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Benefits of Franchising Your Business

Benefits of Franchising Your Business

As an entrepreneur continues to grow their business, managing all aspects of the day to day business effectively quickly becomes a challenge.  Multiple locations of any enterprise involves many moving parts, all of which need to be monitored and maintained in order to sufficiently and successfully exercise a typical day of business.  Elements such as staffing, customer service, sales and brand continuity all become more and more difficult as   Growth can lead to unsustainability if not acted on properly.  Business owners frequently wish for expansion, but fear their ability to control each operational process will become muddled or lost altogether.  And, in most cases, they are probably right.  Many times, business owners who grow through company-owned and managed locations run into obstacles that hinder growth as the business expands beyond what they can manage directly.   

 

It is at this crossroad in a business’ growth that franchising becomes a viable expansion option.  Franchising your business allows you to multiply a brand’s footprint, but with added manpower and capital to scale the growth.  The value of having independent business owners who have money invested and their direct, onsite focus is enormous and the performance of franchise-owned and operated businesses almost always outperforms company-owned locations of the same business model.  Franchising your business can also reflect positively to the business’ image, as the public sees this new business as locally owned and operated and if the franchise owner is the right person they are connected to the community and know how to connect to consumers in the area. 

 

People are naturally attracted to familiarity, and a process that is consistent regardless of the location in which it is being executed will lead to successful results.  Franchising allows a brand to grow and duplicate at several levels.  At the national or global level, all franchisees and corporate units contribute to a marketing fund that is used to promote the brand and build awareness for the company.  At the regional level, franchisees work together through regional cooperatives where advertising dollars are spent in a region to build local awareness and leverage economies of scale in advertising and promotion spend.  At the local level, franchisees are required to spend dollars in promoting and advertising the business in their immediate market.  The combination of the advertising platforms maximizes the opportunity for brand development and makes franchising a win-win relationship between franchisor and franchisee.  

               

Franchising your business allows entrepreneurs to attract other like-minded people with a thirst for owning their own business, but with the desire to have guidance and support along the way.  Many do not want to endure the time, effort and risks inherent in starting a business from the ground up.  By purchasing and joining a franchise, franchisees are able to reduce the stress and increase the chances of success.  Franchising your business will naturally pool resources together – collaboration amongst franchisees leads to sharing of ideas and proper quality checking of each system and process.  A business owner benefits in having easy access to criticism in an appropriate and relevant manner.

               

The benefits of franchising your business can be extensive, but when it comes down to it, the key benefit is a transition from operational focus to strategic.  The entrepreneur who is able to make this transition stops focusing on the small items inherent in managing a business and begins to focus on what strategic aspects will help drive the growth of the brand and scale the business.  The funny thing about this transition is that people who are stuck in an operational mindset many times are busier and work harder than those who are strategic-minded.  Franchising is a big picture initiative where the product becomes the business model itself and with each transaction, the brand grows exponentially. 

 

For more information on the benefits of Franchising Your Business, Contact us:

info@FranchiseMarketingSystems.com

Making a difference by Franchising your business

Franchising is one of the most powerful expansion vehicles on the planet. It takes a variety of business elements, systems, processes and market characteristics to franchise a business successfully. Most businesses that franchise are driven by the need to capture market share, generate investment dollars or add valuable human capital to the organization by ways of franchisees who invest in the business. Some franchise systems are driven by a greater calling though, one that revolves around giving to a greater good, a cause or something that carries social value. Franchise systems that have a calling, something they wrap the companies core operating principals and mission around have a unique set of advantages.

What does it mean to give back and have a cause that is intrinsically wrapped into a brands “being”? It starts with finding something that strikes an emotional chord with the leadership of the company. Something that wasn’t just picked out of a hat, but truly holds intrinsic value. A Franchise Marketing Systems client, Mosquito Terminators, who sold 87 units in the company’s first 18 months of franchising committed a percentage of overall revenues to give to a charity in Africa that helped kids avoid mosquito born diseases such as malaria. Classic Commercial Services is another example who through the brand’s classic cares platform everyone in the system commits two percent of gross revenues towards those in need. The ultimate example of this paradigm is franchise marketing system’s client Children’s Miracle Network where 50% of all revenues generated through the platform go back to the children’s hospitals the organization is designed to support.

Whatever the cause, it should mean some thing and be entwined into the culture of the organization. As in most aspects related to leadership, it is critical to be consistent with how these charitable causes are tied into every aspect of the business. You can’t be taken seriously in your mission to help people if other decisions you make in the business contradict your stated cause. The way you as the leader of the brand interact with your staff, support your Franchisees and even speak to people on the phone in conversation must align with your brand’s cause.

So how do you find a cause that means something to you? Start by watching the news….pay attention to what catches an emotional nerve and then align with a charity that fills that need. Do research on the charity first, a starting point are charity evaluation sites such as (https://www.charitywatch.org/top-rated-charities). Make sure to do your due diligence and then build the commitment into your franchise expansion plans. The community, your franchisees and your peers will respect and love you for your dedication to helping people and your franchise will grow as a result of this.

For more information on how to franchise your business, contact us;
Info@franchisemarketingsystems.com