Like all long-term relationships, the one between a franchisor and franchisee is an important one that leads them both to achieve their personal goals and business goals together. One of the biggest challenges in franchising is for franchisors and franchisees to stay in harmony.
It is best practice to build a system that empowers franchise owners and aims to keep their achievements and challenges top of mind. This can be achieved by creating a feedback loop with the franchises. In other words, staying in the game is possible only if you have a system to continuously gain insights from your franchisees. Keep an open mind to receive feedback and follow these three practical steps
How can you initiate a feedback loop? You can start it by listening to them, their dreams, highs, and lows. Your team might regularly stay in touch to ensure they have through additional training or offer advice, and create touchpoints outside of that. A call to just find out how they are doing can go a long way for them. This can reflect the level of commitment that the franchisor can display.
If you are really ready for feedback and wish to improve your relationships, meeting them regularly can boost performance and deliver positive results. Listen to potential questions about processes and even challenges from your franchisees. This can result in productive and informative meetings. In addition, it also allows a chance to share their best practices with other franchisees. Everyone can learn from each other, including the franchisor. This shows that there is an attitude to evolve and grow. Especially from people who have invested so much of their time, money, and energy into your system.
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You could involve a third party to gain feedback from your franchisees. This will leave you vulnerable but also give you the real picture and the insights from your franchisees. Find market research firms or consultants who can poll your franchisees and collect the data. Usually, this could come with an additional cost. If on a budget, you can use free service through Google Forms or Survey Monkey. By allowing for more open and honest feedback, the more easily you can address their needs and predict future needs of other franchisees.
Keeping communication as a two-way street can help not just tour current set of franchisors but also improve your franchise system for all future franchisees.
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