franchising
Coaching Franchisees To Success in
a Challenging Economy
By Daniel M. Murphy
T
he tough economy has invaded
every aspect of the business
world. The affects of rising gas
prices, food costs and curbing spend-
ing habits among consumers are being
felt in every industry. In franchising,
the softening of the economy is serving
as a loud wake up call to franchisors.
Taking Action
Franchisors have two options: they
can sit back and commiserate with
their peers about lagging system-wide
sales or fewer eager franchise buyers
or they can take proactive steps to
combat the situation. From reading
trade publications and watching televi-
sion coverage, it’s apparent that many
franchisors are indeed taking progres-
sive action, such as cutting production
costs, reducing energy use, utilizing
money-savings coupon promotions to
entice consumers, and taking many regular basis, usually quarterly. They ing program, franchisees are given the
other measures to attract and retain will be able to openly and freely dis- structure, discipline and processes to
their customer base. cuss techniques, problems and solu- improve three essential components:
One additional approach that’s tions with their peers under the guid- their business, themselves as owners
increasingly being implemented by ance of an objective and professional and the quality of their personal lives.
many franchisors is the use of group- coach utilizing a proven coaching In short, franchisees are educated to
oriented business coaching on a sys- process. think and act like strategic business
tem-wide level for their franchisees. Simply put, group-oriented business owners. This is obviously beneficial
Many franchise systems are finding coaching is the art and science of coun- and important for any franchise owner,
that group- business coaching is the seling franchisees to overcome obsta- but especially critical during an eco-
final missing link in the total support cles that keep them from reaching opti- nomic downturn.
and development of helping fran- mal success in business, and satisfac- The use of group-oriented business
chisees become effective, focused and tion in life. It focuses on their growth coaching in a franchise system can
strategic owners of the franchise brand. and development as business owners: accomplish the following:
By implementing a group-oriented, their mindsets, knowledge, skills and square6 Empower franchisees to deter-
strategic-focusing process in their sys- habits. Unlike one-on-one coaching, mine with clarity where they want to
tems, franchisors will be giving fran- this type of coaching is delivered in a go and help them develop a focused
chisees the opportunity to work on group format, it can be less expensive. action plan to get there;
themselves and their businesses on a With a system-wide business coach- square6 Provide them with objective and
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