Five Habits of the Highly Successful Franchisor
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.
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.
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.
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.
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.