Too often, the relationship between a franchisor and a franchisee is characterized as a passing of the baton: Once the franchisee opens for business, the franchisor retreats from the spotlight and leaves the fledgling franchisee to run the rest of the race on their own.
This approach is shortsighted and detrimental to both parties. The relationship between a franchisor and franchisee does not end once the doors open. On the contrary, it's just getting started!
If the two parties consider the franchise sale to be the end of the relationship, they're sacrificing long-term growth and putting both their profits in jeopardy. The franchisor and franchisee have a shared objective and overlapping stakes at play - one party's successes (or failures) dictate the other's. Successful franchisees are often happy franchisees, which in turn leads to happy staff and customers.
A proactive, closely involved franchisor is one of the best assets a franchisee can have. That said, a prosperous, team-oriented franchisee is the single best asset a franchisor can have. Unless this relationship is nurtured in both the short and long term, neither party can hope to succeed.
At my trampoline park franchise, for instance, we have a franchise development team consisting of experts in operations, construction, IT, marketing, and training who are highly engaged and available to franchisees every step of the way, from the time the franchisee signs the agreement to opening day and beyond. This sets the franchisee up for long-term success and sets the stage for an ongoing, productive relationship.
There's plenty a supportive franchisor can do to help a new franchisee get through the uncertain early days of opening a business.
Even if it's successful in its earliest days, a franchise will still require ongoing franchisor support to continue growing revenue and boosting brand awareness.
It takes a lot to nurture a single franchise. That's why it's so important not to treat ongoing support like a burden, but to view it as an opportunity to maximize success. Franchisors who make supporting their franchisees a priority, and approach that support in a systematic way, put everyone's best interests front and center.
A targeted, quarterly magazine that takes CEO's, VPs and Sales Executives to the cutting edge of franchise development.