4 Habits of Successful Franchisees

Mar 9, 2017 | General

Hundreds of incredible franchise opportunities exist in Canada, but regardless of how strong a system you find, the onus is on you to do what’s required to be successful. 

In today’s post, we discuss 4 habits of successful franchisees. Whether you are still researching opportunities or own a franchise already, knowing these habits will come in handy!

 

  • Ensure collegiality between franchisee and franchisor. Franchise relationships are most rewarding when the franchisee and franchisor are on the same page, cooperating and collaborating to the best of their abilities. One of the best ways to ensure that this collegiality exists is through a commitment to two-way communication. Make sure that you keep your franchisor apprised of major decisions made at your individual location, and make the effort to stay involved with what’s going on at head office, too. Some franchise systems offer special communication channels to keep in touch, but a simple email or phone call every so often will do.
  • Get involved with your franchise family. Communication should not be limited to franchisee and franchisor; making an effort to reach out to fellow franchisees is always a good idea. In fact, one of the greatest benefits of deciding to own a franchise is that you get instant access to a ready-made network of peers. As a result, you will never have to worry about the challenges your business may face, because someone will likely have faced (and solved) the same problem before.

    Remember to balance the give and take in your relationship with the franchise family. Volunteering your thoughts, ideas, and opinions to the franchisor or via the advisory council is an excellent way to contribute to the development of your brand. Taking an active role in this way also creates more opportunities to meet fellow franchisees and advance your education.

  • Stay active on the front lines. When you own a franchise, it’s important to maintain an active role in the daily operations. This not only allows you to learn nuanced details about the day-to-day process but also gives you a simple way to save money on staffing, which is invaluable in the early going. Furthermore, staying active on the front lines lets you get to know your staff, which will make it much easier to manage from afar if you choose to put your business into cruise control down the line.

    This habit is not for everyone, of course. Some people aren’t content to own a franchise, preferring to manage several locations at once as a multi-unit owner. These individuals will spend more time handling large-scale operations, though stopping in to get their hands dirty at a nearby location is never a bad thing!

  • Put a primacy on consistency. Consistency with products and services is a hallmark of franchising. It’s what the consumer looks for, and what makes the system work on a whole. Talking to other franchisees, reviewing franchise operational systems regularly, and staying active in the daily duties of your location are all great ways to prioritize consistency with your franchise.

    That said, if you’ve got a great idea that falls outside of your franchise’s playbook, don’t feel like you need to forget it – just don’t implement it on your own, especially without permission. Instead, put those open lines of communication between franchisee and franchisor to use, using appropriate channels to run your ideas by head office. Your idea could benefit the entire franchise family!

 

Find more tips for franchise success or book a free consultation with a member of our team by visiting http://www.frannet.ca!

 

About FranNet Canada

FranNet is a 29-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 CalgaryAlberta. The most lucrative Canadian franchise opportunities are waiting for you. For more details visit – http://frannet.ca/buy-a-franchise/canada-franchise-buying-process/