David McKinnon, one of the most accomplished franchise builders in the world, discusses his passion for franchising and key advice to grow your business. As Co-Founder of Service Brands International, he talks about how he built Molly Maid, Mr. Handyman and other companies to represent nine brands with nearly 2000 franchises in eight countries. He discusses the importance of trade associations and his involvement with the International Franchise Association. Tune in to this week’s episode of Million Dollar Monday to hear more.
- Don't go grow in an area that you don't know anything about. Try to take your expertise, the contacts, and the synergy you have around you and look at what other businesses might be interested in.
- PR is one of the many arsenals you need to have working on your side, today everything is so different with social media and the internet, but you still need PR no doubt about it.
- The International Franchise Association (IFA) was trying to figure out how to involve younger people and businesses in the association and how they could stimulate the excitement in the youth about franchising.
- We ran an international global competition, we had 3000 applicants last for the last one. There were 20 winners, we bring them to the IFA convention. Ultimately we narrow it down to three winners out of the 20.
- And the three of the 20 are finalists very much like shark tank, the final day go in front of 5,000 people we'd have special judges, I actually had Daymond judge a couple of years ago. The finalists pitch to the audience, and then the audience votes on their phones which idea they think is worthy of the winner. And it's been a tremendous, I've got all these friends now all over the world telling me about their newest milestones they reached in their business.
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