Franchise Opportunity Definition

A franchise opportunity establish the market-tested business system. And franchise its procedures in place that allow its franchisees to own and operate below that shows design and brand.

Here are guidelines in place to ensure that every owner is adhering to those same business practices.

The consumers and clients want and expect consistency, one of the critical factors why franchise systems succeed. Boost home healthcare franchising is the Best Life Brands franchise focused on providing nurse-inspired clinical excellence, one patient at a time. Let’s survey some other considerations when first evaluating a franchise opportunity:

1. The Market

• Has a defined market remain determined? Is that Market in growth mode, and is it in decline? And understanding with complete certainty who you will serve helps determine the viability and, ultimately, the franchise’s profitability.

2. Company History

• It researches the officers and management of the franchise, and those who will be supporting our business provide some insight into the franchise’s culture.
• Its looks for stability and experience, as franchising is competitive, and we want the best team as our partner.
• All franchises will file a Franchise Disclosure Document (FDD) with their complete business details to begin the research.
• And be aware that the FDD is not forwarded until it is moved along in the discovery process and the franchisor has determined you are a severe and qualified candidate.

3. Financial Statements

• The FDD contains the franchise’s financial statements. And also review them, question them, and consider having a CPA look them over.

4. Level of Investment

• Firstly, we start with a personal inventory of how much you can comfortably invest. All franchise companies look at liquid capital (sometimes known as the capital required), your assets-to-liabilities, and net worth.
• Secondly, and also if we come in undercapitalized, we are more likely to fail and drain the franchise company’s resources.
• Lastly, and the franchise is like the ecosystem built for the collective good of all the owners. Be honest with yourself about what it invests.

5. Training and Support

• Look at the support and training system that comprehensive and complete away with any outdated procedures.
• We want to need guidance based on what’s happening in the marketplace. Also, please speak with the other franchise owners in the system and learn from the experience.
• These owners are the valuable resource, and it provides with concrete solutions to real challenges.

6. Territory

• Franchise companies are redefining the metrics when carving out territory. It depends on our industry and business; look for what’s trending in your region.
• Is that territory experiencing growth or decline? Visit City Hall and speak with someone in planning or zoning. And ideally, also the franchise company will want this to be a win-win situation; otherwise, everyone loses.

7. Royalties

• Firstly, the franchise must make money on its royalties, not by providing owners with “other” services.
• Secondly, many of these other services are third-party vendors and constitute a pass-along expense.
• Lastly, several franchisors reward the owners with a sliding royalty scale based on revenue: the more you earn, the minor royalty you will pay. Also, look at minimum royalty payments and see if they enforce.

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Trial Closing – Definition

Trial closing professional sales consultant and sales trainer, we realize far too many examples of salespeople talking about the product/service and then asking for the sale.

As such, most salespeople don’t know where they are in the sales process. When they try it close the deal, there are too many impediments or unanswered questions on the buyer’s part, and the answer is “no.”

And the salesperson does not like the word “no” and doesn’t know how to respond, so he and she walks away with another lost opportunity.

And the first reason to trial close is to understand where we are in the sales process, so we know what is essential to the buyer and where it takes the conversation.

We remember the previous example of the thermometer – if we don’t take the patient’s temperature during the diagnosis and ask about symptoms, how can you determine what to prescribe?

We can’t make a proper diagnosis or ask for a buyer’s decision if we don’t know where we are in the process.

The second reason to trial close is to determine when it is appropriate to ask for the sale. It is significant when asking for the sale is much more important than knowing how to ask for the order.

We don’t believe in hard closing a customer – it’s too uncomfortable for me, and instead, be an influential advisor than the hard closer. If we know when to ask for the order, then how you ask for it is so much easier.

What are the Examples of Common Trial Closing Questions?

• • The following are some common trial closing questions. And think about these terms of how easy they are and how much information we can get from the prospect.
  • How do you feel about what we have discussed so far?
  • And what do you think about the solution I’ve shared with you?
  • And how does what we’ve talked about sound to you?
  • Based on what you’ve heard so far, what are your questions?
  • And if you had your way, what changes would you make to the proposal?
  • Straightforward questions to ask, correct?
  • And remember, though, these are all open-ended questions. We need to ask a trial closing question that we get the prospect talking.
  • So we can learn about where you are in the sales process and when is the right time to ask for the sale.

How did Buyers Respond to Trial Closing?

• When we ask the trial closing question, we will likely get one of two types of responses; Cold-as-Ice, I’m-Feeling-It. The following information guides how to respond.

1. Cold as Ice

• If we get this type of response to a trial closing question, we need to ask a follow-up question that immediately captures our prospect’s attention because it is clear we take not broken through yet. Here’s an example.
• The salesperson “What do you think about what I have presented so far?”
• Prospect: “we don’t think we would be interested.”
• Salesperson: “We can appreciate that. One other question we take, though, how does our company handle transportation delays, which can affect your manufacturing timetables?”
• Result: The prospect responds with information. And the salesperson asks another open-ended question to determine if the option is still in a mode of resistance.

