All franchises are different, but one thing they all have in common is that they support their franchisees. That support comes in varying degrees, but by helping their franchisees be successful, the franchisors themselves are successful.
Let’s take a look at some of the support you can expect to get from franchisors. But, keep in mind, not all franchisors will offer all of the following types of support.
Most franchises will help you look for a location to set up shop if the business requires a commercial space. Many have conducted demographics studies to find out which neighbourhoods would be the best to start a business with their brand. Even ones that don’t specifically assist you with finding a location will still give you their opinion on the location you’ve chosen and let you know if they approve of it or not.
Once your location is chosen, franchisors will generally help you with your leasing agreement for the space or, if you’re building from scratch, they’ll help you with the buildout in some way. They’ll give you a format to follow so your location adheres to their branding and they’ll most likely help you procure materials from trusted suppliers for brand consistency.
Some franchisors will help their franchisees procure funding. Sometimes they have deals set up with trusted lenders and other times the franchisors themselves will provide loans, although that is a rarer occurrence. No matter how you are trying to get funding, though, it’s good to have the backing of a franchise so the lender knows you have a head start on your business.
Franchisors know how important a good first impression is, so they will always help with your grand opening. This is something they’ve done before and they’ll know exactly what marketing and promotion to do to get people excited about the new location opening. A franchisor will walk you through promoting the grand opening, getting your location ready for the big day and keeping your momentum up afterward.
Most franchises will have a system set up where you can get personal business coaching. That will likely include frequent check-ins via phone during your first year in business and in-person visits every few months. Franchisors generally have regional representatives who will be assigned with coaching the franchisees in their area. These representatives will offer advice, training and walk you through various processes that you need to be successful.
Not all franchisors offer administrative help, but some will perform mundane office tasks for their franchisees to free up their time. Call centres are a common administrative support element franchisors will provide, particularly for owner/operator franchises where a franchisee is often too busy to talk on the phone. All calls will be channeled through a central call centre and then the orders will be passed along to the appropriate franchisee depending on where the call is coming from.
Franchisors might also help with other administrative tasks such as invoicing or following up with customers.
Franchisors usually have deals in place with trusted suppliers and they can help you buy in bulk together with other franchisees in the system to bring your costs down. Often, franchisors are working behind the scenes to make deals with suppliers to help their franchisees save money. If you find a supplier that is close to you and makes sense for you to use, your franchisor might help you negotiate a deal with them.
Marketing & Promotion
A franchisor will market and promote the brand as a whole and will often have ready-made promotions for special occasions like holidays that franchisees can use. This is in addition to any marketing that a franchisee does for their individual business. Many franchisors are open to suggestions for trying new promotions and if you approach them about trying something, they’ll likely let you go ahead with it if they think it’s worth trying.
It’s common for franchises to have an annual convention where all franchisees get together to hear about how the overall brand is doing, share ideas, get updates on any new initiatives the franchisor is rolling out, celebrate accomplishments and offer each other support. These conventions often have a fun element to them and act as a reward for franchisees’ hard work over the previous year.
When joining a franchise, you can expect a lot of support to help you become successful. FranNet also provides support for you when choosing the right franchise. If you believe you’re ready to take that first step toward business ownership, sign up for a free FranNet franchise search and consultation today.