Managing a franchise network can be highly rewarding, but it can also be challenging. You have high hopes every time a new franchisee joins the network. But not every franchisee turns out to be the right person for the job. Here are some top tips to get the most out of each franchisee and boost your network’s performance.
Up the one-to-ones
Regular check-ins are a great way to catch up on how individual franchisees are feeling. You may have group franchise network meetings, which are great for sharing knowledge on a wider basis. But people won’t always feel able to speak up in those group environments, especially if they have an issue affecting their performance.
Talking on an individual basis, either in person or online, enables you to focus on them and their business. Ask lots of open questions, and don’t be afraid to probe their answers. There may be an issue, work-related or not, that they want to open up to you about. Getting things into the open is the first step in supporting them and addressing their performance.
Review their business plan
Each of your franchisees should have their own business plan, which aligns with your overall business plan. It’s essential to regularly review their performance against their objectives. Talk about what’s gone well and review any areas that haven’t gone so well. Work together to create action plans to improve their performance over the next quarter and six months. Do they need additional training or resources? Is there someone else in the franchise network they could buddy up with who has tackled something similar before? Listening to them and providing the support they need will be beneficial for both of you.
Assess their KPIs
Along with a business plan and objectives, each franchisee should have a set of monthly KPIs that they measure themselves against. This could be monthly revenue or profit. It could be the number of new clients added, networking meetings attended, or average review scare. Each franchisee should choose the key performance indicators that are most important to their success.
Like the business plan, if things have gone well, celebrate! Motivate your franchisee to achieve more by celebrating and sharing their success. If they are falling behind, identify what they need to do to get things back on track.
Meet up face-to-face
I am a huge believer in face-to-face connection. Whilst virtual meetings are great, there is significant value in physically meeting up with your franchise network, even if it is just for a few hours.
Don’t underestimate how motivating it can be for your network when you invest your time in them. In my experience, the benefit far outweighs the effort of getting to them, and it is always worthwhile.
Share best practice
Each of your franchisees is unique, but they can learn so much from each other. Sharing best practices across your franchise network can enable quick wins and tackle any feelings of isolation in your network. Ensure that anything that works for one franchisee is shared across the network and encourage a culture of collaboration.
As well as sharing best practices, ask your network to share their ideas. For example, one of my franchisees said she thought it would be useful to introduce social media management packages to give clients an idea of what to expect for a certain price. It turned out several other franchisees had thought the same. As a result, I was able to create new services to assist all of them.
As a franchisor, your success depends on your network, so investing your time in supporting them is essential. Whether it’s in-person or online, in group meetings or one-to-one, being a visible franchisor who shows up and supports your team will enhance their performance.
