Team Engagement
NFL Franchising Boot Camp Recap: Day Three & Four
After a long but exciting Saturday, Day 3 of the NFL Franchising Boot Camp at the University of Michigan’s Ross Business School picked up where it left off first thing Sunday morning. The schedule for the day included a 1-on-1 conversation with ex-franchisee and former All Pro NFL RB Jamal Lewis, site visits to three area franchises, and more engaging presentations on the dynamics of franchising from the Ross School of Business staff.
The first presentation of the day featured Jamal Lewis who was one of the first high profile athletes to become a franchisee of Moe’s Southwest Grill. Lewis was very candid in detailing how he became involved with the franchise admitting the mistakes he made in managing it. He gave several words of advice to consider when moving into the franchising industry, touching on a variety of subjects including: employing family members, being hands on with the franchise operations, bookkeeping, and long term growth. The Q & A between Lewis and the participants proved to be extremely valuable as well.
After a short break, classroom lectures for the participants resumed and included presentations on: “How to Build a Business Plan”, “Financing a Franchise”, and “Leading Your Management Team”. The morning session also featured a very interactive panel discussion with current Franchisor executives from Cinnabon, Sport Clips, and CKE Restaurants. Kat Cole, President of Cinnabon, emphatically stressed to participants, “Don’t just fall in love with the product, you have to fall in love with the business model as well”. “Time and time again you see individuals invest in a franchise simply because they enjoy consuming their products or services, however if you don’t understand and love the business model, you will quickly fail.” Coming from a CEO of a successful franchise, these words were not taken lightly.
The afternoon store visits included stops at Papa John’s, Title Boxing Club, and Two Men and a Truck. Three of the six project teams chose these franchises to present their research on during the team presentations. The site visits enabled the teams to get first-hand experience and perspectives from the franchisee on how the business operates.
On the fourth and final day Franchising Boot Camp participants met with their respective teams to finalize their presentations. Each group incorporated their own unique personalities and did an outstanding job of communicating what they learned about their franchise. Every group incorporated elements and skills that they learned over the four-day experience and received high praises from the Michigan staff.
To close out the day, participants heard from Papa John’s Senior Director of Real Estate, Tom Andrews, who spoke on corporate opportunities in franchising. He also answered a lot of questions regarding choosing a site location and structuring lease agreements, which seemed to be a topic many participants needed addressed.
As the program concluded, participants were awarded certificates of completion by the University of Michigan’s Professor Francine Lafontaine and NFL Player Engagement’s Justin DeFreece. Perhaps this program ignited the fire in someone to become the next John Schnatter or maybe it prevented someone from making a poor investment. Regardless, we hope that the inaugural NFL Franchising Boot Camp educated and prepared players and spouses to approach this unique industry with knowledge, wisdom and ultimately equipped them with the necessary tools to take that next step in life.