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No Renegades Wanted, Says Zounds' Development Exec


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Ann Power has 18 years in franchise development, and recently joined Zounds, a new hearing-aid franchise in Phoenix. The concept is taking off, mostly because Zounds manufactures its own hearing aids and sells them directly, for $3,000 for a premium pair, much lower than the $7,000-plus that competitors charge.

The pace is so brisk, she says, that she knows she’ll have to tamp down the excitement. She insists on working with consultants, because she says they’re skilled in matching the right candidate to the franchise.

Beyond that, she emphasizes two things. “No. 1, is your candidate well funded enough for the opportunity they’re looking at,” she says, adding a careful review of all financial information is key. “I always want to make sure they can cover their debt service, as well as their household expenses, to get them to the ramp-up time without working in fear and desperation.”

Her other key is how well the candidate will work the franchisor’s system. She can spot the “renegades,” she says, by noting how they go through the candidacy process. Those prospects who don’t show up for appointments, offer better ways of doing things than the franchisor’s, or don’t take the steps they’re asked to take, will likely continue in that path after they sign.

A candidate who's a renegade won't suddenly change when becoming a franchisee. “The money, and not following the system, are the two main reasons that people will fail,” she says, and will offer more tips for careful franchisee selection in the February print edition of Franchise Times.

 

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The latest news, opinions and commentary on what's happening in the franchise arena that could affect your business.

Tom KaiserTom Kaiser is associate editor of Franchise Times. He can be reached at 612.767.3209, or send story ideas to tkaiser@franchisetimes.com.
 
Beth EwenBeth Ewen is editor-in-chief of Franchise Times. She can be reached at 612.767.3212, or send story ideas to bewen@franchisetimes.com.
 
Nicholas UptonNicholas Upton is staff writer at Franchise Times. He can be reached at 612.767.3226, or send story ideas to nupton@franchisetimes.com.
 
Mary Jo LarsonLaura Michaels is managing editor of Franchise Times. She can be reached at 612.767.3210, or send story ideas to lmichaels@franchisetimes.com.
 
Mary Jo LarsonMary Jo Larson is the publisher of Franchise Times Magazine and the Restaurant Finance Monitor.  You can find her on Twitter at
 twitter.com/mlarson1011.
 
Nancy WeingartnerNancy Weingartner is editor-at-large of Franchise Times magazine and the editor of the Food On Demand media project. You can reach her at 612-767-3200 or at nancyw@franchisetimes.com.
Follow her on Twitter at http://twitter.com/nanweingartner.
 

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