How would you describe the relationship between you and your franchisees?
The freedom of owning a business and having more control over your economic future - it’s an appealing and ambitious thought for many people.
When it comes to starting a new business, purchasing a franchise is just about the safest investment you can make. These organizations are built on a proven system and brand that has been improved and refined over time to produce the best results - for both the franchisor and franchisees. Franchising has many advantages over independent start-ups, however nothing is easy or guaranteed! There is still a lot of hard work that goes into running a franchise business - as well as steps that must be followed if you’re going to get the best results.
As a former franchisor and franchisee for multiple brands, I can tell you with certainty that franchising works - and can create great opportunities for success.
But success is never guaranteed - and there are mistakes that franchisees can make along the way that can hurt their business' growth.
In my latest FranchiseWire article, I discuss four of the most common franchisee mistakes - and how to avoid them. You can check it out here: https://franchisewire.com/
Last month, we dove into the chaos of the COVID-19 CoronaVirus outbreak business shutdown and shared some ideas and tips to help franchise business owners. Much has happened in the past few weeks, and now I want to share ideas on taking steps to get ready for what’s next.