The Strategies Franchisees Need to Grow Their Business
Being a successful entrepreneur is rarely a matter of luck. It’s most often the result of hard work and being smart about the strategies and services you use to help your business grow. But if you’ve opted into franchise ownership, you shouldn’t have to look far to find help.
Your corporate support team can provide you with resources and guidance in many of the areas that are critical to your success. It’s the job of the franchisor to create a system for its franchise owners to follow and have made the costly mistakes that come with creating a business so you don’t have to. As the franchise owner, it’s your responsibility to apply the tools and techniques given to you to build your business.
Here are some of the crucial areas I encourage my franchisees to focus on while building a successful business:
- Plan Strategically – Success isn’t the result of a random spin of the wheel of fortune. Successful entrepreneurs make a detailed plan and stick to it. Identify your business’s current position, where you want your business to be a year from now, how you’re going to get there and how to deal with anticipated challenges.
- Make Good Hires – Hiring the right people is important to building a successful franchise. Your current staff and even your customers can be good referral sources for finding the right employees. You want to bring in qualified people who also add complementary strengths to others who are already working there. A good hire becomes productive faster and is likely to stay with you longer.
- Create a Positive Culture – Good leaders create cultures that people want to be a part of. Selecting people with the skills you need is important, but you also want people who will be a good fit within the culture you’re trying to build. You want your franchise to reflect your values, so the people you add to your team should share those same values. It should be a place of transparency, trust and commitment, a place where employees feel empowered, valued and are excited to come to work each day. When your employees are happy, your customers are happy.
- Create Outstanding Customer Experiences – Everything you do should be done with the customer in mind. You want to make people feel like they made the right decision to select your business. Be sure to offer numerous opportunities to engage and build great relationships with your customers and within your community. If your customers are pleased with the relationships and service they get from you and your staff, they’re more likely to recommend your business to others.
- Trust Your Advisors – Part of your overall strategy should be building a network of experts you can rely on for support and advice. Take advantage of your franchisor’s reliable corporate support system with experts in real estate, construction, training, operations, finance, business analysis, education, marketing and technology. Having in-house experts a call away is essential to provide business owners the help they need or direct them to a trusted source where you can find it.
- Communication is Key – Good communication skills are the key to success in all aspects of life, including work. This includes being able to effectively communicate with not only your staff, but with your franchisor. When you take the time to acquire and hone good communication skills you open yourself up to better business relationships. You’ll also be able to reach higher levels of mutual understanding and cooperation amongst your colleagues which will allow you to successfully attain your goals.
- Avoid the Status Quo – The common saying “if it’s not broke, don’t fix it” will get an entrepreneur in trouble. When enjoying success, small subtle changes could have large impacts while also preparing your business for the future. This could be anything from training your staff and streamlining your processes to investing in marketing and other smaller projects. Even though it may seem counterintuitive to make these types of investments when your business is booming as a result you’ll be better equipped to handle challenges that may arise in the future.
It takes hard work and determination to keep a business in peak shape it’s important to keep the basics in mind to set your business apart from others. Your franchisor has a tried and true support system to help its franchisees through tough decisions to bolster business and keep franchisees from losing sight of essential business strategies it needs to thrive. When searching for the ideal franchise company to support your entrepreneurial goals, be sure to align with a company that will nurture all aspects of your business, no matter how small.
Jeff Brazier joined the Kiddie Academy franchise development team in 2016. In his role as VP of Franchise Development, he works closely with franchise candidates to guide them through our franchise discovery process. Jeff has over 16 years of business development experience. Brazier began his career in the sports industry, with an emphasis on baseball, where he transitioned into business development. Jeff holds a BS from Towson University and MS from California University of PA.