Whether you’re a new franchisee who just joined a brand and purchased your first unit or an established multi-unit franchisee with decades of experience, you likely always look for ways to improve your business.
The first version of these 10 tips were written approximately seven years ago. So, what’s changed? Not much - these tips are timeless and apply to all franchisees regardless of experience! Most of these cost nothing or very little, and they’re pretty simple to implement. However, a few require a little initiative, courage, and ambition to put into practice...
Here’s a sneak peek of the first three tips:
1) Become an Active Participant - Fully Engage in the Brand. Attend ALL the brand meetings and conferences, read ALL the corporate office emails, and make sure to attend ALL the conference calls. In other words, you must participate fully in everything the brand and headquarters offer you, take it up you're paying for it already!
2) Connect With Other Franchisees - You’re on the SAME Team. If available, participate in your system’s Franchise Advisory Council (FAC) and franchisee peer groups. Don't have one? ask HQ why and offer to help get them started.
3) Know Your Numbers. Know your numbers, and share them with your franchisor, ask for analysis and benchmarks for comparisons. Share them with other (high-performing) franchisees in the brand, and ask, “help me please, where can I improve?”
This is just a tiny snapshot of the information inside the “New & Improved Top 10 Tips For Franchisees” guide. Click the link below to receive more information on these three tips, PLUS seven more tips that can help you grow your business!
These tips come from my own experience as a franchisor, franchisee, supplier vendor, coach, board member, advisor and consultant. I have worked with 50+ different brands and operators ranging in size & industries. I believe these tips are appropriate for big franchisees, little franchisees, single-unit owners, and multi-unit owners; if you’re a franchisee, these tips can apply to you!
Here’s an idea: to start, select one or two and work on implementing those before you try to tackle the entire list; put them in your own sequence or rank. You will find that some of the tips require you to take action and schedule phone calls or visits, while others suggest shifting your attitude or changing your perspective. Depending on size and structure of your business, industry, relationship with your franchisor, your personality, mindset and how you run your franchise business, some tips will be easier than others.
Please feel free to reach out and share your feedback. I welcome comments and suggestions. If you have ideas to improve or enhance the list, let’s connect and make a list of 10 more tips! I always enjoy connecting with others in franchising.