The latest Learn-Train-Practice (LTP) session organised by LMI for its UK franchise owners was held at the Warwick Holiday Inn Express and again offered valuable insight and best practice to help franchise owners grow their businesses.
Chaired by LMI-UK North West Franchise Director, Jude Crow, the session started with the usual meet and greet formalities, allowing new franchise owners an opportunity to introduce themselves to the group.
Before kicking off the day’s events, franchise owners discussed recent success stories from their businesses, including the impressive 80% increase in LMI-UK’s unit sales from the previous year, and the possibility of securing new client contracts within the second half of 2018.
Recruitment fuels business expansion
Following a brief discussion about success stories, LMI-UK Managing Director Ray King, then delivered an insightful presentation to the group, highlighting effective ways each franchise owner could grow their business, through delivering the best return on investment for their clients.
Ray quoted an LMI Director based in Canada and the way he had grown his business by focussing on ensuring his clients achieved a high ROI.
He argued it was essential to get programme participants to adopt the LMI methods and ideas to ensure they think and behave in more effective and productive ways as a leader, manager and individual.
Barry had returned to basics, recognising the power within the LMI Facilitation Certification Manual and the success guaranteed by following the LMI methodology, which will deliver a win for the client and a win for the LMI programme facilitator.
The importance of setting short-range 7 day goals was emphasised, as was the need for each LMI director to create and understand their own personal winning affirmations.
Role play and skills development
In the lead up to lunch, the group then engaged in a role play session designed help franchise owners better understand the sales interview process, identifying effective negotiation techniques and styles throughout.
Led by Jude, Michael and Karl, the role play exercise gave the group an opportunity to watch the process unfold and to analyse responses in greater detail. The exercise was a great success and it was agreed to increase the use of role playing different scenarios at future LTP events.
Apprenticeship Levy update
Following lunch, LMI-UK London Director Nick Howes, then gave an important update with regards to his work with Nescot College, to deliver level 3 and level 5 Management Apprenticeships.
Although the government initiative has struggled for traction in the market, much of that has been put down to organisations being unable to find apprenticeships appropriate to their needs – LMI-UK as delivery partner for Nescot College is addressing this situation.
During the update, Nick reminded the group to be proactive and ask every business what they are doing when it comes to the Apprenticeship Levy to spot potential business opportunities.
Achieving success through motivation
The afternoon then featured two very engaging presentations from Jude Crow and Midlands Franchise Director, Chris Williams.
Focussing on the importance of referrals in securing new sales, Chris provided franchise owners with solid evidence that showed new business could be achieved by securing referrals from satisfied clients.
The motivational presentation allowed the group to understand the importance of building positive relationships with existing customers and striving to deliver a high-quality service that could maintain overall satisfaction.
Building on Ray’s earlier sentiments with regards to recruitment, Jude Crow then delivered a presentation again stressing the importance of building a team to achieve results.
Franchise owners were shown the importance of expanding their business and using the expertise of others to help complete tasks more efficiently.
GDPR and other digital developments
With GDPR just around the corner, Ray King took the opportunity to remind franchise owners of the importance of complying with the updated regulations, which looks to tighten data security within businesses.
Although LMI-UK already treats data security with the utmost importance, Ray urged the group to offer their clear consent to help protect the business once the new regulations were officially introduced.
This brief discussion around GDPR was then followed up by a quick reminder from Nick Howes, with regards to LMI Digital Programmes, iMy-Tyme and DNi – asking individuals to allocate enough time to become more familiar with these developments.
Nick explained there would be a full comprehensive training session at the next LTP session to help franchise owners better understand the digital programmes, allowing the group to address any further questions before they are released.
The future of LMI-UK
To conclude the day’s events, Ray once more took to the floor to ask all attendees what they had found most useful from the day. The general consensus was that the role-play to help the sales interview as the stand-out element of the day, but that every session had proved valuable.
There was renewed optimism in the room to increase sales and deliver the growth predicted, as the UK faces up to a crisis of leadership in many of its largest organisations to say nothing of the SME businesses that drive growth and job creation.
The event demonstrated the importance LMI-UK attaches to ongoing support for franchise directors, who may work alone, but can still benefit from the success and best practice shared by fellow franchise owners – key to the LMI brand’s success for more than 50 years.