If you want to become a successful franchisee, there are certain things you need to do. Clearly, some of them need to be done before you sign your franchise agreement. They include choosing the right franchise, doing thorough research, and arranging the right type of financing.
The other things you need to do should happen after you become a franchise owner. In this post, I’m going to share three things that all successful franchise owners do.
Three Things Successful Franchisees Do
1. Connect with other franchisees
One of the most important things you can do is to create good relationships with other franchisees. One of the easiest ways to start this process is to simply call a few of the franchisees you spoke with as part of your research. In this case it doesn’t matter if you visited with them in-person or had a 45-minute phone call. The important part is they already know you. Granted, you may not be able to have meaningful relationships with every franchisee you contact.
Nevertheless, the goal is for you to have two or three franchisees you would feel comfortable calling with any issue that comes up, day or night. Knowing there are other like-minded owners available at the at a moment’s notice is part of what makes franchising so great.
2. Always be marketing
Today’s franchisees need to do a lot of marketing. One of your goals (as a franchisee) is to make sure your business stays top of mind in your local area. You’ll be doing local advertising, social media marketing, co-op marketing with your franchisor, and more. But there are several other things you can do to keep your name out there. Like:
- High school sports sponsorships
- Local festival participation
- Charity events
- Educational seminars
- Business shows
The trick is to always be doing something that will remind people what your business does, where it’s located, and how it can serve them.
3. Follow and use the system
All franchise businesses have a business system. It’s part of what you pay for when you become a franchisee.Simply put, this system provides everything you need to properly operate your franchise business. Like:
- An operating manual
- Marketing/advertising templates
If you want to become a successful franchise owner, you need to leverage every component of the system. In addition, it’s crucial for you to follow procedures. The procedures set forth by the franchisor are put in place to maintain brand consistency across the board, and there’s no wiggle-room. Of course, you knew that going in, because you took the time to learn all you could about franchising well before you started your search for the right one.
To be sure, there are things you can do to increase your chances of success. It’s up to you to make use of them, so you can become the proud owner of a successful franchise business.