5 Ways to Build Your Franchise Business

Starting a franchise business can be daunting, but trying to strategize for growth is a whole other can of worms! Anybody can start a business, but building it into something great takes hard work, industry experience, and rock-solid best practices. In today’s post, the FranNet team shares 5 ways you can build your franchise business. Read on to learn how to get started and where to go for more information.

  • Have a plan and stick to it. If you want to succeed – or know when you’ve succeeded – having a business plan in place is vital. Without a plan that works toward a final goal, you’ll end up spinning your wheels for years with no real sense of progress or gratification. Likewise, lacking a plan makes expanding your franchise business harder than it has to be. Unfortunately, planning efforts can take a backseat when the obligations of business ownership start to pile up. Sit down with your franchisor and set some short and long-term business goals to work toward. Alternately, this process can begin long before you sign on to any particular franchise: simply give the FranNet team a call to start laying the groundwork for your franchise business success today!
  • Focus on making your customers happy.  Customers are the lifeblood of your company. Let them know exactly how important they are to your franchise business success. Beyond being polite, pleasant and professional during your day-to-day dealings, be sure to give your customers plenty of opportunities to provide feedback, and respond to any complaints or requests they make even when you’re unable to accommodate them. Consider running promotions that “give back” to your core customer base through discounts, reward cards, or other pricing incentives. Remember: when you’re part of a franchise business, you’re representing the brand as a whole, so quality customer service is crucial both for your business and the entire franchise family.
  • Take advantage of all of the tools and training that your franchisor provides. One of the main benefits of starting a franchise business is the training, support and proven processes you get access to. A quality franchise business will have plans and process in place for start-up, opening, and expansion, but the onus is on you to make the most of these resources. As the old saying goes, you can lead a horse to water but you can’t make it drink! Get in touch with your franchisor or another member of your franchise family and see what resources are available to you.
  • Get involved in the community. Donating your time, staff and services to community causes is a great way to grow and business and feel great while you do it. Giving back to your community means supporting local charities, schools, hospitals, veterans and women’s groups, and events. This will not only give you a chance to give back to your community, but will provide many opportunities to advertise and network with potential customers.
  • Network until it hurts! One of the most tried and true ways to trigger franchise business growth is to network with other business professionals. You can join your local chamber of commerce, industry associations, professional organizations, and business owner groups to share ideas and discuss different strategies. FranNet has a number of educational resources and networks we can point you towards.

You can learn more strategies for growing your franchise business by visiting http://frannet.ca/.

About FranNet Canada

FranNet is a 30+ year-old company with roots in the U.S. Its purpose being to nurture every entrepreneur’s dream of business ownership. We actively employ a specific profiling and consultation method. This method is geared to each investor with a specific business model and based on franchise trends typically found in TorontoOntarioVancouverBritish Columbia, or Calgary, Alberta. The most lucrative Canadian franchise opportunities are waiting for you.

Aug 9, 2016