We help the brands we work with implement really clear progression structures within their networks – and they work brilliantly. Franchisees can be fantastic for several years, performing perfectly well against the expectations of the franchisor, but then just plateau. This is usually not because they have run out of steam, but rather that they have satisfied their own ambitions by achieving the goals that were motivating them. This could be reaching a revenue target, or a particular level of work life balance.
What’s usually needed at this point is conversation about what is motivating the franchisee now, at this point in their business journey – there is always something. It could be that it’s actually a great time for them to sell their business and enjoy the fruits of their labour, or perhaps they just need the right incentive to focus them on re-engaging. Sometimes this might be related to the business – a new territory for example. Other times, it might be greater involvement in the wider franchise, such as becoming a mentor or leading a committee.
We’ve seen franchisees grow in 5 to 10 years from first time business owners learning the ropes, to confident leaders and employers with a range of business interests and investments, and seats on boards, and charities. Buying a franchise can be just the first step in what becomes an incredibly rewarding career both in and out-with the network.
Many van-based franchises have shifted their models in recent years from having a franchisee for every territory, to finding a higher calibre of franchisee who embarks on a path of growth from day one that takes them from one man in one van, to one man with a team of support staff and numerous employees running a fleet of vans out servicing multiple territories. You can see this happening across a lot of different sectors now. We’ve always known that people eventually stagnate when left in their comfort zones for too long – now we’re just better at keeping everyone moving and growing.
Innovating the business model or product
Youve probably heard the saying the only constant is change...well this is certainly true for the long term in business. Who would have thought that burger chains would offer salads and fruit bags, or that our CD collections would become obsolete in favour of online and subscription based models? An ability to see trends and instigate change within your brand or model is key.
Considering new international territories
When you have had success in your local market and maximised territory coverage its worth considering where you can go next in the world. Will your model translate to other countries? We can help you look at whether international franchising is right for you and look at markets to consider.