In this blog, I'll get back to the basics and define the roles and responsibilities of the franchisor and the franchisee within the franchising system. We'll cover the franchisor's role in providing a proven business model as well as the franchisee's part in operating their business under an established brand and how they work together in the world of franchising.
When you are part of a franchise system, as a franchisee achieving success is no easy feat. Your primary objective is to execute the brand model to the best of your ability in the market you operate with the resources you have. The goal is to become an exceptional representative of that brand and deliver excellent value to your local customers. Franchising offers immense opportunities but comes with a unique set of challenges. Many factors, such as experience, knowledge, resources, and support, will influence your success in your franchise. One way to foster growth and success in your franchise is by working with your brand’s support team, typically referred to as a Franchise Business Coach (FBC).
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...
Has shopping for a new franchise opportunity ever given you sticker shock? Especially for owners who are new to franchising - the upfront costs associated with the investment might seem high. After all, the fees are typically much higher than what you’d pay to start your own independent business.
My mother, Flo Francis, passed away last month in December 2021 after a long battle with ovarian cancer. She was a wonderful woman who did a lot with her life - and who experienced a tremendous amount of success in her 85 years.
Do you have a succession plan in place for your business?
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?
The annual IFA convention just came to a close. What an event! #IFA2021
The freedom of owning a business and having more control over your economic future - it’s an appealing and ambitious thought for many people.
John Francis is an enthusiastic, engaging business advisor, and an entertaining public speaker for franchise brands because he speaks from experience and he speaks from the heart. Franchising is in his blood, and his parents were true pioneers in the industry, turning their family haircutting business into a 1,000-salon franchise empire. He has been a franchisee and a franchisor, and has a deep understanding of the issues both face. Engage John as an advisor or to speak at your event, and you and your franchisees will learn how to look at your business in new, positive, and profitable ways.