How To Avoid Franchise Failure
Would you buy a house before seeing it first? Or a car without a test drive? Buying into a Franchise is a big investment. Not only in terms of money but also your time, so it…
Would you buy a house before seeing it first? Or a car without a test drive? Buying into a Franchise is a big investment. Not only in terms of money but also your time, so it…
When you think of a franchisor, what comes to mind?
If you thought professional, enthusiastic, leader, innovative, creative, supportive, motivating – You would be right! As a franchisor you must go above and beyond to encourage your franchisees and inspire their growth and ambition in the business. Working and managing all franchisees with different territories and demands, franchisors find themselves tailoring their relationship based on how to best meet the needs and expectations of their franchise partners.
Here are our 3 pillars which we believe make a Great Franchisor!
As an entrepreneur, you are goal orientated. You set yourself long term aspirations and targets to achieve. There are goals you want to achieve in your business, in your career and in your personal life. At some point in your professional career you may find yourself in a very stagnant position, no matter how hard you’re working.
Hard work has a capacity. Work too much, and you’ll undermine the very skills and talents that can help make you successful. You can’t focus or create when you’re exhausted! It can feel counter-intuitive but reducing your workload can free up the head-space you need to generate the ideas and insights that will help you step up and grow.
It’s time to work smarter not harder.
Today is the day that our Franchise Development Manager Jessica attends the BFA (British Franchise Association) Annual Conference 2019. We are very excited to hear how she gets on, especially as we have been nominated and shortlisted to the final three to win ‘Emerging Franchisor of The Year’ Award!
You’ve decided that you want a different direction in your life and career. You have probably done your homework on what opportunities are out there, so it is likely that you may have come across buying into a franchise and becoming a franchisee. Now, you need to find a franchise and concept that suits your personal and professional requirements and gets you excited. Where do you look to find such opportunities?
Taking the correct steps before looking for a franchise is important because it will allow you to determine if franchising is right for you. Buying a franchise can be a great move for an entrepreneur who doesn’t want to create a new business from scratch. In theory, franchisees gain a model that already works on every level, from branding to pricing to marketing. This means if you do the correct research and work hard, the benefits can be very lucrative!
So, what is important to consider before looking for a franchise?
Many entrepreneurs know of the word franchise, but how many understand how a franchise works? Today we’re taking a deep dive into what makes a franchise and how it works. (more…)
Having a strong workforce that are willing to go above and beyond for you and your company is the foundation which all entrepreneurs and business owners wish they had. We’ve put together our 4 favourite steps to make this happen!
Understanding and fulfilling the needs of customers is a skill which takes many new business owners a while to understand and execute well. Ultimately, these potential customers are the backbone of the company and offer a steady cash flow – being vital to a thriving business.
Today we’re talking about the 4 key areas on how a business can meet the needs of their customers.