Global Franchise 9.3

franchise network is the backbone of sustainable growth and profitability. When addressing underperforming franchisees, start by understanding the root causes. Have open conversations about their challenges instead of relying solely on performance metrics like key performance indicators (KPIs) or royalties. Since your franchise operates on a proven model, underperformance signals that something isn’t working optimally. Proactively identifying and resolving these issues prevents damage to your reputation, loss of revenue or even franchisee exits. Conversely, high-performing franchisees can offer valuable lessons. Analyse their approach to your business model and compliance with operational standards to replicate their success across the network. Maintaining strong relationships requires consistent effort. Schedule regular meetings, provide constructive feedback and implement small, actionable steps to address challenges. Creating a shared marketing fund is another effective way to support franchisees, demonstrating your commitment to their growth while fostering collaboration. Additionally, set clear performance thresholds and establish alerts for underperforming franchisees. This allows for early intervention and targeted support before issues escalate. By prioritizing open communication, mutual investment and collaborative problem-solving, you can ensure both struggling and high-performing franchisees feel supported. Attempting to handle every franchising task yourself often leads to burnout and inefficiency. The solution lies in building a team of skilled specialists who can handle specific tasks more effectively and efficiently than you could alone. Think of your tasks as rungs on a ladder. At the bottom are low- value tasks like answering emails or scheduling meetings. These are time-consuming but not critical to driving growth. At the top are high- priority tasks requiring strategic expertise, such as onboarding franchisees or refining business models. Prioritizing and delegating tasks ensures you stay focused on what truly matters. Another approach is dividing tasks into ‘functional’ and ‘vital’ categories. Functional tasks, such as routine administrative work, can be outsourced or assigned to team members, freeing you to concentrate on vital activities that drive your franchise forward. By assembling the right team with complementary skill sets, you create balance and scalability in your franchise operations. Delegation isn’t a sign of weakness; it’s a strategy for ensuring long-term success and freeing you to focus on high-value priorities that grow your business. For franchise owners, growth is the goal, whether it’s expanding into new territories or increasing revenue through franchisee royalties. Achieving this requires a laser- focused approach to marketing that avoids broad, inefficient campaigns and instead targets the right individuals. The key to success lies in developing detailed buyer personas. These are profiles that represent your ideal franchisees and include understanding their demographics, education and economic prospects. Tailored marketing campaigns can then be designed to attract these specific individuals, rather than wasting resources on a generalized audience. Targeting potential franchisees has become far more precise. Tools such as LinkedIn, Google, and Facebook ads, along with landing pages, expos and exhibitions, provide ample opportunities to reach your ideal candidates. The crucial step is ensuring these campaigns are aligned with your buyer personas and include strong calls to action, such as contact forms or email sign-ups. Once campaigns are live, measurement is critical. Analyze metrics to determine which channels are performing best and reallocate resources accordingly. This ensures your marketing budget is spent where it has the most impact. Finally, refine your strategy based on these insights. Continuously improving your campaigns ensures that your funnel is filled with high- quality leads, setting the stage for sustained franchise growth. By targeting the right audience with the right message, you’ll achieve measurable results and avoid the pitfalls of untargeted advertising. While filling your funnel with leads is the first step, ensuring your franchisees are the right fit for your business is equally critical. Franchise relationships often span five to 10 years or more, so selecting candidates who align with your values and goals is key. Start by responding to interested leads with an automated email providing detailed information about your franchise. Follow up with a call or video meeting to evaluate their understanding of your business and set clear expectations. Hosting open days at your business is another effective way to give potential franchisees a firsthand look at operations and establish mutual trust. Legalities come next, such as signing non-disclosure agreements (NDAs) to protect your proprietary interests and finalzing initial payments. Once these steps are complete, a solid training program is your next priority. This must mirror the quality and care of your customer experience, as a poorly trained franchisee can harm your reputation and network morale. Incorporate insights from your top-performing franchisees into the training process. Their expertise can inspire and guide new recruits, fostering a collaborative and motivated network. Ultimately, your ideal franchisees are those who not only understand but fully embrace your business model. By finding the right fit, you lay the foundation for a thriving, long-lasting partnership that benefits both parties. CREATE THE FRAMEWORK Nurturing the Five Fs – a fantastic reputation, franchise network, focused team, full funnel and finding the fit is a powerful model for driving franchise growth and sustainability. FOCUS ON ESSENTIALS Reputation, relationships, delegation, targeting the right candidates, and ensuring proper fit through training and onboarding sets the stage for long-term success. IMPLEMENT FOR SUCCESS Streamlining operations, marketing efficiency, and stronger, more profitable franchise partnerships lead to measurable growth and results. “Networks thrive on the success of franchisees. Their achievements drive growth, while their struggles can affect reputation, revenue and resources” 57 GLOBAL-FRANCHISE.COM Market ing Ins ight | FEATURE