If you are interested in franchising, you may want to learn from the experts who have been there and done that. Franchise experts can offer valuable insights, advice, and guidance on how to succeed in the franchise industry. But how can you collaborate with them effectively and efficiently? Here are some of the best ways to do so.
The first step is to identify the experts who can help you with your specific goals and challenges. You may look for experts who have experience in your industry, your target market, your franchise model, or your stage of growth. You may also consider their credentials, reputation, and availability. You can find franchise experts through various sources, such as online platforms, industry associations, franchise expos, or referrals from other franchisees.
Finding the right qualified and experienced franchise experts is not that easy for developing your franchisor business model. Often it is best to do a preliminary project that you and your franchisor advisory team will work on together determine feasibility of expanding by franchising your concept and develop the initial strategy to get that done.
I think it's really important that you get on well with the expert you're working with - I consider some of my franchise clients friends now - and it's fantastic to be able to work with your friends!
The next step is to communicate your needs clearly and respectfully to the experts you want to collaborate with. You may want to prepare a brief introduction of yourself, your franchise concept, your objectives, and your expectations. You may also want to ask relevant questions, such as their fees, their services, their methods, and their outcomes. You should be honest, polite, and open-minded when communicating with franchise experts.
In my opinion is the use of experts neccessary, but what is an expert? I think to look arround and find in your network franchisees and franchisors, my experience that most of them are very open and willing to inform you. If you after this make up your mind to start, then you can search for specific experts to help you in things you need help. But most of all is to have the passion for even more then 100% to do this, otherwise don't start.
It's all about how much you trust the expert to help you - don't be sold to with their glitzy sales pitch! Ask to speak with some of their clients and check their socials.
The third step is to follow the advice and recommendations of the experts you collaborate with. You should trust their expertise and experience, and be willing to learn from them. You should also implement their suggestions and feedback, and monitor your progress and results. You should not ignore or dismiss their advice, or argue with them unnecessarily. You should also acknowledge their contributions and thank them for their support.
Sometimes it's not just advice though - it's laying out all the options and the potential outcomes for each scenario. This allows you to make an informed decision on the way forward. And everyone likes a thank you and some praise!
The fourth step is to seek feedback and improvement from the experts you collaborate with. You should ask them for constructive criticism, suggestions, and tips on how to improve your franchise performance and potential. You should also share your challenges, successes, and lessons learned with them. You should be open to feedback and improvement, and use it as an opportunity to grow and develop.
Think of it as approaching your legal council or any other council, ie expert. Be specific with your questions and importantly, refrain from asking 'what goals should I set' or 'what are my strengths'. You have a vision, including goal posts & key expectations and you have likely, already measured your actions to how close you are to actualization of that vision. Experts should be able to provide very specific insights and set(s) of actions to address gaps. They cannot set goals, measure the success of your vision or importantly, prevent failures.
The fifth step is to build long-term relationships with the experts you collaborate with. You should maintain regular contact with them, and update them on your franchise developments and achievements. You should also offer your help, support, and referrals to them, and show your appreciation and recognition. You should also network with other franchise experts and peers, and expand your knowledge and connections.
The sixth step is to benefit from the collaboration with the experts you collaborate with. You should evaluate the impact and value of the collaboration on your franchise goals and outcomes. You should also measure your return on investment, and identify the areas where you have improved or need to improve. You should also celebrate your successes and milestones, and share your stories and testimonials with others.