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Franchisees Relate the Art of Franchising

Written on April 4th, 2007 by Joseph in Franchise Industry.

When you embark on franchising, there are many lessons and skills you will soon learn. Running a successful franchise business is a juggling act. It involves managing cash-flow, recruiting staff, opening new branches, branding, training…the list is endless and the task is rather daunting. So how do successful franchise operators survive and thrive? Well, to get you on the right foot early in the process, why not learn from other franchisees’ lessons and advice. After all, they’ve ‘been there, done that’!

Franchisees and franchisors have come out and provided some important information. Here are some aspects, skills, and top business lessons many franchisees have learned. Read and learn:

Build a team

Many franchisees have reported that training not only for owners but also team members is absolutely essential. It is about ensuring that everyone is on the same page and that all team members understand the big picture.

Strive for consistency and reliability

You need an internal procedures manual to ensure that everything is carried out with consistency. Find out every detail of how a certain franchise operates and then write the internal procedures manual so that any team member can open, operate and close the franchise.

Set goals and a clear vision

Decide where you want the business to be in the next 2/3 years and write a business plan that will take you to your destination. Have all team members assist with the business plan and give them a sense of ownership. Write down specific and achievable goals.

Never accept second best

Continue to employ personnel until you have the right team players with the right attitude. Never accept second best just to fill a gap. Be patient and ensure that all applicants fit your requirements 100 %. When advertising employment opportunities, ensure you are attracting the people you want to attract. Be different and think outside the square.

Analyse successes and failures

Have appropriate systems in place to help you monitor the progress of the business, marketing campaigns, internal changes and anything else that moves. You need to determine the critical success factors in your business and also determine the key performance indicators.

Take training seriously

Training ensures that franchisees and staff communicate a uniform message.

Treat your suppliers like partners

It is crucial to have a symbiotic relationship with your suppliers. It must be both profitable and benefit both parties. The fewer the suppliers, the better in time and money.

Keep staff motivated

Successful franchisees are highly motivated individuals. Incentives are very important in getting employees motivated. Reward generously with profit sharing, incentive schemes and commissions. Rewards make people feel valued and build self-esteem.

Understand your customers

Research is expensive and time-consuming but essential to understanding the ever growing needs of the consumer. Understand that it’s more about value to customers than price.

These are just a few lessons franchisees have related. Take in the advice and learn from them.