There are a whole host of reasons why people invest in a franchise, whether it’s the opportunity to make a difference to your life or the lives of others, give back to your local community or create a successful business for your family’s future.
There are a whole host of reasons why people invest in a franchise, whether it’s the opportunity to make a difference to your life or the lives of others, give back to your local community or create a successful business for your family’s future. Whilst all of these are real reasons why individuals choose franchising, there’s a prevalent underlying factor for franchisees’ success – having other franchisees by your side. Being part of a national, or even international, network offers so many benefits in many different ways.
The most obvious advantage is having a network there for support. Not only do they become your first port of call before approaching HQ for answers, but they also provide you with a sounding board to bounce ideas off. It offers a great space for creativity, inspiration and motivation to keep every franchisee on a similar path. It’s a healthy environment to discuss common issues or problems you might be facing as, chances are, there will be someone, somewhere, who has dealt with the same thing.
However, it isn’t just business support that fellow franchisees can help with. They’re there for your emotional wellbeing too. In a similar vein to the point above, any feelings have also more than likely been felt the network over, which is something you’ll be able to draw from. If you’re suffering with a lack of motivation or generally feel under the weather, the network can help you shake it off.
Another benefit of being part of a larger network is the increase in brand recognition. And by that, I don’t just mean on a national scale. If you’re operating in close proximity with neighbouring franchisees, which is quite likely in an established brand, customers across the area will recognise your name. It might not necessarily convert into paying customers for your own business (more on that later), but it means you won’t have to do as much advertising as your standalone counterparts. Marketing is crucial yet perhaps also the most challenging part for new businesses, so by having the name already on a customer’s radar, you’ll be one step ahead of your competitors.
Now, jumping back to the point about a customer conversion not going in your favour. This is certainly nothing to worry too much about because franchisees get to celebrate shared success. There’s an increased chance of people hearing about your business through word of mouth – therefore any successful PR campaigns or news stories can benefit those around you at the same time. Your territory is a specific area, but news and positivity know no boundaries, meaning there are no limits to how far success stories can reach.
And let’s be honest… who doesn’t love a good spot of competition? Whilst it’s more cooperative than competitive between a network of franchisees, there are always benchmarks to pin your performance against and targets for you to strive towards. You’ll receive motivation and inspiration from the rest of the network’s success. Again, it’s that success which can be shared and celebrated throughout the entire network as you’re all working to achieve the same goal.
At Tutor Doctor, we pride ourselves on the camaraderie with franchisees – not just in the UK, but on a global scale. As the brand begins to grow at an increasing rate across the country, this is something that helps both existing and new franchisees alike. Joining this shared journey provides a great atmosphere to thrive, whilst the rise in demand for tuition services offers an exciting opportunity to build a lucrative business. Whilst I’d like to take the credit for the UK's success, it really is down to the network of franchisees for their commitment, determination and passion to help make Tutor Doctor what it is today in the UK.
Fellow franchisees are part of your journey right from the very beginning – from your due diligence to your franchise training, and throughout the life of your business. There are many ways for prospects to take advantage of this experience and wealth of knowledge to bolster their own franchise success – I’ve just got one question: what are you waiting for?