6 Tips to Improve Franchise Management and Growth
1. Manage Your Time Efficiently
While you have to do all that is required of you and work together with your team, ensure you address the workflow; however, be thoughtful of the bigger picture. You should attend to the most critical responsibilities and have the ability to tell the right time to move on with other things if something is consuming a lot more time than anticipated. Avoid piling up tasks; if an item on the work-list takes more time, consider working on it later and move on.
Additionally, you can use an automated accounting software such as, Fidesic, to make your business run smoother, keep your franchisees happy, and let your company grow without expanding your accounting department. When used effectively, automated accounting software may save you money and valuable time for your company.
2. Use Direct Communication and Regular Discussions to Tackle Concerns
Ensure that the franchisees don't feel abandoned by contacting them regularly. Additionally, do not let things go silent by sharing the available information as it sets in. To monitor and create discussions, you may set up some social media groups or private forums. However, it would be great for franchisees to feel the ease of having a confidential discussion despite open forums. Furthermore, you have to respond to the franchisees the moment they communicate any concerns.
A quick response will help you avoid the spread of undesirable rumors. Let the existing franchisees have a specific email address and helpline number. By using such a tactic, you are sure of an easier way to monitor and track concerns.
3. Balance Professionalism and Enthusiasm
Generally, it is essential when franchising management displays enthusiasm and unquestionable energy level. Energy is always felt, and its absence causes a detrimental effect. It is important to treat everyone with courtesy and respect. Take quality time to analyze your tone and the language you use when addressing those in your network. Your tone and language should be the same as what you wish to run throughout the business. Your actions and daily conduct will eventually affect your business. Beware of the morale and atmosphere effects as you make those tough decisions.
4. Encourage Conversations and Connect People for Bigger Investments
One way prospective franchisees will use to know if a franchise management system can function is by communicating. Connect prospective franchisees with current ones where they should use that moment to make your business known. Select a list of your confident, reliable, trusted, and top-performing franchisees, and allow some time for conversations to happen.
Persuade them to work on the business growth scheme and then roll it out to the new and the prospective franchisees. Typically, the scheme should have a top profile title; this will allow the existing franchisees to feel the privilege of being part of it. Additionally, it would be best to consider rewarding them as the scheme will consume most of their time.
5. To Promote Understanding, Confidently Present Plans
Hand over clear plans alongside costs and timelines for all marketing procedures and schemes and new training schemes. Visual and graphical presentation makes it easier to note changes as and also the benefits.
Additionally, this will enhance confidence during the implementation period. To help you cover all possible concerns and questions, see to it that you have plans along with franchisees. You may consider publishing these plans on forums. Also, to see the success have them revisited.
6. You Are the Manager, Set the Tone
Bearing in mind that you are also part of your team, ensure that you are focused and active. Let your team (staff) understand that you are all growing the business together. At all times, ensure you convey this tone and let your staff know the type of franchise you wish to achieve.
Generally, the most important factor that will ensure the success of any franchise business is effective management. It would be necessary to fully utilize the entire franchise system value as a business owner. You can achieve this by respecting the brand you subscribed to and following the established ways. Finally, any successful franchisor will always be looking to support you.