Technology – in today’s business marketplace, it is essential that a franchisor embrace the tools and systems available to them from a technology standpoint. With ever-increasing technological capabilities and standards, great technology is available at a fraction of the price for most Franchisors. Franchise Marketing Systems has an array of partners and referrals for literally every element of franchise-related technology.
Professionalism – having spent a great deal of time working with entrepreneurs and working with literally hundreds of small business owners, we have seen our fair share of unprofessional business acumen. It is understandable that most small business people live life on their own terms and have a great deal of pride in what they have accomplished. The tricky element of franchising is that now the business owner will need to be polished, professional and always have their best foot forward when dealing with franchisees. Franchise owners do not have the personality or the conviction that most entrepreneurs do, if they see a crack, they will assume the foundation is crumbling. As a Franchisor, you cannot overlook the “small stuff”.
Creativity – a franchisee is continually reassessing their involvement in a franchise model. It is the never ending question of, “why am I paying for this?” As a franchisor, it is our responsibility to continually answer that question with new ideas, insightful business strategy and a helping hand when needed. The most effective franchise models are ones that are not a “one trick pony”. The business is well developed, has a solid management team, is forward-thinking and provides and unending stream of innovative and out of the box ideas to help the franchisees improve their bottom line and make their daily lives more efficient. McDonald’s is a wonderful example of this being done the right way.
Partnerships – Everyone loves a discount and a “Friend in the Business”. It is a franchisor’s responsibility to find what needs the franchisees have on a regular basis, and then research what resources there are to assist with those needs. This comes by way of strategic partnerships and alliances with outside vendors and companies. If a franchise system is utilizing a large amount of printed materials, the franchisor better find a quality printing partner for example. These partnerships and alliances are great ways to continually add value to the franchisee’s business and will undoubtedly harbor happy and secure franchisees.
Communication – As a big powerful franchisor, it can sometimes be easy to forget about the other side of the coin. A franchisee typically will have a much different perspective on things than the franchisor does. Good franchise management requires looking at scenarios and situations from all angles and taking those into account when making impactful decisions. Good Franchisors are on the phone with their franchisees and have a relationship with them outside of the legal bindings of the UFDD. Never assume that a franchisee is going to be “good to go” for the life of the term because their signature is on the agreement. Picking up the phone is a great way to manage relationships with franchisees.
Franchise Marketing Systems provides guidance and hands-on franchise management services. With over ten years experience working with franchisees directly and managing networks, the Franchise Marketing Systems team provides intuitive and effective franchise management assistance.
Franchise Marketing Systems is a group of franchise marketing specialists who understand and have experience marketing and selling business opportunities to qualified franchise or license partners.