According to the IFA, increased use of technology across the franchise industry is helping business owners improve bottom line and build better brand equity. The Internet plays a critical role in the success of a franchise. Many franchisors use the Internet to communicate with franchise owners and suppliers – and to share critical information and expertise. The Internet is also a great place [...]
There is one thing that separates those who succeed from those that fail. To successfully expand as a franchise, you must fix the foundation of your house first!
So you’re getting ready to franchise your business? Hold your horses. Before you embark on the franchising journey, getting your house in order is important. The more solid the foundation of your house, the more interesting your [...]
"In the rush to adopt new and exciting technologies, franchise businesses risk overlooking one of their most powerful assets."
Today a franchise intranet is rightly regarded as a necessity. This can result in web properties being taken for granted, as new social platforms and mobile opportunities are prioritised. Understandably, it can be hard to focus on internal processes, when customers [...]
So you have taken the decision to franchise your business. What’s next? Once you take the decision to franchise, building a solid foundation is critical. You can’t build a franchise on a foundation of sand. And it’s not just about financing and legal matters. Also consider your new responsibilities as a knowledge provider: establishing processes, providing training and guidelines, and ensuring [...]
What's your new year’s resolution? To improve the relationship with your franchisees? Not a bad idea. I’ve written previously that 50% of Franchise Master Licensees are not satisfied with ongoing support from the Franchisors and want help to perform better. There are a few low hanging fruits that you can pick immediately to help improve the relationship with your franchisees, while helping [...]
In a recent post, I discussed what prospective franchisees look for in a franchise. With a score of 6.7 out of 10, “Franchise Training and support” ranked second only to “potential earnings” as the most important item considered by a franchisee when evaluating a franchise. So it’s surprising how many franchisors are making no promises to provide franchisees with any support or assistance [...]
According to a recent study by Franchise Mind Corp., 50% of Franchise Master Licensees are not satisfied with ongoing support from the Franchisors and want help to perform better. Here are three critical findings:
Whether you are operating a franchise spa, tanning salon franchise, or a restaurant franchise, a properly written franchise manual will help you outperform competition. But having a digital franchise manual is not the same as slamming a PDF document on your intranet. A franchise manual is a living document that should be easy to read, and easy to apply in real life. In other words, everything a [...]
Just recently we had the pleasure of entering an agreement with Renholdssoner, a leading Norwegian franchise in the cleaning industry. The company decided it was time to implement our franchise software platform. A media announcement hit the wire just today. "We wanted to partner with some that would bring not only expertise in technical environments and system integration, but also a deep [...]
Investing in a franchise is a big step, and with so many franchise packages to choose from, prospects want to make sure they're making the right decision. I came across a recent study of what franchisees considered the most important when evaluating a franchise opportunity. Here are the results in ranked order: