No doubt franchising is an appealing business model for those who are willing to put in investment in a business. However, for the business to grow, both the franchisor and the franchisee have to work together to form a strong work relationship.
Let’s discuss five keys to a long and strong franchisee/franchisor relationship:
1. Ensure You Research Well
This applies to both the parties. Franchisors will go through extensive research on their prospective franchisee by scrutinizing their financial and personal backgrounds. The franchises UK will carefully assess and evaluate a candidate’s potential and judge is they can bring further success. For the franchisee, it is just as important for them to research and learn as much as they can about the franchise.
2. Open Trust and Communication
In a franchisor/franchisee relationship, trust and clear communication are critical factors to success in running the new franchises UK. Both sides have to share ideas, best practices, feedback, and input. The franchisee is the one in the field. They are able to provide clear and accurate feedback regarding what’s working and what’s not.
Furthermore, they are also able to offer their suggestions for new product innovations or any improvements that can be made. Consecutively, the franchisor will communicate any improvements or changes that will need to be implemented. This will only happen peacefully when there is a relation of open trust and communication between the two sides.
3. Having Access to the Right Tools in order to succeed
As franchisees are purchasing an already successful and well-established business model, it’s essential that they already have the proper systems and tools to reproduce that success. Proper systems and tools such as:
- An initial full training program
- Support materials and training manuals
- Ongoing training
- Operating systems
- Access to the supplier network
- Access to the marketing and advertising programs and materials
- Guidance on staff hiring and training
4. Taking Responsibility
The relationship between a franchise and a franchisee will be fruitful when each side takes their responsibility seriously. The franchisor is responsible for providing every franchisee with the required training and materials, and the necessary systems to succeed. They will also need to ensure they are up with the times in terms of trends, technology, tastes, customers, and systems.
It is also imperative the franchiser understands that the systems and methods they implemented on when they first started franchising might not be practical or successful in this day. Lastly, the franchiser should conduct frequent site evaluations of their low-cost franchises (scheduled or unplanned) to make certain that standards and criteria are being met.
In the same way, the franchisee has some obligations to fulfil. They must comply with the defined systems and training given in order to adhere to operational criterions. They have to hire the right staff and determine the pay structure of the employee. It is the responsibility of the franchisee to provide the franchisor with an accurate and timely report of sales.
5. Execute the Systems With the aim of Commitment to Succeed
Procedures and systems have been put for a reason. The company has established and developed standards that describes the brand to the consumers. The systems are kept in place to make sure those standards are adhered to by the franchise owner. If the franchiser focusses and puts efforts on following that system, chances are the franchisee will also show that level of commitment.
Find the work-life balance you always wanted. Get in touch with Franchise UK for more information on how to become a franchisee.