There are many things to consider when choosing a franchise to invest in. People naturally evaluate financial gains and if they align with their lifestyle goals. Assessing the enjoyment from managing the business and the support offered by the franchisor are equally important considerations too. Above all it is crucial to examine a franchise’s brand reputation as it will impact your business on many levels.
Here, Kristen Horler, Head of Sales at Snap Fitness, delves into what people should look out for when researching a franchise’s ethos, code of ethics and values. She emphasises the importance of placing integrity at the core of the franchise’s operations.
Starting your research
For those interested in investing in a franchise, thorough research is imperative. Immersing yourself in comprehensive research allows potential franchisees to make informed decisions and enhances their chances of success.
It’s only once you start to consider elements of the brand identity, like the website and social media presence, that you can begin to understand the brand’s culture. If the franchise’s missions and values resonate with you, the franchise becomes a better fit. After all, when investing in a franchise, you’re buying the rights to their processes and culture, so it’s crucial to align with them.
A franchise might grab your attention in theory but what about in practice? Reaching out and engaging with current franchisees is a valuable way to understand the day-to-day operations, painting a clearer picture in your mind. As a rule of thumb, do your due diligence with at least three franchisees – and if any brand seems hesitant to put you in touch with them, it’s wise to be wary.
The value of integrity
So, you’ve completed your research, and you’re ready to invest. Why is it imperative for you to select a brand that prioritises integrity in their operations?
- Trust and reputation: brands valuing integrity are more likely to boast a strong, trustworthy reputation. At Snap Fitness, we stress the significance of trust in the relationship between franchisor and franchisee. Success occurs when trust is upheld.
- Ethical standards and leadership: cutting corners in business has repercussions. Adhering to best practice helps franchisees avoid legal and ethical complications. Principled leadership is pivotal too. Snap Fitness is unwaveringly committed to a family-first, fun “One Team” culture, fostering transparency, accountability and fairness.
- Employee satisfaction: franchisor integrity creates an appealing work environment, leading to higher retention rates and increased staff commitment. Snap Fitness takes pride in providing excellent franchisee support. Boris & Stefan, franchisees of our Hereford club echo this sentiment, “The support and guidance we received from Snap Fitness was exemplary – particularly when it came to the hiring process. We hired our gym manager with the support of the head office team and the results we’ve achieved since then speak for themselves.”
- Long-term success: franchises prioritising their ethos tend to achieve long-term success – whether that is overcoming challenges, adapting to market changes or catering to shifts in consumer preferences. Honest and transparent brands inspire loyal customers and bolster a positive brand reputation, paving the way for a more successful business.
Kristen concludes, “As a testament to our own commitment to operating by ethical practices, Snap Fitness was recognised by the British Franchise Association in this year’s BFA HSBC British Franchise Awards. We were nominated in both the Brand Awareness and Culture & Leadership categories – our resolve to continue our mission in creating a family-first, fun “One Team” environment remains as strong as ever.”