Franchising is a very popular business model, with over 78,000 units operating in Canada alone! However, they may not all be doing as well as they could be. If you are in franchising, or considering a franchise for your next step, consider these habits of highly successful franchise owners.
1. Follow the Manual
First and foremost, follow the outline that is given to you! There is a reason it is in there - the process has been tried and tested. Do not try to reinvent the wheel. There is no need to lose valuable time and energy!
2. Take the Advice Given
That is one of the perks of being a franchisee - you have people to rely on! Other franchise owners have done it before so if you need advice, do not hesitate to ask for guidance. See how Concierge Home Services supports its franchisees.
3. Befriend Other Franchisees
We are all in this together! Take the time to get to know the other franchisees. That franchise support circle will come in handy when you need to vent or talk to someone so you can stay grounded.
4. Be Social
Being friendly does not stop with your fellow franchisees! Connecting with customers will create trust and solidify your relationship so they return again and again. This goes for social media as well!
5. Never Stop Working Hard
Franchising has its benefits but that does not mean it is easy. Be prepared to put in the effort. After all, you only get out of it what you put in!
6. Lead by Example
There is no better way for your employees to learn then from you! Set the standard for your company culture. If you go the extra mile for your employees, they will do the same for you.
7. Learn From Your Mistakes
We are human! Mistakes will be made and that is okay - the important part is you learn from them. It also never hurts to expand your knowledge by learning new skills or reading up on best practices.
8. Be Honest
Honesty is always the best policy, and that goes for franchising as well. Even when the going gets tough, it is important to be authentic. Trust needs to be earned but can quickly be lost with dishonesty!