5 of the Most Important Service Providers for Franchisees
Running a franchise demands your time, energy and expertise but you simply can’t do everything. It is important to focus on what you do best and hire in specialist providers to support you in other areas. With the right selection, service providers can become trusted advisors, save you time and help you meet your business objectives. You should, ideally, pay their invoices with a smile.
The 5 Most Important Services Providers that Franchisees Need are:
Here are a few categories of service providers that franchisees need together with some key questions to consider. Regardless of the categories, remember to ask for references from other happy clients before signing on the dotted line.
A good accountant can accomplish much more than bookkeeping, avoiding penalties and producing a set of monthly management accounts. A closer look at properly prepared accounts with your accountant should help you evaluate profitability, monitor expenses and spot trends.
- Will they prepare monthly accounts? A surprising number of small business accountants don’t offer this service.
- What level of customer do they look after? Many accountants are not geared for supporting small businesses, and you’ll soon see this in the fees charged.
Attorneys and Legal Services
No one wants to see their lawyer regularly but it’s probably a good idea to have a trusted legal contact on speed dial.
- How long have you been practicing in this field or area of law? Your legal firm should have commercial law experience, a slant to towards smaller businesses, and ideally some understanding of franchising.
- How do you charge? There are lawyers and there are lawyers that drive Porches. It is important to understand fees upfront before any legal work commences.
Communication Service Providers
Communications service providers include a whole host of suppliers including media, marketing, event services, public relations and advertising agencies. There is such a wide choice here with varying levels of expertise and services – making this a tough but important choice.
- What do they do best? This is a wide field and an expert at promoting a business-to-business franchise may not have the skills for a consumer launch.
- Do they work with a competitor? Working with a competitor is not necessarily a bad thing depending on the industry, but it’s best if you know this information upfront.
|BPD Advertising||Manifesto Media|
Human Resource Services and Solutions
Labour relations issues are complicated and can take your attention away from the business. If you employ a high number of staff, you should consider outsourcing some of your human resources needs and having specialists on call to handle disciplinary matters.
- What services do you offer? This is also a varied field with some specialists handling all aspects of human resources, and others who will defend you at the CCMA.
- What options will you have for reaching them in an emergency such as an on-the-job injury? You need someone who will be there should you need them.
Geographic Information Systems
Geographic information systems provider offer highly specialised services to assist franchisees to determine the correct location for a site. This involves bringing together an understanding of demographics and retail trends. The right site can mean the difference between a good business and a great business.
- What is your methodology? An understanding of the process should give you an indication of how comprehensive their site evaluation process is.
- Who are your clients and how long have they been with you? A long history with blue chip retailers and leading franchise brands should indicate that you’ll be in good hands.
Other Service Providers:
Are you a supplier who works primarily with franchisees and small business owners? Drop us a line to be listed in our directory.
If you would like to be included in our service provider directory please contact:
Natalie Veli on (011) 454 2235