with each other and enjoy mentoring other women in their field.
Each of these skills is ideal for a successful LearningRx franchisee—regardless of their gender—and it’s no surprise that 62% of LearningRx franchisees and center directors are women! With an executive team that is 80% female led, LearningRx understands the value of women in our education franchise business.
Hanson, Dempsey, and Perini also gave some great advice to future franchisees who are trying to choose a concept and find success in their new business. They recommended choosing a business in which you will love what you are doing each day. This is one of the main reasons that LearningRx franchisees choose to franchise a one-on-one brain training education business: they are passionate about changing lives and truly love to see the transformations of clients and families. The panelists also suggested delegating when possible. Experience has shown us that franchisees who get bogged down in the business and don’t delegate tasks have less success than those who find great team members to take care of key tasks each week. Additionally, the panelists discussed the importance of knowing your business numbers—the key figures that lead to your business profits. Without a focus on your business numbers, you don’t know where to focus your time, energy, and effort. Finally, they recommended to future franchisees that they address issues head-on. Direct communication will always be the most effective way to address problems with employees and customers alike.
Hanson and her fellow panelists also discussed some of the benefits of franchising, like the ability to make money while also freeing up your time. When you are in business for yourself, you get to decide where you locate your business, as well as how you’ll spend your time (and who you’ll hire to help). It’s easy to maximize your time to improve your quality of life when you’re a business owner—and this includes the ability to be present at important moments in the lives of your partner, children, family, and friends. You can be a part of special memories and prioritize your relationships, as well as take care of yourself. Franchising—and the agency that comes with business ownership—allows you to decide how you will spend your time and energy.
We sat down with Kim after the International Franchise Expo and asked what the best part of the show was. Kim said, “The best part of IFE was talking with people about how we have changed the lives of so many people. Karen and I had fun doing brain exercises with people and having them experience the ‘mental sweat’ our one-on-one brain training creates. I loved reuniting with franchise people that I haven’t seen in two years. And I loved answering the question, “can you help someone who…” and listening to their own personal stories. I also got to explain who makes a great franchisee and talk about the great people that we work with. We heard over and over, ‘what a great concept! I love what you do!’ It was also amazing to see all of the new buildings around the Javits center that were just empty lots before. And of course, every visit to NYC includes eating great food. It was a great trip and I feel blessed by our business and the chance to share it with others!
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