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.
You’ve started a single-unit business and it’s going really well. You have a good team, the business is easy to manage and you feel like you have the secret sauce to branch out and start expanding into additional locations as a franchise system.
A good franchise model is built on some obvious things: a repeatable business model, valuable brand, solid business economics and the quality of your training and marketing. These are tangible things that can be measured - you KNOW if they exist, or not.
A few weeks ago we discussed a few of the top ways that franchisees can fail - most of which come down to not staying connected and following the franchise model. Today, we’re going to dive into a few of the key ways that franchisors can fail and hurt the future success of their business, as well as their franchisees.
I was recently asked to participate in the IFA’s Marketing, Operations & Development (MOD) Virtual Conference as a panel discussion moderator. The topic was Making Peer Groups More Effective to Support Franchisees, While Adding Long-Term Value.
Are you afraid to talk about your failures? Most of us are - but whether in business or in life, that’s how you learn and grow!
If you’re a franchisor or multi-unit operator, you’ll want to check out the new article I wrote for LeaseCake. It’s a cautionary tale about what can happen when a busy franchise organization doesn’t have the systems and tools in place to manage their locations effectively - and the important details that can slip through the cracks.