15 Things You Need to Consider to be a Happy, Successful Franchisee
1. Determine if franchising is for you, weigh up the pros and cons of being a Franchisee as opposed to starting your own business.
Do you prefer to have full control over your business and not be restricted or do you work better with a support structure and guidelines?
Read more about the Pros and Cons of buying a Franchise VS starting your own business
2. Understand your role as a franchisee and remain focused on it
A Franchisee looks after the day to day running while the Franchisor looks after strategy and long-term planning. Know that you don’t have to worry about things like strategy of the business and planning far ahead. You can get focused on making sure your franchise is up, running and successful by making sure it is owner operated every day.
3. Franchising works with a win: win situation, where the Franchisor and Franchisee are successful.
Successful franchise relationships are built on mutual respect. A franchisee is selectively recruited by a franchisor and are then trained on how to run their franchise business successfully.
The franchisor provides extensive support to assist franchisees. Franchisors also conduct regular field visits and hold events such as conferences, regional meetings, franchise councils and additional communication platforms. Franchisees should make use of the support that franchisors offer to show willingness to make the relationship a successful one.
A franchise concept needs to be profitable to both parties to make the relationship sustainable.
Franchisors can rely on you for effective feedback on customer needs, data, trends etc. Franchisors and Franchisees need one another to ensure growth and success of the franchise network.
4. You need to be a ‘team player’, franchising works because of the power of the collective, all pulling together.
Even though you are a franchisee with your own business, there’s an entire support structure and team behind it all. It’s always good to know you are in a business for yourself but not by yourself.
Treat the Franchisor as part of your team and welcome their involvement and help.
5. You must embrace and implement the network rules and procedures
As a franchisee, being part of a developed, tried, and tested model, you would need to comply with the strategic changes made over time as they wouldn’t be made without careful consideration and informed decisions.
You will be required to work and run your business according to the operations and procedure manual. As a Franchisee you can’t just make changes or introduce new products or services, however, you can recommend these to the Franchisor for consideration.
It is necessary to understand what the business model, operations, process, and rules entail before investing in the franchise so that you are happy with the way the business is operated and you don’t run into any uncalled-for situations.
6. You need to be proactive as positivity breeds success
Franchisees need to be driven and motivated; this is important to a franchise and its employees as it reaps positivity and helps achieve personal goals and job satisfaction. Discouraged franchisees give off a bad vibe and an impression is given to their consumers that doesn’t shed any positivity the brand.
7. You need to uphold ethics, it is especially important that you are honest and transparent, at all times.
As a franchisee, you would need to represent your facts accurately, communicate clearly and openly about everything. It is highly necessary to demonstrate ethical behaviour towards your franchisor and fellow franchisees.
8. Don’t resent the franchise fees you need to pay.
The franchise fees create a win: win situation for both the franchisee and franchisor. These fees get you up and running for success, initially and ongoing.
9. Represent the brand with pride. Be proud to be associated with the brand!
If not, why not? If you don’t have pride in your brand, then why would you have invested in it? There should be excitement and a buzz about building something special for yourself.
10. Participate fully in all training and make sure your staff do as well.
Training is so important to ensure you confirm to and meet the brand standards. You can never have enough training. As operations and procedures evolve with new technologies and trends, everyone needs to keep up to date.
11. Marketing is as an investment, not an expense – spend money on local marketing.
Local marketing is at the Franchisee’s expense, the marketing fee you pay the Franchisor is for national marketing. Use this opportunity to stand out in your local community.
12. Offer superior customer service! Referrals are the best form of advertising. Make sure your customers are regulars.
This goes without saying. If you have happy customers, then you have the best database of free advertising.
13. Aim for perfection – set out to be the best Franchisee in the group. Strive for service excellence, consistently.
This shouldn’t be a competition but treat it as a learning experience. Find out what other franchisees are doing right and build on that.
14. Accept constructive criticism – Often a franchisee can become store blind and need a third party to print out your inefficiencies.
Be sure to listen attentively and with acceptance as the criticism is not to benefit anyone but you, the franchisee. Acknowledge other point of views and don’t become defensive. Follow up with positive action and take initiative.
15. Communication with the franchisor and staff, as we know it, is key!
Be a good communicator with the Franchisor and your staff. Be clear with your concerns and your ideas. Look after your staff, they are your “crown jewels” – pay them well, motivate them and train them because they interface with your customers.
Successful franchising is all about the RELATIONSHIP between the Franchisor and Franchisee. Like in all relationships, they need to be worked on.
Now that you are ready to select a franchise, click here to start your journey.