Franchising a business takes time and dedication, but what makes some franchisors more successful?

At Ashtons Franchise Consulting, we love what we do: helping business owners to franchise their business. But as with anything in life, success varies among individuals.

For brand new franchisors, our goal is to assist them in getting their first franchisees up and running. Some come to us with their pilot or founder franchisee already lined up, while others are unsure where to begin.

Beyond the necessary documentation, several key attributes set successful brand new franchisors apart:

A Great Looking Business:

In today’s world, buyers are savvy and do extensive research before committing. Franchisees are essentially customers of the franchisor. Thus, it’s crucial to present a first-class brand, manage online reputation, and showcase the business in the best possible light. Without this, potential franchisees might not even consider approaching for more information or a conversation.

A Clear Plan and Focus:

Business is much simpler with a clear plan to achieve goals. By focusing solely on the step-by-step actions required, new franchisors can achieve success faster than if they were improvising and juggling other tasks.

Testing and Measuring Marketing Strategies:

A clear plan includes how, where, when, and with what to communicate the franchise opportunity. Only by trying a range of strategies in an organised manner will lessons will be learned (and of course mistakes made). Once an effective formula or combination is found, it should be repeated consistently.

Clear Communication about Desired Franchisees:

Being able to succinctly and interestingly pitch the business and the type of franchisees sought is crucial. Practicing this “elevator pitch” and sharing it in relevant conversations can open up opportunities.

A Winning Mindset and Attitude:

Franchising a business is like riding rollercoaster, with highs and lows, but also some fun along the way! Those with a winning mindset and a positive attitude tend to go further than those who give up easily.

A Great Team:

Not everyone can afford a full team, but it’s possible to have good advisors, mentors, or freelancers. Surrounding oneself with talented people is key to success.

Regimented Franchise Recruitment Processes:

Franchisees join a system, so franchisors need excellent systems to showcase their strengths from the very first inquiry. A solid recruitment process combines automated systems with a personal touch and requires time and skill to develop.

Leveraging Extended Networks:

The “Law of Seven Degrees of Separation” suggests that any two people are at most seven connections apart. Using extended networks (acquaintances, friends, relatives – and connections to them) is a powerful way to find potential franchisees.

Selecting the Right Franchisees at the Right Time:

Early franchisees are crucial. Bringing on the wrong person can hinder growth, while the right person can serve as a case study and example of success. Aligning new franchisee onboarding with a clear plan ensures controlled and effective growth.