2. I’m Feeling It

• If we get this type of response to the trial closing question, we know we are on the right track, making progress. And it’s time to strengthen the story before asking for the sale. Here are the examples.
• Salesperson: “How we feel about everything we take talked about so far?”
• Prospect: “Everything sounds pretty good so far.”
• Salesperson: “When we first met, we mentioned that our company is taking a hard time meeting delivery schedules. It might we tell the little extra near that?”
• Result: The prospect responds. And the salesperson then discusses an extra feature that deals with this new element.

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Extortion of Definition

The extortion traditionally covered only public and government officials’ actions, though today, the crime applies to private citizens’ activities.

In some states, extortion applies to public officials’ acts, while blackmail applies to private citizens’ actions, even though the same type of activities involves.

And extortion occurs when someone attempts to obtain money and property by threatening to commit violence. And also accuse the victim of a crime, and reveal private and damaging information about the victim.

Laws

1. Threats

• Extortion base upon some threat. Also, the person who makes the threat must intend it commits the injury and harmful action against the victim.
• For example, under the law, the person commits extortion by threatening to injure the victim and another person.
• It accuses the victim of a crime or some other disgraceful conduct, exposes the secret, and reports the person to immigration.
• A person makes the threat verbally, in writing, and even though non-verbal gestures and other communications. In some states, merely making the threat is enough to qualify as a crime.

2. Intent

• A person commits extortion when making the threat with the specific intention of forcing someone else they provide money, property, and something of value.
• However, the intent not bases on the defendant’s statements alone but rather upon the circumstances and facts surrounding the threat.
• In other words, the prosecutor proves the accused intended to deprive the victim of property without taking to show what remains going on in the defendant’s head.

3. Fear

• When someone makes the threat and attempts extortion, the threat itself must cause fear in the victim.
• And the fear bases on almost anything, such as the fear of violence, economic loss, social stigma, deportation, and anything else that might cause the victim to act and hand over the property.
• However, the victim’s experiences don’t need to fear, but only that the accused intended to cause fear.
• Also, the person who experiences fear doesn’t necessarily make the accused guilty of extortion, as the accused must intentionally cause the anxiety to gain property.

4. Property

• The type of property someone tries it obtain when using extortion encompasses almost anything that takes value.
• However, the property doesn’t need the actual physical stuff, and its property does not take the money value.
• It’s also unnecessary for the accused to deprive the victim of property, attempting to extort property and the crime.
• The courts also held that the property involved in extortion includes property cash, tangible goods, liquor licenses, debts, and even agreements not competing in business.
• And sexual acts it also typically covered, though some states take specific laws that govern sexual extortion.

Penalty

• Though states provide a wide range of extortion penalties, the greatest often punishes as a felony offense.
• A felony the most severe crime category, once that punishable by at least the year in prison and significant fines.
• In some states and some situations, however, the crime they classified as a misdemeanor, in which case it takes lower fines and jail sentences associated with it.

1. Fines

• The fines use extortion range widely. Also, but as much as extra for each conviction.

2. Restitution

• In addition to fines, the person convicted of extortion must often pay restitution to the victim.
• And its especially when the victim deprives them of valuable property.
• Unlike the fine, which pays to the state, restitution pays the victim as compensation for the victim’s loss.

3. Incarceration

• Prison sentences for extortion it significant. And state laws allow for prison sentences of up to 15 years and extra for each extortion attempt.

4. Probation

• Courts also impose probation sentences for an extortion conviction. And courts it extra likely to use the probation sentence.
• When someone fails at attempted extortion and it did not otherwise result in the victim’s property loss.
• Its probation sentences typically last for 12 months and extra. It includes the fine and requires that the convicted person complies with the court’s specific terms.
• Also, keeping the job and not contacting the victim. And failing to comply with probation terms typically results in having to serve a prison sentence.

Purpose-driven Content Marketing Definition

Purpose-driven content marketing means the business and brand bond with the target audience.

And it bases on the shared needs and interests – including interest in supporting the worthy cause.

But while most organizations recognize the importance of giving back,’ they did not continually accustom to creating content around the efforts.

It method that both engage the audience and drive them to participate. And success in this stadium all about developing.

And the right strategy and executing it authentic, organic way brings mutual benefit to everyone involved.

What are the Benefits Of Purpose-Driven Marketing?

• We all like to feel the part of something bigger, and we want to feel we are making a difference in the world.
• During the significant change in how and why consumers connect with brands, those driving social changes are bang on-trend.
• Today, brand values are equally important to consumers as the functional benefits they can offer.
• And meaningful brand action vital for building relationships and gaining customer loyalty.
• And CEOs can say sure that existence judges by the impact on society extra than anything else.

