It’s easy to get caught up in the day-to-day tasks involved in running a business. But how can you make sure you get the most out of your franchising journey as a happy franchisee? Here are our eight top tips for job satisfaction in the franchise world.
1. Take pride in your training
The best franchise opportunities offer quality training programmes for all franchisees, whether they’re seasoned professionals or completely new to the industry. Most will also offer ongoing support and regular development courses for franchisees to boost their skills and knowledge.
This should not only give you the chance to keep up to date with your franchise’s latest processes and policies, but it should also give you a sense of fulfilment. Make sure you get the most out of any training opportunities, both for your business and for your mental wellbeing, by throwing yourself into them with enthusiasm.
2. Create a positive culture
You have the power to influence the culture of your franchise unit(s). Take the time to think about how you want to treat your franchisees and how they, in turn, should treat your customers. Creating a fun, relaxed or productive atmosphere will have an effect on the wellbeing of your staff members, and will trickle down to customers, so consider your plan carefully.
Your employees are more likely to value their jobs and respect you as their employer. And as a result, you’ll probably look forward to coming to work too. Also, a study by the University of Warwick revealed happiness can lead to a 12 percent rise in productivity. So, launching a business with a positive culture and ethical values can mean the difference between being profitable and failing to perform.
3. Focus on your business plan
Business plans are hugely valuable resources for any entrepreneur. You’ll use yours to set performance targets and identify any challenges you may encounter so you can put measures in place, should they occur. By discussing it with your franchisor, you’ll be able to review your business from a strategic perspective and focus on long-term goals.
Thinking about the bigger picture can be incredibly helpful when it comes to maintaining a sense of perspective. You may find yourself getting bogged down in the stresses of everyday life. But, if you remember your end goals and know how you’re going to get there, you’ll probably be more motivated to keep pushing forward. Having a solid plan is a key step to becoming a happy franchisee.
As a franchisee, you run your business and are in control of many aspects of it, so it’s easy to forget you’re part of a much larger network of people. You should be in close communication with both your franchisor and your employees – not to mention your customers. It pays to listen to their thoughts on the business and consider them carefully.
Try creating an environment where your employees feel comfortable approaching you with their views, as this will feed back into cultivating a positive company culture – and make you happy too. But the benefits may go further than this; employees often come up with fantastic ideas for developing the business in the future. Remember, depending on the nature of their role, they may be closer to your customers than you are, and have key insights to help the business grow.
5. Act on feedback
It's not enough to listen to your employees; you need to act on what they tell you too. There is nothing more demoralising for staff members than feeling they’re being ignored. Of course, you probably won’t be able to take every suggestion on board. But, if your workers are continually offering up ideas for improvement based on customer feedback, your business will probably benefit if you implement at least some of them.
When you do this, your employees will feel valued and you will benefit from the increased productivity of an organisation with a collaborative work culture. Also, running your own business as a franchisee can sometimes be lonely, so many entrepreneurs like to feel they’re working alongside their employees for the good of the franchise unit.
6. Communicate openly with your franchisor
An effective relationship between a franchisee and their franchisor is based on authentic communication. It’s vital you engage in two-way communication if you’re to ensure the success not only of your business, but of the franchise as a whole. It’s in the franchisor’s best interests to help you build a successful unit, so don’t feel shy about getting in touch.
To build and maintain a robust relationship, you need to take the time to check in with your franchisor on a regular basis if they don’t schedule dedicated meetings. You could do this over the phone or via email, but don’t underestimate the power of face-to-face meetings. By developing a positive relationship with your franchisor, you’ll be able to openly discuss any issues you face, which should give you reassurance as you run your business.
Joining a franchise can be exciting – if a little scary. But, as the famous saying goes, with franchising, “you're in business for yourself, not by yourself”. You should be able to rely on the support of your franchisor, but you also have the chance to network with other franchisees in the business – unlike entrepreneurs who launch their own independent business from scratch.
Take advantage of this networking opportunity and discuss your experiences with your peers. These like-minded entrepreneurs may be able to offer you valuable advice and guidance before you have to learn from your own mistakes. Your franchisor should organise regular events to give franchisees the chance to mingle, but if not, consider taking part in other franchise events such as industry conferences. This is a sure-fire way to become a happy and successful franchisee.
8. Review and improve
This is a huge part of running a successful franchise unit. To build a profitable business, you must review your progress so far and know how you can improve in the future. What mistakes have you made and how will you avoid them next time? Have you been given any valuable customer or employee feedback and how can you implement their suggestions?
Your franchisor should provide you with accurate insights into your unit’s performance in comparison to the rest of the network. But if this isn’t the case, ask for any useful performance data and their advice for boosting profitability. By taking the time to evaluate your business, you can celebrate the progress you’ve made and put yourself in a good position to achieve your next lot of targets. This should help you reach a positive headspace and continue to develop as a happy franchisee.
Running a successful franchise relies, to a certain extent, on being a happy franchisee. If you find fulfilment in your work, you’ll be more motivated to push your business forward and reach your goals. Hopefully, our eight top tips will help you get the most out of your franchise journey.
For more information on managing a business as a franchisee, we publish regular articles on how to become a franchisee on our website.
Alice Tuffery, Point Franchise ©