4 Common Mistakes First-Time Franchisors Make
The most famous coffee franchises and food franchises such as Starbucks and McDonald’s were not successful in a day. Behind them was careful planning, dedicated time and lots of investment.
Today’s entrepreneur’s may get excited by the idea of franchising as a way to expand and grow their business, but do not prepare fully before starting the journey. Here are mistakes that prospective franchisors should avoid.
Not Keeping It Simple
Most entrepreneurs find it hard to contain their brand’s concept into a simple and understandable idea. Great concepts are the ones that anyone can understand without a whole essay needed to explain them. To be able to define your brand’s message in a maximum of six words is a challenge you can take to make sure your brand is definitive and clear.
Not Investing In Legal Counsel
You cannot build an empire on bad legal advice. Investing in a good legal team can help you build a strong foundation for your franchise as it is essential for your business prospects and growth. For more help read franchise UK’s blog posts on legal advice
Do Not Put Much Time in Educational Resources For Franchisees
Secret sauces are not just limited to food franchises UK, but every business has a USP or a special formula that sets them apart from the rest. A successful franchising network is one that has a consistent standard over all franchises. In order for franchisees to successfully replicate the brand, they will need all the educational resources you have that has made your business successful.
Poor Marketing Plans And Poor Communication
Marketing your business favourably to customers and franchisees alike is what a successful franchisor needs to do. Marketing your franchise on successful avenues such as Franchise UK can help you recruit top-class franchisees and also help to establish you as a franchise. Franchisors should also work with an open mind and heart without getting sentimental about their business, taking in advice by franchisees on improvement possibilities.
Get in touch with Franchise UK for more information on how to become a franchisor or franchisee.