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 Association plays a vital role in establishing, developing and protecting franchising standards. In New Zealand, all members are required to adhere to a specific Code of Practice and Code of Ethics.
There are numerous reasons why joining your country’s Franchise Association is so important.
As a franchisor you are the master of two businesses not one. One speaks to the business model focused on delivering your value proposition to your end-consumer/customer. The other is the business model focused on attracting, managing and developing your franchise territories. That second aspect happens to be just as (if not more) complex and nuanced – given the legal and management infrastructure involved, and franchisor-franchisee relationship. For that reason, Franchise Associations are at the hub of you better understanding franchising best practice – as Franchise Associations typically have 100s of franchisor members (like you) all willing to share their many challenges and insights.
Franchise Associations also provide access to Service Providers, be they consultants, lawyers, accountants, brokers, publishers, technology companies and so on, that are more experienced in supporting and advising franchising businesses due to their multiple experiences – and, importantly, regular involvement in Franchise Association activities.
Franchise Associations also offer educational and networking events. In New Zealand, the principle event is the annual, two-day national franchising conference (which has a huge array of guest speakers ranging from case studies to franchising trends and best practices), workshops and roundtables (featuring specific topics optimised for experienced franchisors) and networking and sharing activities. Those conferences are typically the only time when you will conveniently be able to listen to, meet and talk with key franchising players. For that reason, you will find many companies and advisors consecutively attending all conferences – some for more than 20 years.
These events, in New Zealand, like most countries, are complimented by monthly breakfast or evening functions, and regional events with an educational focus – and include that continued ability to network with other franchisors, franchisees, and service providers.
Critically, membership of your country’s Franchise Association also helps that Franchise Association to help you better represent franchising to government and to the public. That helps not only promote the franchising business model, but also protect the franchising business model.
From our consulting and training experience we comment that those companies that join Franchise Associations, and get involved in attending events, and involve operations staff, are much more knowledgeable and better placed to support franchisees growing their businesses, make necessary adaptations, and develop a valuable and sustainable franchisor business.
About the Franchising Best Practice 500 Series
This is part of a series of franchising best practices. Franchize Consultants is sharing and publishing these best practices weekly for the betterment of franchising. We know that better knowledge and execution of franchising best practices leads to bigger and more valuable franchisor and franchisee businesses.