Learn how to run a successful franchise.

Five steps for operating a franchise

Operating a franchise is a hands-on enterprise. The more work you put in, the more likely you will be to achieve success. Here are five things you can do that may give your business an edge over the competition.

Operating a franchise is a hands-on enterprise. The more work you put in, the more likely you will be to achieve success. Here are five things you can do that may give your business an edge over the competition.

  1. Feedback Speech Bubble

    Ask for feedback.

    Tools such as online platforms used to gather customer feedback are great resources for this. Positive feedback can be used to promote your business’s reputation while negative feedback can be used as an opportunity to repair relationships with customers and/or improve your business.

  2. Hands holding Heart

    Get involved in the community.

    Besides giving you the opportunity to give back to the community, getting involved in charitable organizations and other local initiatives allows you to get to know your customer base better so you can serve them better.

  3. People Networking

    Network.

    Join various professional organizations, such as industry associations, to meet and talk to other entrepreneurs who may be able to share different ideas and strategies that you can use to help grow your business. Many franchises host annual conventions that are perfect for this purpose – they bring together hundreds of fellow franchisees for three- to four-days’ worth of learning, networking and fun.

  4. Employees

    Hire the best employees you can find.

    Search for people who are intelligent, hard-working and have a passion for the business you’re in. Once they’re hired, ask them for their input on how you can work together to make your business better. Show them that they’re a valuable part of the team. Not sure what kind of people would suit your business the best? Ask your franchisor for guidance.

  5. Goddard Logo

    Look to your franchisor for advice.

    Many franchises have been in business a long time. Some have been in business for 30 years or more. With this longevity comes a lot of experience and knowledge - franchisors have seen what works and what doesn’t. Go to them for business advice. Ask them how you can improve your business. They will be more than happy to help you because they want you to succeed. The franchisor/franchisee relationship is a mutually beneficial one. Take advantage of it.