A supportive, encouraging environment can lead a franchise group to higher profits, improved market share and increased royalties.
Are you treating your franchisees well? Are the culture and support on offer attracting great franchisees?
Franchisors can construct their support systems around the concerns that prove to be most pressing to franchisees, can share key performance measures with franchisees across the network, and encourage franchisees to network with each other and communicate regularly to build their own support system.
5 questions
- Do you have sufficient capital to provide solid and reliable support for your franchisees?
- Are the support staff properly qualified to deliver the standard and type of support you are committed to give the franchisees?
- How experienced are you and your support team in operating franchise units?
- What process do you have to involve franchisees in key decisions?
- Are you focusing enough on human engagement in your network or are you over-reliant on technology?
Consider how much time you are spending on compliance and how much of your attention is devoted to increasing franchisee profits? An ideal situation is to commit a significant focus on the positive aspects of business building, and considerably less time on policing your franchisees.
Of course picking the right franchisees helps that process. But you also need to have a strong model in place in the first place.