03 Jun Franchise Support: How Important Is It?
When franchising your business, the strong support you provide to your franchisees can be a great selling point that can help you expand your business. There are a number of reasons why investors choose to go with a franchise instead of an original business, and the franchise support is one of the chief reasons.
Benefits from Having Franchise Support
Instead of building an independent business from scratch and doing things all by themselves, prospective franchisees would prefer to buy a business where everything is already laid out for them. What’s more they want to buy a business where they know that they will receive encouragement, guidance, support and training to help them grow the business. They don’t want to struggle to learn the ropes of operating the business single-handedly. What they want is a mentor and an excellent support system to help them every step of the way.
The type of support from franchisors that franchisees want include: induction and ongoing training, on-site or on the job help, branch visits, conventions, and newsletters. The type of support provided varies across different industries but the bottom line is, franchisees look for franchise advice that will guide them in several areas, with operations and marketing being the two most important.
More than Just Selling a Franchise
Franchising is more than just licensing your company name and business system to other individuals or groups. If you treat franchising as more than just selling a franchise and look at it as helping others to succeed through your business, you will reap the rewards. With a strong support system, franchisees will feel that they are part of a bigger community and will become more dedicated and confident, which in turn will lead to more successful franchisees. Through this system, both the franchisee and franchisor reap the positive effects of franchise support. The more you realise this, the more your franchise will grow.
At The Franchise Institute, we will assist you in how to franchise your business to ensure franchisees are well supported within your business system. Call us now to discuss your business and opportunities for franchising.