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Unannounced field visits can be a valuable tool for both franchisor and franchisees, albeit franchisees are less likely to see the positive side of an unannounced visit when it involves them. The key here is that the unannounced field visit or a surprise field visit should not be an unexpected field visit, with the inference …
It is important franchisees comply with all laws. Compliance with employment law is particularly critical. Employment law is especially important because it involves people, one of the organisation\’s most important assets – if not the most important asset. Employment law compliance also speaks to basic human rights, and ensuring people receive their legal entitlements (as …
Anyone considering buying a franchise business should complete a pre- entry training programme, provided free of charge in many countries. In New Zealand, a free pre-entry training programme is provided online by the Franchise Association of New Zealand (FANZ). The programme covers many important areas critical to potential franchisees, like understanding franchising, the money side, …
Franchisors need a governance structure that befits their situation and plans. And franchisors need good governance, as 1) franchise companies are naturally complex businesses to lead and manage, and 2) all companies face an increasingly dynamic operating environment. Good governance according to New Zealand’s Institute of Directors helps a company: Franchisors have a spectrum of …
Franchisors should have a formal franchise recruitment process, a process that is adhered to with all potential franchisee candidates. That doesn’t mean all candidates will pass through all phases of the process, but it does mean that key steps are practiced in the right sequence to ensure a robust recruitment process. A formal recruitment process …
Franchisors need regular access to franchisee financials so they can understand how franchisees are doing and how the unit-level business model performs in different situations. Access to timely franchisee financials is also critical so that a franchisor can tailor support for individual franchisees. Other important reasons include a franchisors ability to monitor performance and set …
Best practice field visit management means not only a structured agenda with clear objectives, but an agenda that is mutually agreed by the field manager and franchisee in advance of a visit. An agreed field visit agenda is beneficial and important for many simple reasons, not least: An agreed field visit agenda in advance should …
If you have a desire to be competitive in your market, and with your franchising programme, then you will certainly benefit and learn from the process of entering franchising awards. In New Zealand, franchising awards are open to franchisors and franchisees, and there are both sector and supreme awards. Furthermore, there are awards for the …
The world of business and franchising is changing rapidly. Accordingly, in our experience, franchising companies benefit strongly from a periodic franchise system review. Based on our experience, franchise system reviews have provided participating companies an important opportunity to put a stake in the ground and then move forward; taking stock of the situation and performance …
Franchisee tenure is an important reflection of franchise system health and franchisee satisfaction. If franchisee tenure is short, particularly compared with similar businesses, this is clearly important to know. Short tenure is challenging for a franchise system because: Overall franchise system growth is constrained (as well as the benefits associated with economies of scale), as …
Franchisors operate in two business arenas. First is the business that came first; namely the business associated with finding and satisfying customers – and all that entails from a resource, value proposition, profit formula and process standpoint. Second, is the business of franchising which, while integrating with, and enabling the first, introduces its own factors …
Our research conducting comprehensive Franchise System Reviews and work with many franchisors, suggests an often-great opportunity to clarify the purpose of a field visitation programme. In turn, this helps create a platform for a more effective field visit programme – for the benefit of franchisors, franchisees, and field managers (themselves). Historically, it used to be …