Fiducial, an international provider of professional outsourcing
services for small businesses and individuals, reports that after
attending the 44th Annual International Franchise Association Franchise
Convention in Las Vegas earlier last month, the company remains
ahead of the franchise pack thanks to its technological advances
and proprietary systems while the state of franchising appears as
strong as ever.
Ranked number one among the top new franchises of 2004 by Entrepreneur
magazine, Fiducial has gained steady ground as a franchise because
more end users, clients and franchise candidates understand its
concept as a one-stop shop for small business owners for all their
back office needs. Franchise hopefuls believe Fiducial is a visionary
leading the pack as a franchisor in its Business Financial Services
category and that fact was validated at the IFA convention which
enjoyed its highest turnout ever.
Franchisors attending the four-day event networked with their peers
to gauge how they measured up with industry standards in terms of
recruitment, operations and staffing. Although Fiducial is still
fairly new on the franchise scene, Howard Margolis, Director of
Field Operations and Development, noted that theres not many
things the company is doing that the industry would find counteractive.
From a technology standpoint-with our ESolutions and web-based
applications-what were bringing to franchisees as a proprietary
system is probably ahead of where most of the franchisors are because
of our resources, he said.
Highlights from the convention included how the industry has matured
over the years in the way franchisors recruit franchisees with franchisors
no longer selling franchises but awarding them. Franchisors are
looking for quality people and understand the importance of bringing
in people where the system is right for them and have tightened
their selection requirements accordingly.
Greater emphasis is being placed on understanding how important
it is for franchisor-franchisee relationships to set the tone in
the beginning so each party have the same level of understanding.
If this issue is not addressed, the parties will be dedicating a
lot of resources to human resources and financial resources to correct
that relationship which takes them away from their philosophical
and visionary goals.
Increased attention is also being focused on the concept of national
accounts and how they are becoming more readily recognized by franchisors
as bringing value added to their business.
This can provide national account assistance from products
to services like ours which allows their franchises to focus on
their core services, Margolis said. Whats good
about that-one franchisor assisting another-is you have a great
understanding of the dynamics of what takes place in a franchise.
Prospective franchisees, on average, will experience an entrepreneurial
window about once or twice in a lifetime and they will either grab
it or not. Franchising has existed through all stages of the economy.
Although theres a larger pool of candidates available now,
Margolis says, that the individual still has to have the entrepreneurial
spirit and willingness to take a risk.
Fiducials franchising efforts include providing client opportunities
through its call center initiatives and an outside sales program.
Call centers these days cannot be a stand alone so they must
be integrated with other marketing activities because its
harder to reach businesses that have caller identification and other
Since potential clients have less time to speak to vendors, outside
sales efforts must adapt by reaching the end user through direct
mail, follow up calls and cold calling. Outside sales are more successful
when followed by direct mail, networking and asking for referrals
by a team of salesmen who knock on about 100 doors a week.
Whether its a phone call or a knock on the door, the bottom
line for small businesses contacted by Fiducial representatives
is finding out how the end user can use the services and how these
can benefit them. Fiducial can show entrepreneurs how to stay profitable
and allow them to dedicate energies to growing their business instead
of getting bogged down with administrative tasks that take them
away from what they do best.
Added Margolis, Were looking for opportunities. Theres
no other way to do it. Technology will never replace salesmen because
theres nothing like face-to-face.