Gone are the days of the core business disciplines of sales, finance, marketing and IT being enough – you may consider mental health as a separate issue – I’d argue it is equally as important for success in today’s landscape. If you don’t find references to how franchisors support, educate and invest in mental health as you do your research, please consider what that would mean for you long-term.
But when looking for a franchise in which to invest, how can you tell if a franchisor is serious about supporting their stakeholders or if they’re just jumping on the bandwagon because they think it looks good? The frustrating answer is that you can never be 100% sure. But you can put yourself in the strongest possible position by looking out for some key indicators and asking some strategic questions during your due diligence process.
First of all, what does your gut tell you? Because it’s usually right! The signs are often hiding in plain sight so pay attention to what language and terminology are used in things like website copy and brochures. Does the franchisor openly talk about modern-day challenges surrounding mental health and work-life balance or are things strictly professional? How does the brand speak about its franchisees – as business entities, or as family members and partners?
This will all help to give you some insight into what life as a franchisee would really be like. Of course, the best way to establish this is to speak to existing franchisees. The usual advice here is to ask about performance and results but don’t forget to ask how each franchisee feels too. Are they happy? Do they feel fulfilled and enthusiastic about their business or is there something less positive going on? Crucially here, don’t interpret feedback of challenges and hard work as negativity – you’d expect to deal with nothing less as a successful business owner. Instead, listen out for what mindset a franchisor helps to promote and what forms of encouragement franchisees feel like they receive, and when.
Of course, once you are a franchisee yourself – a business owner in your own right – you’ll have obligations to your stakeholders too. That could be directly relating to the support you offer your staff but also the overall culture, and sense inclusivity and diversity you curate for your customers, suppliers and anyone who comes into contact with your business. A staggering 74% of employees highlighting wellness strategies as one of the key elements to achieving job satisfaction1. It’s therefore becoming increasingly important for employers to establish a foundation of support and ongoing maintenance of their teams’ wellbeing. ‘Empathy at every level’ is a value we live by at Tezlom and we empower our franchisees to become leading employers and the healthcare recruitment agency of choice in their area.
Ultimately, a franchisor that priorities health and wellbeing is more likely to achieve not just network satisfaction but market dominance and all-round success. Definitely food for thought!
1Caboodle, 2022, 66 employee wellness statistics that show the true state of employee wellbeing.
This article comes courtesy of Tezlom Franchising, a UK Healthcare Recruitment business that specialises in “finding places for people that care….” A business suited to anyone who is looking to start changing people’s lives for the better, today.
