One of the major benefits of becoming a franchisee is the opportunity to get involved with an established business, one with tried-and-true methods and instant name recognition among customers.
Besides history and reputation, however, franchisees get something else when they become part of a franchise business model: support from the franchisor.
Franchisors want to grow their brand and expand. What they don’t want are franchises that struggle and fail. A good franchisor will support all of its franchisees so that the individual businesses succeed – it’s the best thing for the health of the overall company.
Some elements of franchisor support are a natural part of the start-up phase of a new franchise business, such as site selection, basic training, and launch assistance. Others are important no matter what stage of ownership you’re at, whether it’s marketing and advertising, social media and online promotion, or even financial or legal assistance.
Here’s a closer look at some of the basic types of franchisor support you should expect to receive as a franchisee.
Site selection and construction
Location is one of the most important aspects of any new franchise business. Depending on the franchise, new franchisees may be assigned a location, may get to choose from a list of pre-approved locations, or may receive franchisor aid in finding a suitable location. While relinquishing control in choosing a location might be tough for some franchisees to accept, remember that the franchisor has probably done extensive research on the best locations for its business, and likely knows what it’s doing.
Once you’ve selected a site, the franchisor may also provide recommended suppliers and retailers for construction. Consistency is an important part of the franchise experience, which means aspects such as color schemes, signage, and overall quality must remain standard across every franchise location.
New franchisee training
Most franchisors provide a multi-week training course for new franchisees, often with a mix of classroom instruction and in-store training. Such programs are typically hosted at the franchisor’s corporate headquarters, or some type of business training center.
Beyond the initial training, many franchisors also offer ongoing training modules and courses, helping franchisees achieve certifications and advance their qualifications. These additional modules tend to be offered online, making them easier for franchisees to complete while still running their own business.
A detailed operations manual
When you buy into a franchise business, you get access to the know-how and experience of all its previous franchisees. All the lessons they’ve learned about processes, protocols, standards, staffing, roles and responsibilities, and best practices for every aspect of the operation will be found in a detailed operations manual. It’s an invaluable how-to guide for becoming a franchisee and running your franchise. Read it, digest it, and refer to it often.
Marketing and advertising
At most franchise businesses, individual franchisees contribute to a fund that goes toward large-scale marketing efforts, such as national advertising campaigns, online marketing, and social media marketing. If necessary, franchisors may also orchestrate public relations campaigns to help cast the business in a favorable light.
At a local level, franchisors will typically offer assistance in generating publicity and exposure for a new franchise’s grand opening, and may also provide direction and assistance for local advertising campaigns.
Cost savings and quality control on business supplies
Franchisors typically insist on franchisees buying supplies only from approved vendors. Besides ensuring quality standards across locations, this also allows the franchisor to buy goods and supplies in bulk, often at a more competitive price than individual franchisees would be able to negotiate alone.
Besides lowering costs, the massive buying power of successful franchisors also ensures that individual businesses are typically able to work with suppliers who are mindful of and responsible about reducing losses caused by waste, breakage, and spoilage of goods and supplies.
When choosing a franchise to invest in, research your options and choose a franchisor who will give you the support you need to make your business a success.