As you go forward in thinking about expanding your business through franchising, you must look long and hard in the mirror. Although you may have single handedly built the business from the ground up, you are a great manager and your customers and employees love you;
these types of qualities that have made you a successful entrepreneur can work against you as a franchisor.
Part three of our business concept series focuses on your commitment as a franchisor, and providing the training and support needed to help each franchisee succeed.
How can this be? The success that you desire going forward will depend a lot more on your teaching and coaching skills than on your capability of carrying the company on your shoulders.
The franchising model will test your organizational skills. It is necessary to not only create, but to also manage a complex infrastructure. This will happen sooner than normally expected.
If a franchisor is unprepared, a franchise organization can become overwhelming and almost impossible to manage. Things can get out of hand quickly. Tasks such as initial training, site acquisition, field support, coordination of equipment and supplies, printing, and financing arrangements can all lead to a series of big messes.
There is also the matter of integrity. Franchising is not about accepting just anybody that can come up with the money. It is not about providing a little bit of training, handing out a manual, and then sitting back waiting to collect the royalty checks; it is about understanding that you are in a business in which you are expanding your company by carefully selecting owner/operators with at least the same qualifications that you would require to run your own location.
The individuals mentioned will not only manage the businesses, they will own them. They will not be your employees; basically they are your partners. It can be hard to say no, but doing so often can save you from trouble. If you are not prepared to accept only highly qualified applicants, you and those you sell to will fail.
Being a franchisor is much like being a parent. Your responsibility does not end at birth as a mother and father. It only begins there. You will have a lifetime of responsibility to nurture, support, guide, and be involved in the child’s life.
The case is similar of a franchise for at least the term of the franchise agreement. The top franchising companies are those that completely understand the necessity of recruitment, thorough training, and continual support. Executed properly, franchising works for everyone involved: the franchisees, employees, suppliers, customers, and the franchisors.
If you feel you are ready to consider franchising, we invite you to learn more about this form of business expansion through a franchise consultation session with our team of expert Franchise Consultants.
You can also call our office phone 043465000 directly to speak to a Senior Consultant.