Getting it right
Phil Mowat of shtons ranchise onsulting on the ctors that mae or rea a franchise ran's success
A
t Ashtons Franchise Consulting we love what we do: helping business owners to
franchise their businesses. But like everything in life, there are those that achieve more versus those that it doesn’t quite happen for. As our clients are brand new
franchisors, our goal is to help them get their first franchisees up and running. But what makes some more successful than others? Of course there are many attributes that set some brand new franchisors apart. Here’s a handy guide:
They have a great looking business: In the modern world buyers are savvy – so much research is done by “customers” before they commit to engaging with a service or product. For a franchisor, their customers are their franchisees, so they must ensure their brand looks first class, the online reputation is being managed and the business is being shown in the best possible light. Without this, some potential franchisees won’t even make an enquiry.
They have a clear plan and focus Business is so much simpler when you have a clear plan of how you will achieve your goals. By focusing only on the step- by-step actions required, brand new franchisors will achieve
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success quicker than if they are making it up as they go along and trying to fit in other things around it.
They test and measure their different marketing strategies Part of the clear plan is setting out how, where, when and with what they will be communicating regards their franchise opportunity.
“Business is so much simpler when you have a clear plan”
Only by trying a range of strategies in an organised manner will lessons will be learned (and of course mistakes made). Once you’ve found a formula, or a combination of things, that work: repeat, repeat, repeat!
They possess a winning mindset Franchising your business is like riding an old-school rollercoaster – you'll experience the highest of highs and the lowest of lows... but have some fun doing it! Therefore, those franchisors that possess a winning mindset and attitude will make it further than those that easily give up.
They have a great team Whilst not all business owners can afford to have a great internal team employed around
them, the modern business world does allow for them to still have great people around them in advisory, mentoring type positions or as freelancer being paid as and when they are required.
“One of the best things you can do in life is to surround yourself with people who are better than you” Warren Buffett
They are clear in their communication about who they are looking for You’re in a lift and you have 30 seconds to tell the person next to you what you do and what you’re looking for. It’s essential to master this succinct “pitch” and make it sound interesting! Practice in front of the mirror and tell it to everyone you meet at the appropriate point in a conversation. Conversations open opportunities.
They have regimented franchise recruitment processes in place Franchisees are joining a system; therefore, franchisors need to ensure that they have excellent systems in place to show potential franchisees how great they are. This starts from the very start as a potential candidate enquires for the first time. A solid franchise recruitment process takes time and skill to develop, as it’s not just an automated lead funnel – the need for a personal touch is also essential.
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