Franchise Support Office Structure Aligned - Best Practice #23 Relevant questions: Is your franchisor team of a size capable of completing all necessary Franchise Support Office functions, activities and tasks? Do you have an over-reliance on one person, who takes responsibility for almost all Franchise Support Office functions and tasks? Has your organisation defined all of the key Franchise Support Office functions, activities and …
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Field Managers as Business Consultants
Field Managers as Business Consultants - Best Practice #22 Relevant questions: What is the purpose for your Field Visits, and are you or your Field Managers capable of fulfilling all necessary roles to achieve it? As a Field Manager, are you focused on driving improved franchisee performance and profit? As a Field Manager, are you comfortable engaging with franchisees on their total business, including the preparation of a …
Clear Field Visit Objectives
Clear Field Visit Objectives - Best Practice #21 Relevant questions: If you are a Field Manager, do you know your specific objective/s for your visits in advance? Do your Field Visit objectives alter throughout the year, or to suit specific needs? Are Field Visit objectives aligned with the business strategy? If you manage multiple Field Managers, are their core objectives aligned to ensure the company is providing co-ordinated …
Franchising Starts 2019 With a Hint of Optimism
Click [here] for a copy of the full report KEY HIGHLIGHTS Franchize Consultants (NZ) Ltd Media Release KEY HIGHLIGHTS The Franchize Consultants’ January 2019 Franchising Confidence Index demonstrates cautious sentiment in some areas whilst neutral in others. • Franchisors sentiment toward general business conditions, whilst still negative, improved to be similar to January 2018 results with Franchisors at net …
Measure and Manage Customer Satisfaction
Measure and Manage Customer Satisfaction - Best Practice #20 Customer satisfaction is critical for business and franchise networks. The importance and logic could not be more clearly stated than by the late Sam Walton, founder of Walmart: “There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.” It follows that measuring customer satisfaction …
Franchise Technology Plan
Franchise Technology Plan - Best Practise #19 Today technology is such a vital and important area today with the power to inform, innovate, improve, power or even disrupt a business – as those in video rental, book retail and photo development businesses would attest. Consider the following technology areas as examples: Accounting, E-Commerce, POS, Analytics, CRM, Apps, Benchmarking, Artificial Intelligence, Augmented Reality, Voice …
Demonstrate Strategic Thinking Leadership Characteristic
Demonstrate Strategic Thinking Leadership Characteristic - Best Practice #18 Great franchisors need to demonstrate a number of important characteristics as part of their leadership. We believe Sound Strategic Thinking is one such critical leadership characteristic – and that franchisors should strive to provide franchisees with confidence in this area. While one could argue strategy and change (given today’s dynamic environment) have never …
Economic Model Review
Economic Model Review - Best Practise #17 A periodic review of a franchise system’s economic model is important – to ensure it is optimal, for both franchisor and franchisees alike, for the future. Examples of key fee areas or sources of revenue under consideration should include: Initial franchise premiums or fees Franchise royalties Wholesale margin and/or supplier rebates Local marketing fees Group marketing fees …
Regular Performance Monitoring and Review Cycle
Regular Perfomance Monitoring and Review Cycle - Best Practice #16 This best practice speaks to the importance of establishing and managing a regular performance monitoring and review cycle. Management thinker Peter Druker famously said “If You Can't Measure It, You Can't Improve It.” What he was understood to mean is that you can't know whether or not you are successful unless success is defined and tracked. The corollary for …
Franchising Right From The Start
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 …