Long-Term Brand Positioning - Best Practice #11 Many people think of franchise systems as marketing machines. Yet many franchising companies do not have a clear brand positioning strategy and struggle to gain franchisee engagement and confidence in both brand and marketing execution. Issues often manifest in group marketing fund discussions where, to franchisees, decisions maybe questioned, planning appears short-term, and reporting maybe …
Resources & News
Got a question that can’t wait? Give us a call, we’re happy to have an informal chat 09 523 3858.
Join Your Franchise Association
Join your Franchise Association - Best Practice #10 As a franchisor you should be a member of your local Franchise Association, for the benefit of your franchisees, the franchising business model and, as a by-product, the long-term value and sustainability of your own business. Joining your country’s Franchise Association is especially important in self-regulated countries like New Zealand, where (among other functions) the Franchise …
Group Marketing Fund Reporting
Group Marketing Fund Reporting - Best Practice #9 I will never forget a small franchise network’s conference when the marketing report was delivered and discussed. The report covered the opening balance, the income and expenditure, and the closing balance. Basically, the fund received and spent $150,000 in the same year. The expenditure was explained: $50,000 on radio $50,000 on Google Ads $50,000 on print advertising The …
Franchisor Business Sentiment Challenging
Click [here] for a copy of the full report KEY HIGHLIGHTS The Franchize Consultants’ October 2018 Franchising Confidence Index continues to suggest a challenging outlook, as perceived by responding franchisors. Franchisors’ sentiment towards general business conditions dropped, after lifting very slightly last quarter, from net negative 9% to net negative 22%. Service Providers sentiment showed a mirror effect dipping …
Comprehensive Franchisor Business Plan
Comprehensive Franchisor Business Plan - Best Practice #8 A franchisor needs to have a comprehensive ‘Franchisor’ Business Plan. A Franchisor Business Plan is different from a conventional Business Plan because there are a number of additional and unique elements associated with being a franchising company. Think of the need to consider the following: Franchisee performance and its importance and potential contribution to the …
Consistent Field Visit Visitation
Consistent Field Visit Visitation - Best Practice #7 Field visits are an important part of a franchisor’s communication, support and development plan. Within this plan, established franchisees should receive a consistent level of field visit visitation. We identify the concept of consistency in terms of visitation, because it is not unheard of for us to observe field visit frequency based more on close proximity and friendliness (coupled …
Franchisee Business Planning
Franchisee Business Planning - Best Practice #6 We regard franchisee business planning as a critical franchise system management process and it is a process with references in many Franchise Agreements. Yet, not many franchisors encourage or engage in comprehensive franchisee business planning with all of their franchisees. In other best practice points we talk about a Leadership Focus on Franchisee Profit. Franchisee Business Planning is …
Comprehensive Franchise Advisory Council Constitution
Comprehensive Franchise Advisory Council Constitution - Best Practice # 5 Franchise Advisory Councils (FACs) are an important communication form and mechanism for developing a co-operative franchise relationship. Operating well, FACs can strongly contribute to good franchise relations and an advancing business model for franchisor and franchisees alike. FACs, however, often vary in their effectiveness from both a franchisor and franchisee …
Regular Franchisee Satisfaction Surveys
Regular Franchisee Satisfaction Surveys - Best Practice # 4 It is important for a franchisor to know how franchisees feel individually and collectively. This is important because franchisee satisfaction has the power to help build or destroy a franchise system, depending on whether it is positive or negative. Much should be done throughout the year in personal interactions and otherwise to know where franchisees are at. But nothing …
A Common Chart of Accounts for Franchisees
A Common Chart of Accounts for Franchisees - Best Practice #3 Franchise systems need a common basis for understanding and comparing franchisee performance. A common Chart of Accounts is essential for these activities. A common Chart of Accounts is referring to the practice of having the same account breakdown for all revenue, expense, asset, liability and equity items. This practice should also extend to other financial and …