We are inundated with videos and articles extolling what franchisors want in the perfect franchisee, now it’s time to turn the tables.
If current survey results are anything to go by, franchisors are not devoting sufficient time or effort to finding and managing their franchisees. Here are out top five tips for franchisor success:
- Invest in yourself Becoming a good franchisor takes hard work, something you are already doing for your business, so you may feel that you have little spare time left! But investing in your own leadership development will help you reap the management benefits. Look at developing people-salesmanship skills, i.e. the ability not to over-promise and under-deliver in franchise dealings .
- Get management experience You obviously have previous experience of running a business, but perhaps not of managing others who also want to be in charge. But these skills can and should be learned by all franchisors. Often people become franchisees because they want to be the boss - and they’ll need nurturing into taking the lead in running their business. The perfect franchisor will hire franchisees that flourish under their tutelage, so read up on people management or take a quick course.
- Assess your system Your franchise package will assist franchisees not only with the technical skills required by the job, but also the marketing and leadership skills necessary for promoting your products. Assess your own franchise system so that it is robust, easily replicable and that it measures whether individual franchises are right for the business, before you take them on, even if you might be itching to take their franchise fee.
- Mastering control Trying to ride the wave between too much and too little control of franchisees can be tricky. No one wants to stifle creativity. ...unless it starts affecting sales. Most services and branding must be standardised, but work out where individual ingenuity can be utilised by franchisees - encouraging them to invest in your brand.
- Improve your documentation, staff & training If you walk into any Starbucks or McDonald’s around the world you know that you will see comforting similarities. Every franchisee has been given a rigorously documented infrastructure ensuring that franchisees maintain their high standards. A franchise system needs structure and detailed training manuals. Franchisors should clearly state what they will provide in writing, and how they’ll help as the franchisee goes out alone. Your documentation will develop a brand and hiring staff dedicated to the franchising of the business isn’t cheap. But invest in the right managers and they will find the perfect location for your next outlet and negotiate the deal with franchisees, taking weight off your shoulders.
Finally, we believe that good franchisee rapport is an ongoing process. To find out what makes a great franchisee, watch the video below.