Who Organizes Purpose-Driven Marketing Well?

• The prodigious dove example of the brand employs purpose-driven marketing.
• And the mission to improve the self-esteem and confidence of women around the world.
• Through the speak beautiful movement and campaign that highlights the concept that beauty skin deep.
• They want to realize committing to women’s comfort – and for consumers to see them as so much extra than soap and moisturizer.
• It ingenious, heartfelt strategy. It might not directly impact profit, but it makes Dove extra relatable to women around the world.
• And it shows the different profound qualities in the industry where vanity and superficial appearance it prevalent.

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Content Republishing Definition

Content republishing the regular production of editorial content takes lots of time and effort.

And blogposts must appear regularly, meet the target audience’s requirements, and advertise on different channels.

However, the reach of content always ties to the channel. Not all potential recipients it reaches.

And republishing of content can extend reach through the multichannel approach with little effort. However, it requires a content marketing strategy.

Therefore, content planning, available formats, and the target group must come before content republishing.

Any energy already invests in the editorial plan use several times in content republishing. Outdated blog posts, for example, it’s updated with little effort.

Other forms of content created from the blog post, for example, create infographics based on the published post’s information.

And content republishing aims to optimize existing content to add value for readers, but the effort on the part of the provider for less than the original content creation.

How Content Republishing Works?

• Content republishing done in several four steps. Each step attends by few key questions.

1. Analysis

• Which content must beneficial to republish? Which blog posts, whitepapers, and infographics generated how much traffic? What do other KPIs look like, such as the length of stay, scrolling, or the number of incoming links?
• And which content obsolete and no longer up-to-date? These and other questions identify possible content for the republication and recommend it for modification or media planning updates.

2. Relevance

• Which content appears particularly relevant for the respective target group? Which channel is suitable for republishing content.
• These questions plan to enable the content’s strategic alignment and, if the implementation is accurate, increase reach.

3. Markup

• It must certain content gives the canonical URL? Should the URL change? Which keywords must maintain and supplement? Which keywords take the unique potential for improvements in ranking?
• Must it link added to the content? The reuse of content dependent on SEO-compliant markup, regardless of whether it’s our own and third-party content.
• In any case, duplicate content must avoid. And metadata such as canonical tags and meta descriptions just as valuable as the transparent handling of sources and references.
• Since the outdated content already remains indexed, it advisable not to change its URL. There are gaps in the keyword strategy it located to cover terms or optimize these terms’ ranking.

4. Republishing

• Reuse of content, like content marketing, dependent on the efficient marketing of content. The range and outreach only when optimized.
• Suppose the content advertise in a certain way. For example, updated blogposts can share again on social networks.
• And microblogs or integrated into the newsletter campaign. And it’s reaching the readership along with influencers central to the highest possible coverage of the target group.
  
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Sales Funnel Definition

With the various sales funnel software providers, we might be wondering what the sales funnel is?

Suppose we work in sales and marketing for the long. We know that leads can be at varying buyer process stages.

It depends on the complexity of our product and service, and it might take months to nurture and convert this lead into a customer.

If done right, then set up to streamline its process and hopefully give the user a better all-around buyer experience.

That ultimately guides them to what they were looking for, and viola, they make the purchase!…and even better, become a loyal customer.

Our sales funnel made up of series of steps that consist of various marketing assets, for example, social media campaigns, landing pages, and email.

And also it software can provide us with a complete view of our sales and marketing efforts and results at a glance.

What are Examples Sales Funnel?

• A sales funnel for the entrepreneur offering online courses in marketing might look the bit like this:
• User sees the ad on Facebook offering SEO tips with the call-to-action that states. And download the complete guide to SEO.
• And the user-directed to the landing page can download the guide and opt-in to receive the entrepreneur’s emails.
• The next day she receives a newsletter that contains a link to the courses offered.
• The user signs up for one of the courses.
• We continue to receive newsletters with discounts on course fees and sign up again.
• These actions in the buyer’s journey tracked in the sales funnel software used by the entrepreneur, meaning that we can see which point users are dropping off and where they’re converting.

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When to use Sales Funnel Software?

• If we start, then using sales funnel software might fit us as our upfront costs that kept to the minimum.
• We won’t need to worry about hiring the web developer and signing up for the dozen tools.
• However, we want to sure that the software we go for includes what we need.
• For example, while some offer webinar hosting, others may not, if crucial, part of our business.
• We want to find a provider that caters to our needs. If we already signed up for the number of tools.
• We take to assess costs and if it’s worth taking out its service. While we can integrate to the software with other apps, this might impact the user experience and be more hassle for you.

