The power of community is something that, in a post-pandemic world, is as evident as ever – and the feeling of supporting others is just as rewarding in business as it is anywhere else. One of the undeniable benefits of franchising is the access to a community of like-minded peers who can support you at any stage of your journey – whether that’s after you’ve signed on the dotted line…or even before.
For prospects, the value of speaking with existing business owners operating within the brand or field you’re exploring comes with a whole host of benefits. And once you’re set up in your new business, taking the time to speak with your fellow franchisees can only benefit operations. Here, Diane Vesey, Director of Franchise Development for fitness franchise, Body Fit Training (BFT), runs through the benefits of speaking with other franchisees in your network – no matter the stage of your franchising journey.
The benefits of open communication – for prospects
Speaking with existing franchisees before making the decision to invest in a brand puts you at an almost immediate advantage when doing your due diligence – quite simply because you may find you’re offered a more realistic view of what to expect as you run your franchise. You’ll generally find that, once you start speaking with a franchisor, they will offer to put you in touch with at least one franchisee – but generally you should expect an introduction to more than that. I would recommend always taking them up on this offer – and talk to as many as you realistically can.
Here’s why.
Real-world insights
Current franchisees can provide honest, firsthand experiences about the day-to-day operations, challenges, and rewards. This gives you a clearer picture beyond what the franchisor presents.
Confirmation of fit
By understanding the experiences of others, you can better assess whether the franchise aligns with your personal goals, skills, and lifestyle. If several franchisees express satisfaction and success, it may indicate a good fit for you as well.
Understanding of daily role
If you’re planning on investing in a franchise where you will operate the business, you’ll want to take the time to speak with existing owner-operators to find out what a typical day might look like – how they structure it and how many team members they have to support in the operations, for instance. For anyone looking to invest in more of a management model style franchise, you’ll want to speak to existing franchisees who operate their business like this. And if you aspire to own more than one location or franchise, take the time to speak with multi-unit owners.
Assessing franchisor support
By talking to multiple franchisees, you can gauge the level of support and training provided by the franchisor. Are they responsive and helpful? Do they provide adequate resources for marketing, training and problem-solving?
Evaluating brand reputation
Franchisees can share insights on the brand’s reputation among customers and in the industry. A strong brand can drive business, while a tarnished one can hurt your investment.
Identifying common challenges
Franchisees often face similar challenges. Learning about these in advance – whether they relate to staffing, marketing, or supply chain issues – can help you prepare and develop strategies to overcome them.
Building a network
Speaking with other franchisees helps you start building relationships within the franchise community. This network can be invaluable for ongoing support, sharing best practices, and staying updated on industry trends.
Avoiding mistakes
Experienced franchisees can offer advice on what to do – and what to avoid – during the startup phase and beyond. This can save you time, money, and frustration.
The benefits of open communication – for franchisees
And once you’ve signed on the dotted line, becoming an active member of your own community is as crucial as ever. Although you are now a business owner in your own right, it is the part you play in upholding the standards of your brand that will benefit your business. As well as having access to a captive group of peers that can celebrate your achievements, you’ll have someone to bounce ideas off of and, in some cases, work collaboratively with.
Here’s why playing an active part in your franchise network comes with a whole host of – relatively unlimited! – perks.
Learning from others
Fellow franchisees have firsthand experience with the same business model, brand, and operational challenges. They can offer valuable insights and tips with proven results.
Avoiding mistakes
By discussing common pitfalls, you can avoid making the same mistakes that others have made, saving time and money.
Adapting to local markets
Understanding how others have adapted to local market conditions can help you tailor your approach for better results.
Collaborative marketing
In some cases, franchisees in the same region may be able to collaborate on local marketing campaigns, which can reduce costs and increase reach.
Resource sharing
Franchisees can share resources, such as employees, equipment, or suppliers, which can lead to cost savings and increased efficiency.
Expansion advice
If you’re considering expanding your franchise, fellow franchisees who have already done so can provide guidance on what to expect and how to prepare.
Mentorship
More experienced franchisees can mentor newer ones, helping them navigate the early stages of franchise ownership. A quality franchisor will even support in setting you up with a buddy or mentor that you can call on for support.
Staying informed
Franchisees often discuss trends in the industry or changes in consumer behaviour, which can help you stay ahead of the curve and adjust your business strategy accordingly.
Sense of belonging
Regular interaction with fellow franchisees fosters a sense of community and belonging, which can increase job satisfaction and commitment to the brand. At BFT, we often find that our franchisees refer to feeling like they’re part of a team, or collective ‘party’ – where they’re unified by a common goal and values. I think this encapsulates this sense of belonging.
Collective success
A successful franchise network benefits everyone, and by supporting each other, franchisees can contribute to the overall success of the brand.
