Business Franchise (Autumn 22)
In this Business Franchise (Autumn 22) edition we compare a franchise relationship to that of an extended family.
Our consultant Nick Williams talks about the advantages of being part of a franchisee network including support, security, strength in numbers and proven success.
Read the article in full and also the whole magazine in this digital version.
A franchise relationship can be likened to that of an extended family in various ways.
Support systems
Franchisees benefit from the franchisor’s support, which includes training, marketing assistance, and operational aid, creating a structured support network essential for success.
Shared identity
Franchisees adopt and represent the brand identity, values, and mission of the franchisor. This contributes to a cohesive and unified brand image across different locations. This shared identity helps franchisees to feel part of something larger than themselves, enhancing their commitment and loyalty.
Security
Franchisees operate under the established brand and business model of the franchisor, which offers a level of security through a proven framework for success. This security helps franchisees feel safe and confident in their endeavours, knowing they have a reliable network to rely on.
Strength in numbers
In a franchise, the collective strength of multiple franchisees operating under the same brand creates a powerful presence in the market, enhancing the overall success and recognition of the brand.
Mutual benefit
In a franchise, both the franchisor and franchisee benefit from their relationship. The franchisor expands its brand reach and market presence, while franchisees gain access to a proven business model and brand recognition.
All of these factors interlink and form a supportive and promising opportunity for the franchisee. Of course it is down to the franchisor to provide the resources and time in order to train the franchisee. When done right it is a win-win for both parties!
Ready to be part of a franchise family? We have complied a handy due diligence checklist to get you started.