Five Habits of the Highly Successful Franchisor

Faegre Baker Daniels is committed to the growth and development of franchise networks in a wide range of industries. In partnering with our clients over the years, we have seen the attributes associated with highly successful franchisors and understand the business practices that lead to great franchise brands. Adopting and refining each of these Five Habits will enhance your franchise system’s success and sustainability.

Habit 1: Maintain an undying devotion to the brand.

Understand what you want your brand to represent. Make a commitment to ensure the best possible customer experience – and deliver on it. A company’s ability to deliver what it promises is fundamental to its brand and reputation.

Explore the 2017 Franchise Summit presentation on this habit.

Habit 2: Balance interests of franchisor, franchisee and system as a whole.

Achieving balance requires a working relationship built on trust, structure and compliance between franchisor and franchisee. The successful franchisor establishes a culture of voluntary compliance with system standards (the rules), but vigorously enforces compliance by errant franchisees.

Explore the 2017 Franchise Summit presentation on this habit.

Habit 3: Stack the deck with “ace” franchisees.

Developing and implementing a process focused on recruiting and retaining high quality franchisees is essential to the success of the franchise system. Understand that franchise sales/recruiting is a separate business from your operational business.

Explore the 2017 Franchise Summit presentation on this habit.

Habit 4: Obsess over the franchisee’s bottom line.

Successful franchisees make successful franchisors. Franchisee buy-in and bottom line success benefit the franchise system as a whole. Everything the franchisor does must be driven by an obsession with the franchisee’s bottom line.

Explore the 2017 Franchise Summit presentation on this habit.

Habit 5: Empower franchisees.

Create a culture of collaboration and shared decision-making. Support franchisees and give them the tools to develop and meet their goals within the system’s framework.

Explore the 2017 Franchise Summit presentation on this habit.

Franchise Summit
Franchise Summit
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