Tips for Managing Your Franchise Business – Part 1

franchising tips

Richard Hornberger is the International Regional Vice President of Minuteman Press. They are a renowned design, marketing and printing franchise.

Richard describes himself as: “Passionate about business. I receive a great sense of satisfaction helping people to achieve their dreams and goals by sharing my business and industry experience with current and potential Minuteman Press franchisees.

In a blog post on Minuteman Press website, Richard listed his top 6 franchising tips for managing a franchise:

1. Follow the proven system

It worked for franchisees before you, so it’s very likely to work for you too.

2. Hire the best people and treat them right

Create an environment where great staff members can thrive and become problem solvers. Avoid micromanaging your staff.

3. Delegate to your employees

Franchisees can’t do everything there is to do within their businesses by themselves. Delegation relieves some of the load from the franchisee and provides the employee a sense of importance and ownership in the operations of the business. This will help to develop loyalty from your staff and create a winning team environment.

4. Use what your franchisor gives you

Employ the programs and product offerings from the franchisor that are designed to market and build your business.

5. Manage your time efficiently

You should work with your team and do all the things you need to address today’s workflow but pay attention to the bigger picture. Attend to those important tasks and develop the presence of mind to know when to proceed to the next item if something is taking more time than expected.

To avoid bottlenecks, if there is an item on your list taking an inordinate amount of time, move on to the next item and address / reassess later.

6. You will likely need franchise mentoring and assistance

Being humble and receptive to help and mentoring won’t simply minimize mistakes but may also save money, time and frustration.

Read also: Tips to expand as a multi-unit franchisee

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