A Franchisor is a unique individual. Starting out as a business owner, a Franchisor will hit a steep learning curve that would leave most business owners breathless. It is so much more than just creating another business, it is creating a framework for multiple businesses to be run successfully by others.
Is it worthwhile?
Initially identifying the opportunity to Franchise is a really interesting path and a number of questions need to be considered:
- Can the business be replicated?
- Can the business be successful in other/multiple locations?
- Is the offering unique to the marketplace?
- Is it relevant for today’s market?
Many businesses owners have the capacity to develop the practical side of the Franchise, however, being a strong leader is as equally important.
A True Leader
Each Franchisee comes with their own personality, skill set, experience and knowledge, and a franchisor needs the ability to nurture, understand, and connect to bring out their best – a true leader.
What constitutes a great leader?
How do you become the leader that your Franchisees need you to be?
How do you take a group of skillful, business driven individuals from diverse backgrounds, and nurture them to create a strong Franchise?
But most of all, what traits and professional ideals do you need to be the Leader that your franchisees need?
Ensure you are all on the same page
A common goal develops a sense of shared purpose that draws people in to do their best and get to where the company needs to be. As a Franchisor, you need to always have a vision for the company and know what all these little pieces need to come together for.
Communicate the vision
Franchisees need to be reminded of the bigger picture regularly and of their part in a much larger vision. Much like the builder who has to see his bricklaying for the role it has in creating a glorious architectural space, your franchisees need to see how vital their work is to the health and future of the brand itself. Don’t hold back on sharing this vision.
Look at the numbers
Keep an eye on the metrics that matter. If you have a firm grasp of the numbers, you will be more well-informed when you need to make decisions. Your franchisees will also be more open to approaching you for advice, knowing you will take into account the realities before you make a move.
Never stop learning and communicating
Cultivate a culture of learning in your franchise. Be a mentor and share your own insights, and encourage franchisees to share their expertise with you. In an environment where learning is encouraged, where franchisees feel that there is an emphasis on their own business growth and professional learning, they are more likely to stick with you and support you in return through thick and thin.
Know when to say no
You may be flooded with ideas and suggestions – sometimes from clients, at other times from mentors, or perhaps even from your own franchisees. Not every good idea needs to be implemented. Always remember what the purpose of your company is, and see if this move will align to your vision. Your steadfast commitment to the long-term vision will inspire confidence among your franchisees.
Get a professional coach
While some skills can be acquired in your role, others take more work and evolution. It would be a great move to take on a business coach. Professional CEO coaches can help you make the most of your strengths and help you battle your weaknesses, so you emerge a stronger, more inspiring leader for your troops.
The last word
- Listen, really listen to your Franchisees (no matter how trivial the subject may seem).
- Be prepared to stay on the learning curve.
- Be open to change and grow your brand.
- Make regular contact with each of your Franchisees.
- Leave your “door open” and be ready to share your experiences
- Be supportive and be ready to encourage your Franchisees to be the best version of themselves.
- Believe the best in your Franchisees.
I would love to hear your experiences in Franchising or perhaps if you are considering developing a Franchise.
Until next time, Belinda