How Freely Can A Franchise Be Managed?
Stepping into the new shoes of a franchisee, you’ll be ready to take the reins of a quality brand, the one you’ve worked so hard to prove yourself to. The franchisor clearly appreciates your skills, gumption, and creative mindset – that’s why they accepted your investment, after all.
So, in practice, how much will they let you flex your business muscles? Franchise territories have to be uniform in a lot of respects, but there are some freedoms to enjoy. How far does the leash stretch? We’re going to tell you, in general, what to expect…
The staff are yours to mould
Franchisors know what they want from their partners. The company ethos will have been on full display in your preliminary discussions with the business owners, as well as the training periods and Discovery Day you’ll be sent on. By the time you’re opening the doors of a franchise territory, you’ll have a good idea of the experience, skills and personal traits that the brand has thrived on thus far.
You will, however, be given carte blanche authority on who to hire. The procedure of sourcing candidates and conducting interviews falls at your feet. Structure the team how you wish, with the best foresight to an effective service. It’ll also be your job to co-ordinate them around the local area, from site to site.
Spread the word as diligently as you can
On a national level, franchisors like Rainbow International control their marketing campaigns with much rigour and research. The smaller scale, however – that of a particular territory on the map – is yours to imprint. Local marketing aims can build the reputation of your franchise brand, and directly affect the amount of enquiries you field.
Your success rests on raising the profile of your branch around the region, targeting specific demographics and sectors through outreach, and integrating with your professional peers. You’ll be networking a lot, talking and listening to potential clients. The way you promote the franchise is up to you.
Set your own goals
Franchisors want commitment. They desire a strong mind for finance, in addition to the managerial duties you’ll undertake. Making and saving money is your number one prerogative when the business is in full swing.
But you’re in charge of charting your course, and setting goals for each financial year. It should be a given that you’ve got ambitions for growth, but the sky really is the limit if you’ve got the drive to move things forward. Regular check-ins with the central Rainbow team will ensure that you stay on the right path to financial independence.
These freedoms are a valuable aid to your entrepreneurial spirit. Although the franchisor calls the shots for pricing and best practises, there is a portion of wiggle room, all of which will become clear in the build-up to your bid.
Want to start discussing our franchise opportunities? Call Rainbow International today, and tell us how ready you are for the change.