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Step 8: Managing a Franchise Business

Step 8

Managing a Franchise Business

Managing a franchise business will differ from managing and developing your existing business.   A franchise network will need an appropriate framework for servicing, monitoring and keeping control of the franchise network.

You will need standardised, well thought out administration processes packaged and delivered to each new franchisee as well as ongoing throughout the life of the franchise.

A support structure will also be needed to ensure franchisees have the information they need and the mechanics for providing full and prompt reporting information and feedback to you, the franchisor.

Programmes and systems will be needed to implement and monitor marketing initiatives and a clear procedure for franchisee/franchisor consultation.

Systemised franchisee training will also form an integral part of the franchised business framework.  Franchisees need to understand how to make their franchise work.  You, in turn, will want successful franchisees so that you achieve appropriate financial returns from the franchise operation and so that your franchisees become suitable ambassadors for your business.

A robust, carefully thought through and properly managed franchise business will not only ensure consistency across the franchised business and effective monitoring of franchisees but will also promote appropriate business relationships between you/your franchise team and franchisees.  Franchisees will have a clear understanding of what they should be doing to make the franchise work and in turn, you have a traceable audit trail of communicating and supporting franchisees in that endeavour.

Call and speak to a franchise solicitor: we are happy to give initial advice without charge or obligation

 

 

 

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