How much is your franchisor helping you?
Yes, they may have helped you set up your franchise in the beginning. They may have even kept in touch regularly while you were learning the ropes. But are they still helping out now that it’s up and running?
Over the years we’ve worked with people from both sides of the franchising model. And we’ve learned that successful franchisees get help from their franchisor long after the business has been established.
Here are six things every franchisor should provide no matter what stage your franchise is at:
1. Guidance and Direction. As you probably know, one of the main reasons people buy into a franchise group is for guidance and direction. So no matter what stage you’re at as a franchisor (but especially if you’re a first-time business owner), your franchisor should:
○ help with business plans
○ provide ongoing training
○ give performance reviews
○ offer advice when needed.
Your franchisor should be the leader you want to follow, not the boss you try to avoid.
2. Regular communication. The communication line between you and your franchisor should always be open. They should be there for you whenever you have a need, or even just a question. And they should also be coming to you regularly to see how you’re travelling, what issues you’re facing, and whether you need any help.
3. Flexibility. While most aspects of a franchise have to remain the same (after all, it’s partly what makes a franchise successful), there needs to be a little bit of flexibility when assessing their performance. For example, we’ve seen instances where a rural franchise owner had the same expectations put on them as a metropolitan franchise owner, which is hardly fair. Your franchisor needs to work with you to get the most out of the business.
4. Innovation and Change. Even franchises need to change and develop over time. There’s a saying in business that “If you’re not moving forward, you’re moving back”. And it’s just as true when it comes to franchises. Your franchisor should always be looking for improvements, opportunities and efficiencies to keep the brand at the forefront of the industry. If they don’t, their business (and yours) could quickly fade into obscurity.
5. Continual training and development. The better you are at running your business, the better it is not just for you but also your franchisor. So they should always be helping you become a better business owner.
6. Culture. Whenever you have a group of people working together, having a working environment with good culture is vital. And a franchise is no different. In fact, one of the greatest strengths of the franchise model is having a group of like-minded business people working together to achieve similar goals. And it’s something your franchisor should be working hard to promote and nurture.
Whether you’re part of a franchise or thinking about joining one, if you’d like to talk about your options then get in touch with us today.