Howard Barouxis - First 24 months of Valenta franchise

Hi,

I'm Howard brooks is and I'm a managing director with valente in

Miami florida and this is my part two video about the 1st 24

months of a valente franchise and things that you might want to

consider if you were to do your own projections and a business plan

For a Valente franchise.

So let's start by thinking about some of the companies longer term visions.

Now, the company's visions for 2027 are to have 500 managing partners globally.

500 franchises

and have half of those in north America between the US and Canada.

When we reach um 500 managing partners globally,

we believe we will be at a billion dollars

in revenue and that works out to basically having

500 of those partners bring onboard clients um that

are going to stick with us clients for life,

let's call them um every other month.

So six a year

And having those six clients

Have recurring revenues of at least $5,000 a month now

$5,000 a month could be to entry level people,

a non entry level person and a half about and a half on a full time basis,

it could be anything.

But we just took that number,

5000 because it seemed like a nice round number and it seemed very attainable.

And if we play that out over 500 managing partners

with customers only coming on board every other month,

that's what it comes out to.

But I would encourage you to kind of go through the same kind of exercise.

If you were to do some projections and think about how many

clients you might bring on board every month or every quarter and

think about what they might be bringing in terms of recurring revenue

or one time revenue and do some projections based off of that.

I can make a business plan available to you if you like as a template

to kind of think about other things that you might want to plan for.

But we can talk about that offline

now,

something else you're gonna want to think about once

you get to that 24 month timeframe is.

What's next? Do you want to continue as a solo preneurs?

Uh maybe you've actually brought on board

people already before the 24 month timeframe,

but that 24 month timeframe is a good time to think about

what's next for your business. So you want to continue as an owner operator.

Do you want to bring on board people to work for

you as a 1099 type contractor as either a consultant,

business development executive,

maybe you want to bring on board and executive assistant.

You certainly can do some of these things with virtual staff.

I brought on board virtual assistance.

Gosh, I think in my third or four month,

third or fourth month I brought on board Inside Sales type folks,

telemarketer tech folks offshore to assist me.

These things are available to you, you know right away or as you progress,

but there's certainly things you want to think about

At the 24 month timeframe

now,

something that you also might want to think about is

potentially purchasing an additional franchise and you don't have to,

it's something that is available to you.

We really want people to be successful in

one franchise before they would purchase another one.

But

buying additional franchises might make sense for you

if you really wanted to focus on,

um, you know, smaller,

mid sized businesses that are very geographically um specific, you know,

say you wanted to go after accountants or

attorneys or doctors or insurance companies um,

in a specific market, like I go after some of those in Miami, well,

if I wanted to go after those types of businesses in Memphis or um, I don't know,

new Orleans or boston or something like that,

I would want to buy another valente franchise to

really do kind of correct um direct marketing,

direct prospecting to that type of business in another market.

You're certainly welcome to work your network wherever it

takes you in the world or the country,

but if you really want to focus on that type of business, uh, you know,

another valente franchise is an option for you, but it doesn't have to be,

it's really up to you, but again, something to consider something to think about

now,

as you think about your valente franchise and maybe doing a business plan,

you might want to think about about why

people engage with us from a consulting perspective,

they really engage with us because there's a lack of experience,

lack of expertise, they need an external opinion.

Maybe they think they know what they want,

but they're not really sure they want an external unbiased opinion to weigh in

on digital transformation. There is just a huge lack of experience in R. P.

A box and stuff like that, the SMB community.

So we really get called in for that reason

and then for staff augmentation, if I've heard it once, I've heard it 1000 times,

people just can't find people to work for a lot of the jobs that they're trying to

fill and oftentimes they can't fill them for the

budget that they have in mind as well.

So that's why people reach out to us and again,

think about this as you're starting to do your own type of business plan

now, in terms of where you should focus your time,

we really want you focused on mid sized companies, mid sized companies,

50 to 552,000 type employees,

you're going to be able to offer all of the

services that we provide to those types of clients.

They'll be interested in staff augmentation, they'll be interested in

consulting engagements,

they'll be interested in digital transformation projects,

They're really a good fit for all of those projects.

We like to have people shy away from large enterprises because the

sales cycles are so long also onboarding as a new vendor can

be very complicated and complex and unless you've got a coach to

really help you walk you through that at that enterprise large enterprise,

we we advise against it

for sure they'd be interested in all the

services but sometimes they're more headache than they're worth

now. Smaller businesses.

They're great, especially for virtual staff,

you might want to start focusing a little bit more of your time in the very beginning,

once you get going on this area,

they're really great customers for virtual staffing,

but typically they're usually not a fit for, you know,

larger consulting engagements or even mid sized consulting engagements.

And sometimes there's just not enough work

um of the same type um that are fit for digital transformation in R. P. A.

But they definitely make great virtual staffing opportunities

and we definitely have clients in this area.

But anyways something to focus on, something to think about

what else

in terms of lead generation, this is something you don't want to think about.

And this slide is kind of an eye chart maybe I'll try to bring this up a bit.

So this is coming from our crm and it's really talking

about where our leads come from and it doesn't really help

you as a new franchise C but the first source of

business for us is really existing clients expanding their footprint.

So you know, months, one through three months, you know, uh

You know, three through 12, it's not going to be as big a factor,

but clients will add on services.

