Though most franchisors are skilled business people with extensive experience in their chosen sector, those who haven’t run a franchise before can find dealing with a franchise network and all of the demands that it brings a challenge.
From working with franchisees to developing and building your business, franchisors need to be able to communicate, innovate and speculate if they want to succeed.
As a solid and reliable group of franchisees can make a huge difference to the potential of a business, it’s incredibly important that franchisors put time and effort into developing their network. Though it may take up valuable time, following these tips and working on your business relationships could make the difference between success or failure.
Most franchisors provide a certain level of training to franchisees at the start of their business partnership.
However, if a franchisor wants to solidify this relationship and ensure that standards don’t slip after a few years of business, they need to provide on going training that’s relevant, exciting and inspiring.
Not only will training help to improve franchisees’ knowledge of the brand and its working practices, it will make them feel more included, valued and loyal to the franchise.
Annual or bi-annual conferences give franchisees the chance to air their grievances, suggest improvements to the franchise and discuss any innovations or developments that are relevant to the business.
Conferences can last anywhere from a day to week and are an important part of building and managing a franchise network.
To improve communication even further, franchisors should consider building an online forum where their franchisees can quickly and easily post comments or make suggestions.
Less formal than a conference, forums help to ensure that issues are aired quickly and that any problems are dealt with as soon as possible.
Franchisees who like to push the boundaries, do things their own way and try out new technologies and initiatives can be difficult for franchisors to deal with.
Instead of fighting them, try to include them in any innovations or updates you’re planning for your business. These confident entrepreneurs will often be fantastic early adopters of new ideas, giving you the chance to try out your ideas on energetic and enthusiastic franchisees.
Targets are a good way of getting your franchisees motivated and keeping them committed.
The more goals and incentives you create, the more likely your franchisees will be to work with their employees to grow their businesses, earning money for you in the process. Make sure that you publicly recognise any franchisees who hit their targets and perform well as this will give them something to be proud of and give your other franchisees something to aim for.
Though managing a franchise network isn’t easy, by putting in a bit of time, energy and thought, you can create a strong, dynamic network that will keep performing year after year.
I hope you have found this of interest & use. However, if you require more assistance to get the interest of potential franchisees, we recommend filling out the form below with some basic contact information, and we will put you in touch with experienced franchise consultants recommended by Franchise UK.