The 4 Phases in The Franchise Formula
If you’re an existing franchisor, you may be well aware of the various stages franchisees go through as they learn to follow your system; become proficient franchisees (or not), and then eventually manage several franchises or territories. Or you may be a fairly new franchisor and are at the ‘I don’t know what I don’t know’ phase.
So, the phases are:
Phase 1 : RECRUIT GREAT PEOPLE.
I know from my own experience that building a franchise is a very expensive exercise, so it’s tempting in the early days to simply take on anyone with enough money to buy into your business. The computer sector has a horrible expression - GIGO – garbage in and garbage out, and as much as I hate the expression, I learned first-hand that some of the people I sold MY system to, were not right for me or my business.
Phase 2: TRAIN COACH AND MENTOR. You will need to invest time in new franchisees. The more time you invest in them at this stage, the less time you will need to spend down-track if and when they go off the rails.
Phase 3: DEAL WITH POOR PERFORMANCE. So many franchisors, owners and managers of a business avoid this step like the plague. I’ve spent over 30 years teaching owners and managers how to have difficult performance discussions. If you watch my video clip, you’ll hear the story of one franchisor who allowed a terrible franchisee to continue being terrible for over EIGHT YEARS. As far as I know, and despite my strong recommendation as their coach to deal with the situation, they ignored my advice and just this person keep wrecking their reputation. Crazy hey?
Phase 4:? GROWING YOUR HIGH PERFORMERS. Are you helping them take the next step to buy more territories; bring in business managers so they can take a step back and even bring in a general manager so they can live on a 100% passive income?
IF YOU AS A FRANCHISOR REALISE THERE ARE PARTS OF THESE 4 PHASES YOU’RE NEGLECTING OR AVOIDING, join Chris Baker (PeopleMaps) and myself as we run the following workshop:
‘How to turn around poorly performing franchisees’
Franchisees who:?
Where:???????????????????????????????????????????????????????????????????????????????? The Parnell, Gladstone room,
When:????????????????????????????????????????????????????????????????????????????????? 26th February, 8.30 – 12.30 (morning tea provided)
Investment:????????????????????????????????????????????????????????????????????? $247.00 + gst
MULTIPLE BOOKINGS???????????????????????????????????????????????? $197.00 + gst per person
Chris Baker will cover: How to find the right people first time, every time
领英推荐
?Ann will cover: How to have difficult conversations with poor performers and to work out if they are ‘saveable’?or if they need to be encouraged to seek their fame and fortune elsewhere.
Never forget that 80% of your income as a franchisor will come from the top 20% of your high-performing, franchisees, sadly 80% of your time will be spent trying to motivate your poorly performing franchisees.
?Register right here: PLACES LIMITED TO 20 FRANCHISORS?
Ann Andrews, CSP. Author, speaker, profiler, Life Member PSANZ
Author of:
My Dear Franchisees: A day in the life of a franchisor
Women Behaving Courageously: How gutsy women, young and old, are transforming the world
?NEW RELEASE
Names will never hurt me: How to deal with people who minimize you, ignore you, abuse you and bully you
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Blending business with heart, I help people reset energy, regain balance & thrive. I support growth through health coaching, business development & sustainable living. Let’s connect and create meaningful impact. ??
3 周Love your post Ann. In a past business life I was franchise owner and then a franchise coach endorsed by the franchisor with the naivety of being very successful in business growth and that I could share the "how" easily with the world. When I coached one franchisee out of his business cause he hated it I realised there was way much more to it...so I started the study of the neurosciences. Still grateful for that opportunity and what it has led me to do!
Strategic Environmental Trainer, Keynote Speaker, BHAG Wrangler, helping government, business & professional bodies bridge the environmental skills gap at scale & pace. It's all about Learning for Life on Earth.
3 周Outstanding insights here, Ann Andrews CSP !