If you’ve been watching any of my videos and reading my articles, by now you know that I’m a franchise matchmaker. I help people figure out what the right business is for them, and one of the common questions I get is, “Gary, put me in touch with a good franchisor. I really want to be part of a great franchise system.”
I’d like to talk about what makes a great franchisor. Just like in corporate North America, there are great companies, good companies, and not-so-good companies. The same is true in franchising: there are great franchisors, good franchisors, and franchisors that struggle.
Solid Systems and Processes
The first thing I want you to think about in terms of a great franchise is that they have built solid systems and processes. These evolve through the experiences of all the franchisees, the bubbling up of best practices, and harvesting the collective knowledge of what has worked and what has not. Over time, the system is optimized to help franchisees succeed.
Great franchisors consistently look at how and what to innovate, optimize, and evolve their systems, ensuring that the focus remains on helping their franchisees build stronger businesses.
Coaching and Ongoing Support
Another key element is ongoing coaching and support. You receive the initial guidance needed to get up and running and to learn the business. Then, once you move from competency to proficiency, great franchisors provide continued coaching to help you become better at running the business, and, in some cases, to help your staff run better businesses.
At higher levels, franchisors also offer additional support, such as field coaching and advanced resources, to help you take the business to the next level if that’s your goal.
Building a Strong Culture
I believe one of the most important aspects of a great franchise system is the culture. A strong franchisor-to-franchisee culture helps you create the right environment with your staff and customers. Most importantly, a strong franchisee-to-franchisee culture is critical because newer franchisees get to learn from more seasoned franchisees; this culture fosters the sharing of information across the franchise family, so you can continue to learn and grow together.
It truly becomes a very tight-knit family culture. You can’t choose your biological family, but you can choose your business family. That’s why it’s important to look for a franchisor that embodies these cultural values.
If you want to learn more about great franchisors and explore what might be a great franchise for you, let’s have a call. Book now.