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The potential gross income also recognizes as gross scheduled income. The total income property will produce if it fully leases the subject property at the prevailing market rents.

And frankly, the ideal number, often different from the actual rent that the property produces. Specifically, we can not collect gross scheduled income for various reasons, including:

Rent is above or below market.

And the occupancy rate less than 100%.

And some tenants are not paying the rent.

Also, the landlord rebates part of the tenant’s rent.

It also part of the property temporarily not rentable.

Therefore, gross scheduled income, the target number, achievable in some properties and not in others.

Ultimately, as we shall see, gross scheduled income is different from adequate gross income.

What is the Gross Scheduled Income vs. Effective Gross Income?

• Adequate gross income EGI is different from gross potential income. And the difference involves three main factors that affect rent collections.

1. Expense Reimbursements

• First, tenants pay expense reimbursements. Generally, It includes insurance, maintenance, and real estate taxes. In contrast, the absolute net lease requires the tenant to pay all expenses.

2. Collection and Vacancy Loss

• Secondly, the factor that reduces PGI to EGI collection and vacancy loss. And collection loss the projected amount of rent that we won’t able to collect for the period.
• Also alarmingly, this can stem from various factors, such as rent strikes, squatters, evictions, and deadbeats.
• And vacancy loss occurs when we can’t rent out all of our available units. Alternatively, someone can move out before there the replacement tenant.
• During the lease-up phase of the new property, we must recruit and sign new tenants.
• It obviously, and takes time, which creates vacancy loss. And clearly, we hope to stabilize the property at 100% occupancy as soon as possible.

3. Additional Income

• Thirdly, other income sources impact EGI. These include laundry machines, vending machines, parking, storage units, pet fees, late fees, etc.
• Mainly, we can estimate the EGI factors using industry benchmarks, comparable properties.
• And historical performance, the judges consider all these factors when evaluating properties.

What is the Potential Gross Income Formula?

• The formula for PGI :
• PGI = Σ (market-level rent per unit x number of teams at that rent)
• Σ means sum.
• It covers all cases in which different units take the same and different rents.

How Calculate the Gross Scheduled Income?

• Here how we calculate gross scheduled income. In the spreadsheet, please list all of our units in Column A.
• For column B, enter the monthly rent for each unit. For Column C, but the product of 12 times B. Finally, sum Column C to arrive at the gross scheduled income.

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Weighted scoring prioritization Definition

Weighted scoring prioritization uses in numerical scoring to rank our strategic initiatives against benefit and cost categories.

It is helpful for product teams looking for objective prioritization techniques that factor in multiple layers of data.

And weighted scoring is the prioritization framework designs to help us decide how to prioritize features and other initiatives on our product roadmap.

With its framework, initiatives are scored according to standard criteria on a cost-versus-benefits basis and then ranked by their final scores.

The weighted scoring approach aims to derive an objective, quantitative business value for each competing item on your list. We can use those values to determine which items must prioritize on our roadmaps.

How is Weighted Scoring uses?

• The weighted scoring model is instrumental in product management, but its utility is not limited to this field.
• For example, if the company wanted to select the right piece of capital equipment among several choices.
• It creates a standard set of metrics—the combination of both benefits and costs—to score each piece of the type of equipment.
• The “weighted” feature comes from the fact that the company will deem specific criteria more important than others and, therefore, give those criteria a higher potential portion of the overall score.
• In continuing with these examples, the company might assign more “weight” to the complexity and time to implement the given piece of equipment than it transfers to the cost of buying it.
• A more straightforward example of weighted scoring—one many of us are familiar with—uses it on school tests.
• And teachers who deem the essay portion of the exams extra critical than multiple-choice sections. It gives those essays a more significant percentage of the student’s overall grades than their multiple-choice answers.
• And also its using this same thinking, students who take both the small quiz and a final exam. It approaching soon in the same class will intuitively give more attention to preparing for the last. They understand the final exam takes a greater weight on the overall grade in the study.

How the Product Managers use Weighted Scoring?

• In the product context, weighted scoring prioritization works as follows.

Step 1:

• It compiles the list of the features and other initiatives under consideration.

Step 2:

• Devise the list of criteria, including both costs and benefits, on which it’s scoring each of these initiatives.
• The screenshot here shows a team’s example using six scoring criteria—three costs, three benefits—to rank five competing product initiatives’ relative strategic value.

Step 3:

• It determines the respective weights of each criterion we are using to evaluate our competing initiatives.
• For example, let’s determine that the benefit “Increase Revenue” it must weighted more heavily in the overall score than the cost “Implementation Effort.”
• Then we want to assign a more significant percentage of the overall score to Increase Revenue.

Step 4:

• Assign individual scores for each potential feature and initiative across all of our cost-and-benefit metrics, and then calculate these overall scores to determine how to rank our list of items.

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