3 free franchise tools for new business owners
If you’re considering buying a franchise, you already know the value is in the business structure. But did you know that within that structure, there are a number of free franchise tools that can help new business owners kickstart their operation?
It all comes down to knowing what support and assistance you are entitled to. All franchise models are different; after all, it is a sector that encompasses a wide range of industries; from food, to automotive, to accommodation.
If this is your first time entering the franchise sector, you may feel slightly overwhelmed. It’s natural to feel anxious about a big life-decision, but it is important to remember that you are not alone.
Here’s three free franchise tools that you should make use of when starting a new franchise business.
Franchising as a system can be complex. There are a number of industry-specific regulations and requirements that a new entrant may have never come across before.
If you are having a hard time figuring out what all the jargon means, a great place to start is the Australian Competition and Consumer Commission (ACCC) website.
The government watchdog can provide a wealth of basic information on the rights and regulations of both a franchisee and a franchisor.
It is crucial that you understand what is required of you before entering into any agreement. Know your rights and you can help yourself to stay protected should anything go awry.
Field manager assistance
Once you’ve signed on to a franchise business, the doors are open and customers are flowing through, the real work begins.
Being able to measure your ongoing performance and chat through any potential issues you may have is incredibly valuable, for new franchisees and those who have been operating for years.
This is where the role of a field manager can come in handy. Field managers provide advice, support and encouragement to help new franchisees get off on the right foot, but they are also crucial when times get tough.
Marty Mason, Baker’s Delight regional manager said building a successful relationship with your field manager is one of the most important things a franchisee can do.
“The role of a field manager is designed specifically to support and guide franchisees, so it is vital that franchisees utilise them,” he said.
“It can be very frustrating to field manager when franchisees don’t come to them when they need support. Far too many times I have seen situations escalate out of my control when they could have been resolved quickly and easily by speaking up early.”
Remember, it’s your field manager’s responsibility to guide you, but it is your responsibility to ask them for help.
The single most influential of the free franchise tools for new business owners is the existing network.
Consult with current franchisees prior to signing up and discuss their issues, concerns and positive experiences with the franchisor. This information is critical for determining whether the business is a good fit for you, but moreover, you should keep this relationship going.
Keeping an open line of communication between the franchise network will allow you to circumnavigate issues before they arise.
If you are having trouble with a specific area of operation, chances are, another member of the network has encountered it before. Consult your fellow franchisees and you might be able to develop an effective solution without calling for assistance from your franchisor.
Free franchise tools for new business owners
If you have just started a franchise, you should be aware of the amount of work it entails.
It won’t be smooth sailing, and you will encounter certain issues along the way. The important thing to remember is that there are reasonable solutions for all of them, and many won’t cost you a thing.
Be sure to ask your franchise network for help, consult informative industry website likes Inside Franchise Business and the ACCC, as well as make use of your field manager. A franchise venture is a long-term commitment, it pays to ensure you have the basics down-pat.