Training, Supporting and Nurturing Franchisees
Having recruited some franchisees, the next step is to ensure that they get the training and support they need to successfully launch their businesses, and then ensure you continue to nurture them on an ongoing basis as needed.
These steps are crucial in the early stages – no one wants to join a franchise with an early record of failures! But don’t worry, we’ll guide you through the process and make sure everything is in place.
Franchise Management Software
Our software is designed so that the standard package can be introduced at a very low cost and enhanced over time as your business grows.
Importantly, if this is thought about early one, you can ensure that the costs are largely paid for and included in the ongoing monthly management service fees that franchisees will pay you.
Most franchise opportunities offer some sort of exclusive territory option as part of their franchise agreement and financial projections.
Creating balanced territories for a country using specific demographic data and customer profiling is a complex affair, and one you shouldn’t attempt to do yourself using inexpensive software or free options to ‘map a territory’.
There really are no shortcuts to doing this properly, and the initial costs are far outweighed by the value good territory mapping adds to the process of finding franchisees, as it becomes a brilliant sales tool to demonstrate that you’ve carried out your research.
There are highly experienced and reliable companies out there we can introduce you to in order to start a conversation about how this works, or you can talk to us for more information.
Providing Funding Help for Franchisees
Franchisors that have built good relationships with specialist finance organisations will sign more franchisees because it helps provide a solution to a common problem faced by many prospective franchisee…”I think it’s too risky to put all my own money into this”.
The truth is, often they don’t, and shouldn’t! Good franchisors help their franchise candidates overcome this obstacle by providing the route to addressing this.
Did you know it is possible for the right franchise candidates, being introduced by the right franchisors, to get lending of up to 70% unsecured based on the total level of investment required in your opportunity?
Training and Supporting Franchisees
Structuring this initial training is fundamental to them getting a good start in their new business. More often than not, there is ongoing training in the areas they may need it most (like marketing, or sales). Some of this training is general training which can be carried out by any professional, and some of this training is specifically built around the way your business is run.
When we use the word ‘training’, what we actually mean is a mixture of coaching, mentoring and, sometimes, a bit of gentle counselling, for most new franchisees have never had their own business before and may need a lot of ‘hand-holding’.
The Franchising Centre has great experience in helping franchisors put this in place and help to get it implemented.
Recruiting Franchise Support Staff
Finding people for senior management and executive roles to support franchisees needs a focussed approach. You will need experienced people with a background in franchising, who will add great value to not only supporting new franchisees, but also to you!
Some areas you can outsource (like franchisee recruitment), but you will need to employ trusted franchise support staff eventually.
The Franchising Centre has a ready supply of good quality, experienced people on tap and we will be able find the right person to fill any gaps that may be opening up.
Training Your Staff
The Franchising Centre has been involved in training for over 20 years and plays a part in delivering The British Franchise Association’s own Qualified Franchise Professional (QFP) training.