And I've seen this in my own practice.

Now,

the third source of new business for us is actually referrals from existing clients

to people that they do business with. And I've definitely seen this as well.

But the second biggest source of leads for us

in terms of business set has been closed,

we would kind of put in this online marketing category and it's broken

out a little bit to the left in terms of email campaigns,

google adwords campaign, social media campaigns,

leads coming in through the website that could be driven by

social campaigns or email campaigns.

Um this is really where kind of that prospecting,

most of the prospecting um comes through and pays off.

So something that you probably want to focus on a lot of the first year,

definitely those months one through three, but there's other ways that we have seen

business clothes and it's attending conferences,

it's external referrals from centers of influence in our network,

its advertising in local trade journals, it is

partners providing US leads, etcetera, but you know,

things to think about and um you know, to keep in mind that, you know,

once you get rolling, you know,

you are going to have some flywheel of success type of dynamic,

once you bring on board your first customers and it's really important to take care

of them so that they're happy and they're

making referrals and they're expanding their footprint.

So in terms of money that you can spend to drive some prospecting activity, um,

you know, advertising in a trade journal might be $500 a month.

A lot of um, you know, smaller cities or even mid size and larger cities have

specific business magazines that make sense

or business portals to advertise on joining

a chamber of commerce could be a great use of time and money.

And typically those are also around the $500 amount.

Um, you could attend trade shows, we've seen trade shows for $3000 10,000 dollars,

you know, $5000 to 25 K is a,

you know, a good number to think about.

And again you can split those with other managing partners if that makes sense.

And then social media, whether it's google adwords linkedin campaigns,

facebook or instagram campaigns,

you typically need to spend $20 a day on

those types of activities and then they pay results,

Email campaigns can be free or maybe $100 a month

to pay for a tool to do drip email campaigns.

I use a tool that is exactly like that and then I really like it

and email campaigns,

it's really a numbers game just gotta throw a lot of stuff out there.

Well thought out injury pig mail campaigns,

but you will get some leads coming through from that

and then there's things that come with no cost client referrals,

existing client referrals, partner referrals and public relations.

Now, other things to think about before you join Valente.

And as you're doing a business plan,

we really want you to focus on what industry vertical,

what market do you really want to focus on?

Most of our managing partners?

Focus on something that we're particularly good at or

have a lot of clients with maybe accounting,

maybe law, maybe medical,

maybe financial planners and then something

that they're particularly good at and an

industry that they have a passion for that they have an expertise in.

But as you're building out your business plan, think about that,

think about the two or three industries you really want to focus on

because you don't want to boil the ocean.

You want to have some focus and you really want to become an expert.

There's a lot of sMB s out there and you really want to, you know,

just focus and you know, when you're focused and aimed properly,

you'll get decent results.

What else in terms of close ratios.

This is also something you're gonna want to consider as you

do some projections and I've always wanted to have a sales

funnel that was three times maybe four times if possible what

I wanted to book and I see closed ratios within valente

in that one out of 31 out of four ratio, once it's in the funnel, once there's

qualified that, hey, they understand the offer.

They do have a need, they do have a budget and they are interested in a quote.

Um, the close ratio we definitely see is that one out of 31 out of four rate.

Historically the company has seen a 15% close right from the very beginning,

but definitely in the last couple of years we've been running at that 25 to 30% rate

then. What else? Okay.

We do get together uh, quarterly right now in different cities.

We've got a conference coming up in Toronto next month by the time you see this,

that might have passed.

But we're constantly getting together on a quarterly basis in

a hybrid way where people can attend in person or virtually

At some point in time. Probably in 2024 we will start to focus on larger,

um,

kick off meetings. Annual conferences. Either North America or the EU or Australia

and here's a picture or two from our last conference in March.

This was a hybrid meeting.

So we had all the folks from the EU and Australia attending virtually and about half

the folks in North America were able to attend and it was a good time.

You know, we got some team building activities

and we talked a lot about business and success

stories and it was great to be together.

So again,

these are basically the steps to becoming a franchise owner at this point in time.

You would have had the introduction call, um,

you would have had the franchise opportunity presentation.

Hopefully you've attended to meet the team.

If you haven't, please go back and do that,

you get the opportunity to meet with people you actually would be working with.

And then this is the 1st 24 months

from here. You can attend another meet the team.

You can start to get the franchise documentation.

But I think more importantly,

is starting to put together a business plan to see if this would work for you.

Start to do some projections start to think

about what a business plan would look like.

Once, if you like what you see,

you're probably gonna want to join and we can take

the rest of the steps on this chart and and get

you on board typically from the time and decide you want

to join to the time you can be on board.

We're talking about 30 days. So please

ask us what other information that you need

in terms of

um, yeah, putting together a business plan, putting together some projections,

putting together some thoughts on what this might look like for you and we'll

help you to figure out if this is a good business for you.

Um, again, here's where we're located around the world

and I think that is all I have for you today.

So thank you so much for your time, your attention to this.

I look forward to talking to you in person,

taking a deeper dive discussion on any of these topics and

walking you through, assisting you and the rest of your journey,

determining whether this is a good fit for you and then helping

you join if that is something that you want to do,

thanks.

Howard Barouxis - First 24 months of Valenta franchise - Part 2

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