How can you get the most out of your franchise performance review?

1 Prepare in advance

Before your performance review, take some time to review your franchise agreement, operations manual, and any feedback or reports you have received from your franchisor. Make a list of your achievements, challenges, and areas of improvement. Think about what you want to learn from your franchisor and what goals you want to set for yourself. Be ready to provide evidence and examples to support your claims and show your commitment to the franchise system.

2 Be open and honest

During your performance review, listen carefully to what your franchisor has to say and avoid being defensive or argumentative. Acknowledge your mistakes and show that you are willing to learn from them. Be honest about your strengths and weaknesses and ask for constructive feedback and guidance. Express your appreciation for the support and resources your franchisor provides and show that you value their input and expertise.

3 Ask questions and seek clarification

A performance review is not a one-way conversation, but a dialogue between you and your franchisor. Don't be afraid to ask questions and seek clarification if something is unclear or confusing. For example, you can ask about the criteria and standards your franchisor uses to evaluate your performance, the best practices and benchmarks in your industry, or the opportunities and challenges that lie ahead. Asking questions shows that you are interested and engaged in your franchise performance and development.

4 Set realistic and measurable goals

One of the main outcomes of a performance review is to set realistic and measurable goals for yourself and your franchise. These goals should be aligned with your franchise agreement, your franchisor's expectations, and your own aspirations. They should also be specific, achievable, relevant, and time-bound. For example, you can set a goal to increase your sales by 10% in the next quarter, or to complete a training course in the next month. Write down your goals and track your progress regularly.

5 Follow up and take action

A performance review is not a one-off event, but a continuous process of improvement and communication. After your performance review, follow up with your franchisor and thank them for their time and feedback. Review the notes and action points from the meeting and implement them as soon as possible. Keep in touch with your franchisor and update them on your achievements and challenges. Seek their support and advice when needed and show that you are proactive and accountable for your franchise performance.

6 Seek a promotion

If you have been performing well and meeting or exceeding your franchisor's expectations, you may be eligible for a promotion within the franchise system. A promotion can mean different things for different franchisees, such as expanding to a new location, taking on a leadership role, or receiving more benefits or incentives. To seek a promotion, you need to demonstrate your value and potential to your franchisor and show that you are ready for more responsibility and challenge. You can use your performance review as an opportunity to express your interest and ambition, and to ask about the criteria and process for getting a promotion.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?