Due diligence calls for serious attention to concept economics, leadership, product offering and the franchise disclosure document.
The relationship between the franchisor and franchisees within a system is greater than any normal business relationship you would have with a supplier or a business account. The franchisor-franchisee relationship is much like a marriage.
Strategic alliances may be worth the investment to increase brand coverage in today’s competitive environment.
These seven evidence-based principles, if properly understood and implemented, will definitely create a positive foundation for creating healthier, more productive franchise relations.
An understanding of these “sins” will allow franchisors to spot them as they arise.
The keys to great franchisee engagement are clear — address their questions, provide ample opportunity for significant peertopeer discussions, as well as access to system management.
Attendees are again expecting an experience with their conferences beyond just content dissemination.
Social selling begins and ends with listening. As technology has advanced, social media has become a mainstream form of communication and education. Franchise candidates are educating themselves much earlier in the decision process than in years past, no doubt in part because information has become so accessible through the Internet.
For many franchisees, the prospect of putting together a local marketing campaign can be daunting.
For obvious reasons, alignment between the mutual needs of the franchisor and franchisee are critical to an enduring and healthy relationship. Hopefully franchise candidates who chose franchising as their preferred means to enter entrepreneurship already have a strong appreciation for the value and equity of partnerships.