7 Keys for Creating Satisfied Franchisees - and System Growth
By: By Steve Olson | 36 Shares 1,414 Reads
Build franchisee satisfaction and you'll build faster system growth at reduced costs, attracting more quality buyers through franchise owner and customer referrals. It's a simple message, but not that easy to execute. Aggressive start-ups that dazzle buyers with smoke and mirrors pay dearly. Selling sizzle without the steak burns right back. Here are 7 key development tips for growth:
Build strong relationships and mutual respect with your franchise partners. Monitor your customer service, training, and operations departments to ensure they are working side by side with owners, not across the table from them. Keep them happy, demonstrate you care, and you both win.
Identify and profile your successful owners. You'll grow your organization with better-performing franchisees and minimize poor candidate choices. Using more intelligent qualification and selection tools will reap greater payoffs for you and your franchise partners.
Develop an exit program for those unhappy franchisees who continue to struggle in your business. Work with them to help sell their operations, providing guidance to best prepare for the transition. Taking proactive steps increases the opportunities to remedy difficult situations and avoids the inevitable conflicts that result from taking no action at all.
Understand the life cycles a franchisee experiences and teach your staff how to lead effectively in responsive, productive ways that keep your owners in tune with your system's policies and procedures.
Create a brand culture that embraces all levels of the organization, from CEO to employees and customers. It can be the "X factor" that sets you above your competitors.
Recognize and reward your franchisees openly for their contributions and achievements through conventions, meetings, newsletters, and personal correspondence. Special appreciation from the top when you're working hard in the daily trenches counts more than you think.
Ask your franchisees to rate your performance in support services, products, and commitment to help them achieve their professional and personal goals. Periodic surveys and polling will sharpen your franchise programs and improve your connection with your revenue-producing franchise partners.
This is an excerpt from my Amazon.com best-selling book, "Grow to Greatness: How to build a world-class franchise system faster." To order copies, click here.
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