Franchisee; Franchise Broker
ABOUT JANE LOMBARD
Jane Lombard offers many years of experience from all aspects of the franchise industry. Over the last 16 years, Jane has owned and operated 4 franchised businesses and currently runs two.
Jane’s current franchised businesses are Fifo Capital – which provides cash flow solutions to business through invoice finance and The Franchise Shop a franchise consultancy that works to develop businesses into franchises and assist in franchise recruitment.
As a Fifo Capital franchisee, Jane provides finance to franchisees looking to buy a franchise and a wide range of both start up and established businesses that are going through a period of growth and need support with their cash flow to allow the to take the leap to next level of success.
As a franchisee of The Franchise Shop Jane works with a large range of emerging franchisors across a broad range of franchise models and systems. Working with her clients to develop their businesses into successful franchise models and assisting them in recruiting franchisees.
Jane is a NSW FCA Committee member and also one of only 10 Certified Franchise Executives in Australia, an internationally recognized qualification in the franchise industry.
During my conversation with Jane she shared:
- Buy the business for what you want out of it
- Buying the right franchise for you
- Doing your due diligence – what questions do you ask?
- What skills do you need to run a Franchise
- Working with your Franchisor
- What is in a Franchisors system – they do not always provide everything
- What a Greenfield site is
- What it takes to be a high performing Franchisee
- How to put together a great team that works for you and with you
- The franchising Code of Conduct
- Preparing your Business Plan and identifying your Key Performance Indicators
- How long it takes to buy/sell a franchise
- How to find true franchise lawyers and accountants
- When is the best time to Exit your system
Jane’s “One Thing” that she does every day…..
- Be grateful – Knowing everything I am working towards is where I want to be – Love what you are doing
Jane’s secrets are
- Her “Me” time – being home for the kids when they come home from school
- Getting the right employee – Do not employ yourself – employ for the skills you don’t have
- Keeping on top of Cashflow – Use FIFO Capital
Jane’s tip for new Franchisees….
- Don’t underestimate the importance of business skills
- Read Greg Nathans book – The Franchise E-Factor
Jane’s – Quotes
“Write a list of what your skill sets are and where your weaknesses are so that you know what you have to outsource” – Jane Lombard
“Buy something that rocks your boat so that you are very excited to get up every morning” – Jane Lombard
“Enter a Franchise system with your eyes wide open” – Jane Lombard
“Understand what it is that the Franchisor provides” – Jane Lombard
“Get to know the high achievers in your system – they will only be to happy to share with you what it takes to be successful” – Jane Lombard
“Get experts who have real franchise experience” – Jane Lombard
Selected Links For This Episode
For your FREE E-course click on the link http://www.franchiseesuccess.com.au/wish