Franchising is a multibillion-dollar industry in Australia, with more and more brands expanding every year. In such a competitive sector, corporate HR managers must understand the ins and outs of growth in order to support their franchisees. These six tips will help your franchisees grow.
1. Work with franchisees at ground level
There’s no better way to truly understand the nitty-gritty of your franchisees’ day-to-day business than to work with them on the ground. If possible, block out some time each month to visit and view the daily operations, experiencing how franchisees interact with customers and overcome challenges. It will also provide insight on what systems they require to drive profitability and growth.
2. Conduct regular one-on-one discussions
If actually getting into stores isn’t feasible, keep the lines of communication open. The worst thing you can do for franchisees is not communicate, making them feel abandoned. It could be something as small as brief catch-ups over social media, and you might consider implementing a universal workplace-communication tool that keeps every franchisee on the same page. Whatever you decide, being available is crucial.
3. Give franchisees modern tools to deal with challenges
In the highly competitive market of franchising, there’s often a fine line between staying afloat and struggling in the red. That’s why you need to stay on top of technology trends to improve your franchisees’ businesses. A business audit can reveal the most common pain points, and then you can start implementing solutions like online roster optimisation or accounting software, like Xero or QuickBooks, that integrates with a franchisee’s other software.
4. Keep all relevant info online
The best communication tactics go deeper than a quick weekly call or social media updates. Your franchisees want to know you are on their side and always transparent. Share all the latest info about the franchise on your company’s website, blog and social media platforms. You can even go a step further and entice new franchisees by publishing the franchise’s pertinent information, such as annual statistics, latest financials and testimonials from current franchisees.
5. Perfect your business model
Even the most successful global franchises don’t rest on their laurels. They recognise changes in the market and adapt to them in order to remain number one. In a challenging industry, it’s more important than ever for corporate to test and revise their business model. Start by reviewing individual locations and understanding their wins and their struggles. From there you can build a base to – ideally – scale appropriately.
- Grow organically
Whether you’re part of an established franchise or a fast-growing new brand, knowing when to expand is a common issue. Growth is an art form that requires patience and proper due diligence. For your franchisees to succeed, you must focus on what they already have – and not necessarily where your next franchise location could pop up. Attracting and expanding your brand is vital in the long term, but keeping your current franchisees happy should be your number one goal. And when you do decide to expand, always ensure the growth is organic – not artificial.
Whether it’s staying consistent with weekly catch-ups or training them to use workforce-management tools, there are plenty of ways you can help your franchisees grow in an evolving industry.