If you have decided to take the plunge into the franchising space, you must have conducted a significant amount of research. Securing financing and signing all the paperwork are the other steps that are part and parcel of starting a franchise business.
Now that you have ventured into this industry, you need to focus on maintaining consistent growth and ensuring that your investment becomes a success. The initial phases of your franchising business can be arduous work. But investing in a business and making it a success from scratch can be extremely rewarding. Most small business owners find that it can be quite challenging to create individual growth strategies for their franchise.
However, this also occurs because most of them overthink it. While it does take some planning and attention to detail to create a good marketing and growth strategy, the overall process isn’t very complicated. Here are some basic rules you can follow:
Steps To Grow Your Franchise
Customer Focus – When you focus on your customers’ preferences and needs, you can create processes, products and methodologies that encourage customer loyalty. It is crucial to keep your customers satisfied. However, building customer loyalty takes much more than that. Everything you do should be centred on delighting your clientele. Put yourself in your customer’s shoes and identify unique ways to connect with them. Going the extra mile will help you create an impact and impress your customers in a highly competitive business landscape.
Be Open To Change – As a franchise, there are certain things that you can offer your customers within the parameters of your franchise network. While keeping this in view, you also need to start thinking about exactly what your customers need and want. Once you get a clear idea about these aspects, adjust your marketing strategy accordingly. This will help improve your conversion levels and take your franchise to the next level.
Hire Excellent Staff – Even if you have an excellent product, you still need to focus on the customer service aspect. It’s where excellent staffing comes into the picture. It’s not just about hiring people to fill in various roles. You need to make sure that you find the best people for different jobs. That is the only way you would be able to reach your business potential and ensure that your franchise runs smoothly.
Many people are tempted to hire close friends and family members to fill in various positions. However, unless they have experience in a specific field, it isn’t a smart choice to hire them. Always focus on hiring people with expertise in the area as they will bring more to the table and help you reach your business goals.
Make Yourself Indispensable – Always aim to provide value to your customers. When you make life easy for them and offer them the services and products they need, they will not head to your competitors. Be available and make sure that working with them is a seamless experience. Regardless of the service or product you provide, be available to them, provide solutions and address issues promptly.
Focus on Retaining Customers – Every business today operates in an increasingly competitive landscape, making it necessary to have an expansion strategy in place. But it is equally important to focus on retaining your customers. It is always easier to maintain clients, and that can help you build your brand identity.
Make every effort to stay in touch with your clients and maintain communication with them via various digital channels. Be judicious while interacting with them and do not try to hard-sell your product. Engage with them on a personal level and show them that you value them.
When you focus on all of these things consistently, you will find that you can reach your business goals much faster. Personalisation and customisation are the aspects that you should prioritise to make a positive impact. If you want to know more, feel free to get in touch with us at The Franchise Institute. You can call us on 1300 855 435 or fill in this contact us form, and we’ll reply as soon as we can.
Thanks for reading, The Franchise Institute Team 1300 855 435