Does my company have what it takes to be a Franchise System-
(Part 3 in a 9 part series)
We believe that an ordinary business, run extraordinarily is very “franchise-able”.
Systems need to be in place, as well as process, people and policy to run an effective business, but more so in a franchise. Great franchise systems have been developed throughout history with what started out as an ordinary business. The value of the franchise system added benefits to the operating units through marketing power, purchasing power and economies of scale that come with growth and a unified brand. In this 3rd part of the series, we are going to discuss the ability to teach somebody else to run your business.
In order to franchise a business successfully, the ability to transfer knowledge is paramount in order to replicate success and support franchisees in shortening the learning curve in their new business.
Franchisors impart knowledge in three ways:
1 Operations Manuals, Training Manuals and Documentation
2 Initial training programs and franchise implementation model
3 On-going support and Operating Systems
Operations Manuals: It has been said that a franchise can be described as 90 inches of paper. Those 90 inches of paper will most likely be your operation manual. The manual is the cookbook of the franchise, describing everything from starting the business to putting your profit in the bank.
The operation manual is easy to write because you as the potential franchisor live the manual every day. Good franchise operations manuals should have a consistent tone, great formatting and a flow to them that is understandable, easy to read and simple to grasp. Operations manuals today are typically digital and formatted where changes can take place easily.
Initial training: Once the training manual has been written, training becomes easy. The operation manual guides the training. You know how to run your business, the training is the practical application of the training model. Franchise Marketing Systems has had success developing franchise training programs with a heavy influence from videos, virtual support and technology driven training programs allowing for scale and growth within the system.
On-Going Support: As your business grows and evolves, so will your operation manual and your need to impart new knowledge. This is part of the right/reason to ask for a franchise royalty on an on-going basis.
Your passion for the business will make it easy to transfer knowledge. That passion is infectious and your franchisees will want to absorb the knowledge because knowledge is power and that ability to apply that power will affect their bank account.
Rest assured that all this hard work pays off. We know that 100% of franchisees that follow the franchise expansion guideline book are successful! Take the time to actually read a book on Franchising with the ebook:
Read more about franchising in our FREE eBook: http://www.franchisemarketingsystems.com/how-to-franchise-your-business-successfully-ebook/