The Value of Franchise Communities

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“You never know the value of a Community until you are part of it – Brad Sugars”

Over the last 10 years I have often been asked the following questions?

Where does the value lie within a Franchise model?

Why don’t I just do this on my own?

The value in any Franchise concept is found in the proven products and services, the systems that have been set up, the branding, new product development opportunities to name but a few.

At a higher level, the value in any franchise system lies in leveraging all that is available within the franchise.  This would come in the form of leveraging IT systems, the Company’s brand, industry knowledge, new product development opportunities, procurement opportunities, training as well any other systems that have put into place to achieve value opportunities for Franchise partners.

One of the most overlooked benefits of buying into a Franchise system is the value derived from the broader franchise community.  For most franchise partners, buying into a franchise system is their first foray into business ownership and as they have discovered it can be lonely at times.

Franchisors need to ensure that they build opportunities for all the Franchise partners to get together on a regular basis, so that Franchise partners can leverage off the knowledge and experience of franchise partners that have been within the system for a while and know what it takes to be successful.

Matters for discussion at these meetings should include some of the following:

  1.  A review of your Franchise Culture or Values.
  2. Discussions around how the entire team can contribute towards addressing the challenges within the Franchises system.  Commitment to working together as a team in critical in order for this to be a success.
  3. Training and on-going support from Head Office is very important. Ensure that you build in time for “experienced” Franchise partners to share their own experience in building their businesses within the franchise system.  This gives everyone “line of sight” into what is possible within the business.
  4. Implement support mechanisms for all franchise partners with due recognition of the fact that Multi-Unit Franchise and single unit franchise partners will need different levels of support.
  5. Conferences, whether these are regional, national or international provide Franchise partners the opportunity to build a network of contacts in different regions.  This is where the sense of Community can really be nurtured to the benefit of the Franchise system.
  6. Celebrating success at all levels and opportunities.
  7. Critical non-essentials – CNE’s.  This is often the area that often gets overlooked.  Ideas here include celebrating anniversaries, birthdays, major events within families etc.
  8. Client and Supplier days.  Use as many opportunities as possible for your clients and suppliers to attend your conferences or Franchise events.  This can be done at Franchise partner levels as well as national level and gives clients and suppliers as real sense of belonging and commitment to your Vision and Values.
  9. Use Social media wherever possible to communicate and celebrate success within the franchise system.

The ideas above are an example of what needs to be addressed if you are wanting to create a sense of community and add value to your Franchise network.

img1Source: Pieter Scholtzwww.actioncoach.co.za

 

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