Whether your franchise is reasonably small or conquering the market, there is always room for growth! Business growth may not necessarily come quickly, but with a little hard work, you can stimulate natural growth and take over the market! Without further ado, let’s look at how to grow your franchise.
The very first thing you need to do to grow your franchise, is develop the perfect business model. Your model needs to be strong, clear and easy to communicate to your franchisees. Ask yourself:
These questions can help you develop a strong model and also decide whether franchising is actually right for you or whether you need to adjust.
In order for your franchise to be successful, you need to have good relationships with your franchisees. The franchisees need to be able to operate autonomously, however they still need your support. Ensure your franchise network is tight knit and that franchisees can lean on each other for guidance and support. Additionally, make sure you treat your franchisees as your most important customers. You need their happiness and confidence in the franchise to grow the business. Without the success of your franchise owners, you can’t have a successful business.
Don't force growth! Make sure growth is a natural progression and that it is manageable. Taking on lots of investors and moving to lots of locations may be attractive, but forcing it when you aren’t ready can lead to disaster! You don’t want to damage your brand, so make sure you’re growing at an organic rate.
Ensure your franchisees have the ability to succeed! By providing them with the right training and resources, you're giving them (and your business) the best shot at success. Make sure your policies and procedures have all the information they need and are highly accessible. Don’t forget to enrol all franchisees in relevant and regular training too! For help with this, check out Work and Learn Central.
Keeping the brand consistent is going to be an important goal for your business, however there needs to be a balance between the brand and the local establishment. You don’t want to be fighting against the location! Consider whether the location of the latest franchise is right for you. Does your brand fit into the community? Can you incorporate some of the local flair while still staying on brand? Always consider the location when growing your business and how you can have the most successful franchise in that particular location.
You now know that your franchisees are your most valuable customers, but don’t forget about the actual customers! You simply can’t grow your business successfully without making customer service your top priority. Ensure all franchisees and their staff are well versed in the art of the service. Take a look at an earlier blog of ours on how to be a customer service superhero for help with this and then wait for those (hopefully) outstanding customer reviews.
As a franchisor, business growth is always top of mind. However, business growth can’t be forced. It can be encouraged by putting in place some franchise strategies and with some hard work. With our franchise growth tips, you’re on your way to steady and manageable growth. To really put your best foot forward for your expanding franchise, take a look at Connect Central, or book a live demo today!