Emerging Franchisors: Focus on Your Franchisees
Emerging franchise brands face a set of possibilities unique from their larger and smaller competitors. Once a franchisor has established an initial core of franchisees and begun moving away from “pioneer” franchisees, the emerging franchisor has an opportunity to step back, evaluate, and adjust the system based on past history to continue and increase growth.
An emerging franchisor should seek to improve its onboarding and initial training of new franchisees while striving to build relations and increase validation of its current franchisees. A franchisor can do this by implementing mentoring programs that connect its veteran franchisees with its rookies. Further, an emerging franchisor should call to its veterans for feedback about what they have found most valuable about the system and experience so far. This will give a franchisor insight into the differentiating and value-adding features of the franchise, and what a franchisor can do to increase development.
After an emerging franchisor has found an attractive niche for consumers, the next important step is ensuring that franchisees deliver it. Focus on your franchisees’ bottom line and their support, and your brand should respond accordingly.Back