It goes without saying that working with the franchisor is a pre-requisite – not because the franchisor is ‘better’ but because they have skills, experience and knowledge which you don’t possess. In short, good franchising is a marriage, and successful franchising means a strong and long-lasting marriage with a solid structure and proven processes.
It also means following the system – a business system that’s been created, developed, augmented, tested and proven to work. You would be insane not to follow it and simply mad not to embrace it.
Don’t adopt blind faith or blind loyalty
But this doesn’t mean adopting blind faith or blind loyalty. Part of the role of a franchisee is to challenge the franchisor, to ensure the system is constantly being developed and evolving, so that new tools, protocols and processes are being created. That means the franchisee must keep the franchisor on their toes and alert to customer and market changes.
I run business to business franchises, and in B2B the most important activity is marketing. To this end a clear tip and probably the most important tip is to constantly market the business, to be ever active and to regularly communicate with customers. Effective marketing also requires structure.
Make people aware of your brand
Making and keeping people aware of your brand, your business and yourself is an on-going exercise which needs to be vigorously pursued from day one. You need to continually re-fill the ‘hopper’ with new prospects by implementing regular and proven ‘prospecting’ activity to get new contacts.
Create Brand Value
Brand value identifies who you are and what you stand for. For franchisors and franchisees, brand value means being customer centric, providing value for money, exceeding expectations and earning trust. Keep to these values and espouse them when talking to clients and they will stand you and your business in good stead.
Develop Key Accounts:
In B2B particularly, this is critical. It is five or six times easier to keep a customer than to recruit a new one. But saying it and doing it are two completely different things. Creating and maintaining customer intimacy requires hard work and is the key to building a successful company.
While regular marketing is critical to building a successful business, so is regular communication with customers. Rest assured; whatever you are doing today it is probably not enough.
In today’s world there are many ways to keep your name in front of customers and you should be open to using the entire range.
Yes, old fashioned ‘hard’ mailings such as an email letter/poster or perhaps an awareness postcard or maybe a leaflet, still have their place. You may even give away a product catalogue.
What about a mug with personal details on one side (such as Sally Smith, coffee black, three sugars) and then your contact details on the other? Available from all good Recognition Express franchisees! See that. I’ve even managed to publicise one of my own franchises.
And of course, there is the whole plethora of social media channels that you can, and should make use of – with LinkedIn I still believe it to be the most appropriate in the B2B marketplace.
Regular communication with your customers
More companies (even seemingly successful ones) fail not through lack of profit or a good idea, but by running out of cash. Managing your cash flow is a must.
Obviously, I would not let most accountants run a bath, let alone a business, but I would pay good money for an experienced accountant to look after my money.
Running your own small business can be lonely at times, so please attend meetings and take the opportunity to listen and learn. It’s important to mix with others in the same position as you.
Networking is a key part of business these days and whether it is with peer groups, fellow franchisees or business clubs, it is definitely both necessary and rewarding.
Using PR to enhance your message
Finally, I am a big fan of using PR to enhance the message and to reach a wider audience. So, if you have a good story to tell, be it a big job, successful achievement, 1,000th customer, charity gig, or simply an anniversary, then get the message out there. Shout about your successes, because nobody else will.
Those of us who run our own businesses are ultimately in a very fortunate position. Yes, it can be hard work, yes, we take all the responsibility for the business, for our staff, for the cost base and for ensuring we deliver on time and every time.
BUT we are ultimately beholden to NO-ONE, we have our security firmly in our own hands and we have the authority to make the final decision all the time and every time.
So, for goodness sake BLOODY SMILE and enjoy the ride!
