by Larry Reed | Dec 1, 2023 | Franchising
Choosing a franchise is an exciting time for an aspiring franchisee. There is so much to learn and take away from this new opportunity that has been presented to you. But before you begin your franchising journey, it can be helpful to speak with franchisees of the franchise you are interested in to get a better idea of how it operates.
This blog will offer up the questions you should ask your fellow franchisees about the franchisor, costs and the daily operation of the franchise.
Questions About the Franchisor
There is no relationship in franchising more valuable than the one between a franchisee and a franchisor. When speaking to your fellow franchisees, you should ask questions that focus on the dynamic between the two. It can be helpful to know how involved the franchisor is in the decision-making process and whether they offer training and support to their franchisees.
It would be best if you also asked about the franchisor’s background. Try to get an idea of their level of experience. These questions can help you understand how the franchisor works and what you should expect if you join that franchise system.
Questions About Costs
You will want to know everything you can about the costs and fees for the franchise you are interested in. When speaking with fellow franchisees, it may be helpful to ask questions about the initial investment for the franchise and how fees are structured.
You should also ask about any hidden fees or unexpected costs that they may have encountered. And while it may be an uncomfortable conversation, you should ask about the return on investment. This is information that can be helpful to you.
Questions About the Day-to-Day Operation
To get a sense of what you will be doing from day to day, you should ask questions about the daily operation of your franchise. You can ask questions about customer relations, managing staff and any common challenges they face. It may be helpful to ask about their daily schedule and how many hours they work.
Don’t hesitate to ask what they like and dislike about owning a franchise. Finding out all you can about the franchise will help you to be more prepared!
If you are ready to start your career as a franchisee, get in touch today to get started with a free consultation.
by Larry Reed | Dec 1, 2022 | Uncategorized
If you aren’t actively trying to keep your employees engaged already, you should be. Studies show that upwards of 85% of employees are actively disengaged in their current workplace. But what does this mean for a small business owner?
Employees who are not being engaged tend to be less productive in the workplace. There also tends to be higher turnover, a lower retention rate and poor employee morale in these types of workplaces.
In short, not encouraging engagement with employees can hinder your business, hurt your brand’s reputation and cost you a lot of money.
Fortunately, there are many ways you can strive to keep your employees more engaged and happier in the workplace!
1. Create the Right Environment
As a franchisee, you may not always have a say in the setup or layout of your business, but you can work to create a welcoming, positive environment for your employees.
Easy ways to do this include demonstrating a positive attitude, recognizing accomplishments and having the necessary equipment available at all times. Helping employees have a better work-life balance is another way to create an environment that individuals would like to spend their workdays in.
2. Professional Growth Opportunities
When it is time to fill a position, do you post a job online or hire from within? Making it known that employees have the room for professional growth within your business encourages them to work harder within the company.
If the opportunity for a new, higher up position becomes available, there should be an adequate opportunity for current employees to put in an application. Let the candidates have a fair shot at the position. It is never a good feeling to be passed up for a job you believe you’re qualified for!
3. Employees Are People, Too
It’s easy to get caught up in the business side of, well, your business. There are so many meetings to attend, goals to reach and tasks to complete. But it’s important to remember what (or rather, who) is making your franchise function and succeed on a day-to-day basis.
Your staff members are, first and foremost, people. Yes, they are the strategists, managers and other important personnel that drive your company, but they are human.
They require understanding, compassion and encouragement that every person desires in the workplace. Empowering your employees can improve motivation and productivity, which benefits your business in the long run.
Keeping your employees engaged is something you should always strive to do! It’ll help reduce onboarding costs and improve overall employee morale within the workplace.
Get in touch today to get the support you need to build your business!
