Franchising Right From The Start - Best Practise #15 Franchising is a long-term business strategy, from the franchisor and franchisee perspective. Both parties are bound by a long-term contractual agreement, meaning early decisions on the nature of the franchise structure go on to have long-term consequences. For some companies assessing franchising properly in the first place means they don’t franchise at all. For others that do …
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Regular Action Planning
Regular Action Planning - Best Practice #14 Franchise systems are complex organisations where active Action Planning throughout is much needed, and for many reasons. Not least, franchisors and franchisees have obligations and performance standards relating to one another - that need to be met. Franchise systems are the perfect environment where there is a need to get a whole lot of stuff done, involving multiple people, departments and …
Good Franchisor Presentation Skills
Good Franchisor Presentation Skills - Best Practice #13 Using conferences as a case in point, we note the importance of franchisor staff presenting well. We have been involved in numerous conferences and have seen a wide variation in abilities, including from some very senior business people. The difference in presentation skills really can mean the difference between a …
Present & Discuss Benchmarking Results
Present & Discuss Benchmarking Results - Best Practice #12 Many franchising companies will benchmark certain areas of the franchisee’s business. They may benchmark a little, for example. just sales results, or they may benchmark a lot - covering a multitude of sales, sales composition, labour, gross profit, expense areas and have a wide range of productivity and profitability metrics. Customer satisfaction indicators should be and often …
Long-Term Brand Positioning
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 …
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 …