Do you have a succession plan in place for your business?
When I was a franchisor, there were few things as valuable to me as the executive business owner peer group I belonged to - I was a member for more than 25 years! I found the group to be both really valuable and fun, as it gave me the opportunity to share ideas, problem solve and find support among like-minded professionals. It made such a big difference in my career and many of those people are good friends today.
As we’ve talked about in the past, building a positive organizational culture is critical to the success of your franchise business. And while we all know the BIG mistakes that can spell ruin for the business (obviously don’t lie, cheat or steal), there are subtler, but equally dangerous, issues that often trip up franchisors - and can make it challenging for them to build a strong and long-lasting culture in the organization.
Recently, in May 2021, I had the pleasure of attending the 2021 Big Frog Conference in Orlando, Florida. This was my 1st in-person conference since the COVID pandemic hit in March of 2020 and it was great to get back out there again! After more than a year of being stuck online, the in-person connections with handshakes and hugs were welcome.
We’ve all been there. Maybe it’s been a while - but it happens!
How would you describe the relationship between you and your franchisees?
Culture is really important to franchising. It goes along with your organization’s values to drive behavior and impact decisions. It’s there in the communication, respect and attitude of everyone in your organization.
Trust: It takes years to build and seconds to lose.
