Greetings Franchising Leaders
We hope that this message finds you well as you navigate the recession. A resoundingly consistent message we hear is that it is not ‘not easy’ out there. And while, in situations like this, there are often some aspects of the business that are a positive, or sectors that may be up while the majority are down, I don’t think there are too many enjoying the current environment. But the environment is what it is, these are the times we prepare for, and how one plans, operates and responds will have a large bearing on current and future results.
In our Franchize Bulletin we will walk through some news and insights that will hopefully be of value to your business.
FANZ Webinar – Protect Your Franchise From Invisible Risks
If you have an interest in protecting the value of your current or future franchise system, for you and your franchisees, then you should check out the webinar we planned and conducted with Pete Burdon of Franchise Media Training, in conjunction with FANZ.
A full recording of the webinar is available within the FANZ Member Hub. This is accessible to FANZ Members. If you are not a member, but interested in more information, let us know.
In the webinar we explained the background to risk in a franchise network and how franchising’s natural involvement of multiple locations and a network of independent owners (i.e., franchisees) gives rise to increased potential for risk, as compared to single site company-owned business. As a prospective or established franchisor, you need to be aware of the risks most relevant to your franchise system – and take steps to identify, manage and monitor them.
In the webinar we put particular focus on four key risk areas; however, as we noted, there is also depressingly (as for most businesses) a spectrum including many others. The four areas we focused on included:
- Franchisee Employment Compliance
- Cyber Security
- Franchisee Strategy & Performance
The session talked about what some of these areas could result in, and the types of structures and strategies that could be put in place. I’d urge you, in particular, to focus on the franchisee employment compliance area, as a good example, because it is also an area where the government both strongly suggests a high degree of franchisor focus on ensuring franchisee compliance and makes numerous suggestions impacting franchise agreements, manuals and training, franchisee selection, and franchise support.
I’d also urge you to consider our commentary on franchisee sustainability risk within the Franchisee Strategy & Performance area, as that also highlights the importance of understanding your franchisee financial strength – as well as the robustness of their strategy. Both are really important considerations within the current economic recession.
Pete Burdon then walked through great considerations relating to Crisis Management & Media Policies, and a Crisis Communication Plan. Like above, a little bit of planning can go along way toward reducing a lot of risk – and that all helps protecting the huge effort you’re going to or have put in to developing value within your franchisor and franchisee businesses.
10 Reasons Why Companies Become a Franchise
If you’re wondering why some business owners look to franchise their business, as well as some fundamental first steps associated with exploring and implementing franchising, then you will be interested in our article just published in Franchise New Zealand Magazine.
You might also be interested in another recent article in Franchise New Zealand Magazine called Can I Franchise My Business? Which explains why a proper feasibility study is the most important first step.
Lessons From the USA
I recently attended the International Franchise Association (IFA) Convention in Las Vegas. If you’re interested in my commentary and franchising trends identified from that visit to the USA then you might also check out the article (pages 46-49) entitled Big Lessons from the Big Country in the latest issue of the Franchise New Zealand Magazine. There were also some more personal lessons learnt, including the importance of knowing the speed limit.
Franchise Management Training Update
May and June were really busy for our training programmes with current and future franchising leaders. We ran all four of Franchise Management Training programmes for franchisor executives.
- Field Visit Foundations – online, for field managers
- Improving Franchisee Performance – online, for field managers
- Franchisee Business Planning – online, for field managers
- Managing a Franchise System – two days in-person, in Auckland
We put a lot of effort into the content and running of these programmes and were delighted with the engagement and feedback from attendees. We received great ratings and commentary like the following relating to what attendees found most valuable:
- So many great learnings.
- The knowledge and experience of the presenters, this was outstanding. Their confidence and conviction in how they shared their knowledge, for me was a highlight.
- The course material. Workshops. The detail that the presenters went into.
- The best practice journey for franchising, and so much valuable intel shared. Very grateful.
- I have 3 pages of ‘gold,’ notes that I personally thought were great tips and tricks to refer back to.
- So much to take in. Grateful for the insight into the franchise system and how I can be effective in the delivery of the franchise structure within my role.
National Franchise Conference 2023 – In Christchurch
This really is the go-to event for aspiring and established franchisors and anyone considering or involved in franchising. The conference theme says it all: Meeting the Challenge. Driving Opportunity. There is a really great agenda with some wonderful local and international speakers that you really would not want to miss.
We are also proud to be involved in the agenda, including helping plan and facilitate the Senior Leaders Panel – Franchising Trends & Opportunities: A Leaders Perspective. We are also running a workshop entitled More Effective Franchise Advisory Councils & Franchise System Governance. Check out the FANZ Conference site here.
Survey Your Franchisee Satisfaction
Join the great practices of a number of leading New Zealand franchising companies by having us research franchisee satisfaction. Contact us for more information on what we do, how we tailor surveys and approaches, and how you can leverage results for improved franchisee and franchisor outcomes.
Survey Franchisee Staff Satisfaction
We can also help to monitor your franchise system and employment culture by undertaking Franchise Staff Satisfaction surveys. There are clearly many issues to consider when thinking about franchisee staff surveys in a franchising environment. Contact us for more information.
My last major ride was in the USA, which I touched on in the last Bulletin edition. My next main trip will be riding to the FANZ Conference in Christchurch late August. I’m mostly sorted for that. But like a good franchise, I will complete a full service before embarking on that trip – and know that new tyres and oil are needed.
All the best from myself and the team at Franchize Consultants.
PS: Never hesitate to call. We would love to hear from you.
How can we help you?
Contact us if you’re contemplating franchising a business or would like help with an established franchise network. We’d be very happy to sit down with you to understand your situation and objectives and explain the supporting services we provide.