8 STEPS TO MAKING YOUR FRANCHISE WORK

All successful businesses are built on hard work, drive, energy, ambition and persistence and franchised businesses are no different.

However, if you want to be consistently successful and build a robust business that will stand the test of time then you need more.

IF you are fortunate enough to have the huge advantage of being in a franchise then take advantage of the systems, processes, proven best practice and networking opportunities that are available.

To not do so would be negligent and frankly stupid!

I have eight tips to making your franchise work – and each is a challenge for you.

 

1. Work with the franchisor

Working with the franchisor is a pre-requisite – not because the franchisor is ‘better’ but because the franchisor has skills, experience and knowledge that you do not possess and will have a team of people whose combined years of experience in all business disciplines is worth tapping into.

 

2. Follow the system

Good franchising is a marriage and successful franchising is about building a strong and long-lasting relationship with a solid structure and proven processes.

Working with the franchisor means following the system – a business system that’s been created, developed, augmented, tested and proven to work.

Ignoring the experience of the franchisor is one step towards insanity!

 

3. Keep the franchisor ‘up to the mark’ by challenging their activity and motivation.

Working with the franchisor is not about blind faith and part of the role of franchisees is to challenge the franchisor, to ensure the system is constantly being developed, that new tools are being created and that the franchisor is alert to customer and market changes.

 

4. Market, market, market

I run business to business franchises, and in B2B the most important discipline is marketing, the most important activity is communication, and the most important objective is building relationships.

 In B2B especially it is imperative to constantly market your business, to be ever active and to regularly communicate with customers and to be effective requires structure.

To this end the basis of good and effective B2B marketing is thinking A, B, C, and D.

Awareness – making and keeping people aware of your brand, your business and you..

Business Prospecting – continually re-fill the ‘hopper’ by actively prospecting for new contacts.

Create Brand Value – brand value identifies who you are and what you stand for and for me it means being customer centric, providing value for money, exceeding expectations and earning trust.

Develop Key Accounts – critical in B2B – it is 5-6 times easier to keep a customer than to recruit a new one so creating AND maintaining customer intimacy is essential – but requires hard work.

 

5. Regular communication.

Whilst regular marketing is critical to building a successful business so regular customer communication is crucial, and rest assured whatever you are doing today is not enough!

There are many ways to keep your name in front of customers and you should use the whole range to maintain interest with the customer – from email to letter; awareness postcard to leaflet; catalogue to give-aways to social media and the website.

What about a mug with their details on one side (Sally Smith, coffee black, three sugars) and your contact details on the other? Just a thought! Too analogue? Or simply very personal?

 

6. Get a good accountant and run a cash flow at least every six months!!

More companies (even seemingly successful ones) fail not through lack of profit or the failure of a good idea, but by running out of cash.

I know, I know – finding a good accountant can be like hens’ teeth and by and large I wouldn’t let most accountants run a bath let alone run a business.

HOWEVER, I would pay good money for a good accountant to look after my money because simply MANAGING YOUR CASHFLOW is a MUST.

 

7. Network

Running your own small business can be lonely at times so please attend all company meetings and take the opportunity to listen and learn, to mix and to share not just with the franchisor but more importantly with other franchisees.

Networking is a key part of business these days and whether it is with peer groups, fellow franchisees, or business clubs it is absolute necessary.

If you are nervous about going to a business club or the chamber of commerce or a breakfast meeting group, then talk to your franchisor and ask them to come with you initially so you can seamlessly get into the routine of networking.

 

8. SHOUT!

 As fans of Lulu (for my older readers) would say – JUST SHOUT!

I am a big fan of using PR to amplify and enhance your message and to reach a wider audience – so if you have a good story be it a big job, successful achievement, 1,000 customer, charity gig, a new hire or simply an anniversary then get the message out there and shout about your successes because nobody else will!

 

Right, those are my eight tips for becoming a successful franchisee.

But there is one last tip I would give you:

Be positive, have a passion for the business and have fun!

 

• For your interest I am Chairman of The Bardon Group who own THREE major franchised and licenced brands in the UK.

Recognition Express – the UK’s premier badges, signs and promotional gifts franchise, , Techclean – the leading provider of system hygiene services to businesses in the UK.

Kall Kwik –market leading business print and design operation of its type in the UK.

I am past chairman of the bfa, have written three books on franchising and am now an Honorary Fellow of Lancaster University.