You must develop good habits to run a successful franchise as a franchisee. Although you will rely on the franchisor to establish good operations, you are still operating your own business and are a separate business owner. This article will outline five helpful habits to build as a franchisee to ensure your franchise runs successfully.
This publication provides you with the fundamentals for franchising your New Zealand business, including set up, branding and management.
Work Hard
Firstly, you must be willing to work hard and remain committed to your job. Keeping up with everything can be difficult if you enter a franchise system with no prior business experience. As a franchisee, you are responsible for:
- managing staff;
- bookkeeping;
- ordering supplies;
- customer service; and
- day-to-day operations.
Learning each aspect of running a business can be daunting. However, it would help if you committed to learning each to ensure your franchise is booming. Not only will you want your franchise to succeed, but your staff will also rely on you. Therefore, dedicating yourself to these tasks until they become second nature will ensure a successful franchise.
Follow Established Operations
Another essential habit to develop is to follow existing franchise operations strictly. When you buy a franchise, you are paying to license its operations. This will help you and your staff build a good routine, resulting in smooth business operations.
Continue reading this article below the formContribute to the Network
A central selling point of buying a franchise is the ability to run your own business. However, you must also remember that you are part of a much more extensive business network comprising numerous franchisees. This will include following the existing franchise operations established by the franchisor. Indeed, this will ensure your business runs smoothly and help maintain brand awareness. To increase the franchise’s value, every franchise must uphold these standards.
You can also contribute to the broader franchise network by passing on any feedback to the franchisor. This will help the franchisor update any processes if needed. It would help if you also embraced changes to the franchise by welcoming new technologies, helping prospective franchisees and accepting new ways of business operations.
Ask for Help
Another good habit you can build as a franchisee is asking for help when needed. Typically, you will not remember everything you learn in training. So, you may find having a refresher later on particularly helpful.
You should consult the operations manual when you cannot remember how to do something. Although, it is crucial to reach out and speak to the franchisor directly when you need additional help or advice. This will ensure you are not letting any issues build up over time, reducing stress.
Be Committed to the Brand
Finally, it would help if you remained committed to the brand you are a part of. It is not essential for running your franchise, although passion and commitment will go a long way. This dedication might look like attending networking events with other franchisees.
It would help if you also respected any change the franchisor implements to the brand over time. Open-mindedness is key to keeping up to date with the franchise’s growth and will ensure you grow with the brand. Of course, not all changes will suit you. However, some changes will be necessary for the growth of the franchise.
Key Takeaways
When you purchase a franchise, you buy the rights to use the franchisor’s business systems, brand and operations. Although you rely on the franchisor to have good operations in place, you are still operating your own business and need to build good habits. Some good habits to build as a franchisee include:
- working hard;
- following established business operations;
- contributing to the franchise network;
- asking for help; and
- being committed to the brand.
If you need assistance helping your franchise succeed in New Zealand, our experienced franchise lawyers can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on 0800 005 570 or visit our membership page.
Frequently Asked Questions
When you purchase a franchise, you buy the rights to use the franchisor’s business systems, brand and operations. This agreement is set in place for a specified period in exchange for an initial franchise fee and ongoing royalty payments.
Some good habits to build as a franchisee include working hard and following established operations. It would help if you also contributed to the growth of the broader franchise network by attending industry events and passing on feedback to the franchisor. Another good habit you can develop is asking for help when needed. Further, you should also be committed to the brand.
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