Everyone likes to receive gifts at Christmas and franchisees are no different. When you are a franchise owner, there are certain gifts that you can expect to get from your franchisor and the best part is that you get them throughout the year.
Let’s take a look at some of these gifts.
Nearly every franchise hosts some kind of annual get together for its franchisees where you can meet your fellow brand representatives, swap ideas, revel in the past year’s accomplishments, find out what is in store for the coming year and maybe even relax a little and let loose.
Many franchises will hold these annual conventions in nice, warm climates that allow franchisees to have a little fun so the conventions are like little mini-vacations.
Franchisors are only as successful as their franchisees, so it is in their best interests to make sure those franchisees are properly trained. Some franchises that are in industries that involve specialized training have even taken the step of building their own training centres that act like mini-universities, teaching you both classroom elements like business administration and practical field work in mock ups of houses or stores.
In the interests of ongoing training, franchisors will usually have some kind of system to help you train your employees — such as online videos and training modules — and they will often augment your training when necessary to make sure it is always up-to-date.
Increased Buying Power
Everyone knows it is best to buy in bulk if you want to save money. Often, franchisors will arrange for several of their franchisees to buy supplies in a larger order than if they were to order those supplies on their own. This gives franchisees increased buying power and increased savings.
Sometimes, rather than bulk buying power, franchisors will have arrangements with specific suppliers to give franchisees special deals regardless of whether they are buying in bulk or just buying for themselves. Either way, it is the gift of savings passed from franchisor to franchisee.
While it is ultimately up to the franchisee where to set up shop, franchisors will always be happy to lend a hand in the selection process. They will usually have some insight into what type of neighbourhood works best for their particular brand. Some will even have detailed demographic data of neighbourhoods throughout your community so you can pick your location with pinpoint accuracy and give yourself the best chance of success.
Once you have a location, a franchisor will help you with your lease agreement. They often have professionals who can negotiate the best lease option on behalf of their franchisees. And locations are not the only thing you will get help with leasing. If your franchise business requires you to get a vehicle or requires you to get specialized equipment, your franchisor will work with you to get the best possible leasing deal for those. They’ve helped many other franchisees get started this same way so they know what works.
Christmas is the time of giving and franchisors are more than willing to share their expertise and resources with their franchisees to help with the overall success of the entire franchising brand. We here at FranNet also love to give the gift of our expertise, which is why we are offering our FranNet franchise search and consultation to you free exclusively for this month! (Just kidding, it’s always free.) We love getting entrepreneurs connected to the perfect franchising fit for them so they can realize their dreams of Canadian small business ownership.