Are you doing everything you can to avoid failure in building your franchise system?
Looking back on my decades of experience in the franchise industry, I believe there is one thing that contributed to my success more than anything else: my participation in a business owners’ mastermind group.
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.
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.
People matter - we know that. Nothing has been more obvious in my career than the fact that people make all the difference.
What do you remember most about your first job?
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.
