Franchising can be the best way to expand your business. It all starts with getting the right mindset and preparing for what this journey will bring you.
But opening your business for franchising will also open up a myriad of challenges. There are many factors to consider before embarking on this new adventure. As a business owner and now a franchisor, you will be dealing with more people. Some franchisors even speak personally to potential franchisees.
The strength of your relationship with your franchisees is fundamental to the success of the business.
How do you nurture your relationship as a franchisor with your franchisees?
In a relationship, you need clear, open communication and mutual trust. This means that both the franchisor and the franchisor must be able to brainstorm ideas for future innovations. Although franchisors restrict what franchisees can do, franchisors should also hear any suggestions that could improve the business.
The role of the franchisor does not end once the franchisors sign the franchise agreement. It is just the beginning of relationship building. Feedback from franchisors is equally important for determining whether the system the franchisor is implementing is still applicable to the current market.
There are several ways to stay in touch with franchisors: online, through newsletters, and meetings – all of which are necessary to facilitate better communication between franchisor and franchisor.
Franchisees are expected to provide training and support to franchisees. The franchise business model requires a system, policies, and principles that franchisees must follow. These should be made clear from the outset in the franchise agreement. Before signing, franchisors should discuss with the franchisor what is written in the contract. Items that may seem vague should be discussed thoroughly.
Likewise, franchisors must conduct training for franchisees and their employees on how the company operates. The franchisor must know what corresponds to how the franchise operates.
People do their best when their efforts are recognized. This also applies to franchisors – they should be commended for the exemplary performance of the particular franchisee.
People who feel valued and valued help promote a positive sense of self-worth. In turn, the person will aim to work more efficiently. It’s not just about high returns. Having a positive attitude towards business attracts more people to the business which leads to more people trusting the brand.
Franchisors must constantly monitor the progress of each franchisee. Visiting each store every now and then will allow the franchisor to determine if each franchisee is doing well, if things are not being followed by agreement, and if there is a need to change how the franchise operates. Remember that as times change, the business must adapt to market needs without changing the franchise culture.
Consistency and commitment are needed for franchisors and franchisors to be successful. The franchise agreement should guide how the business flow should be followed and how the business should operate. Any inconsistencies committed by either the franchisor or the franchisor can cause the relationship to fall apart. This brings us back to number one, which is building mutual trust.
Don’t listen to rumours. As in any relationship, this can mess up the business. Avoid jumping to conclusions if you hear something negative supposedly coming from someone. It is better to talk directly to each other to clear the air to strengthen the working relationship. Franchisors should not be so quick to judge. Check before confronting the franchisor to find out the truth behind the incident that needs your attention.
Conflict between franchisors and franchisors can be prevented if they have the same vision for the business. This is why franchisors should not be in a hurry to choose a franchisor. The characteristics of the franchisee are equally important in expanding the business.
Work ethic is important in franchisees. It affects how they handle responsibilities and take their work seriously. The main reason why an entrepreneur opens his business for franchising is expansion. Choosing the wrong franchisor can result in wasted time, effort, and resources.
The relationship between franchisor and franchisor is strengthened when each one takes their responsibilities seriously. Remember that the franchisor is only half of the business and the performance of each franchisor will determine the success of the brand.
For more information, you can contact Armando “Butz” Bartolome
By e-mail: firstname.lastname@example.org
Facebook page: Butz Bartolome