Nov 15, 2018
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Creating a successful franchise takes hard work, dedication, and being willing to take a risk. Most franchisors embody these characteristics, which is why they are able to convert their business into a brand. Most franchisors are business savvy and know how to network, but certain traits can make a franchisor not just great to invest in, but also great to work with.
Being a Great Listener
A franchisor who takes the time to listen and learn from their franchisees will be able to improve their business practices and the experience of their franchisees. Franchisees provide valuable insight about the day to day operations of stores, and a franchisor should be willing to listen to improvements. Franchisors who are easy to approach will enjoy a better relationship with their franchisees and employees.
Creating a Positive Work Environment
Every couple of years, it seems that reports will come out about the harsh corporate environment of big-name companies like Apple or Netflix. Employees will tell stories about the competitive culture, the demanding bosses and long hours. Everyone has experienced stress at work, but some companies tend to foster a negative work environment outside of the daily stress of the job. A Franchisor who goes out of their way to create a positive work environment will motivate their employees and Franchisees to want to work for them, and want to do a great job as well.
Open Communication
Whether a company has 10 units or 100 units, open communication is the most important aspect of creating a successful brand. Whenever changes need to be made, new products need to be launched, or new rules need to be implemented, it is important to stay ahead of the curve and discuss everything with your franchisees early so as not create false rumors or spread misinformation. No one likes being taken off guard, so being as honest and open as possible with Franchisees is the best course of action to take.
Strong Leadership
Creating a franchise business requires decision making and perseverance, and a Franchisor ’s leadership choices should reflect that. Being the head of a company can be daunting, with everyone looking to you to make the next move, but being confident in your abilities will show others that they should follow your lead and trust your judgment.
The relationship between a Franchisor and a Franchisee can sometimes be rocky, but anything can be improved over time. Being the best Franchisor means that you are willing to listen to others, have great communication skills and create an awesome work environment that encourages people to want to invest in your brand. Striving to be the best Franchisor, or leader, is a personal goal that everyone can always strive for.