The biggest asset associated with acquiring a reputable franchise is the amount of support you will obtain. Franchisees have an impeccable relationship with their franchisors which fosters success, growth and stability. The added value of support through franchisors entices more people to purchase an established franchise as it omits various obstacles related to business development. The support and relationship which anchors franchisees is the recipe for long-term success and financial growth. Here’s some insight on the advantages and the type of support you can expect from a franchisor.
1. Initial Training
The preliminary support is imperative for future success. Opening a franchise versus a start-up gives you an advantage and allows you to prosper in the market sooner. The franchise business in Canada represents over $100 billion in sales annually and continues to grow. The training provides structure on how the franchise is run on a day-to-day basis. Franchisors are dedicated to seeing their brand grow and succeed and thus are willing to provide all the necessary training. Training comes in forms of : modules, certificates, workshops, hands-on training, management to employee training and facility assistance. Franchisors provide you with the necessary tools, resources and experience to help you start and grow your own franchise. Often times this also involves a Standard of Operations pertaining to all aspects of business development, employee training, insurance, accounting and anything else that is involved in running a successful franchise. Most franchise systems will provide you with a field support consultant who specializes in developing your business performance and works as a point of contact between the franchisee and the franchisor.
2. Support for site development
A huge added benefit with franchise acquirement is the aid for location information. Your chosen location will impact the success of your business and the traffic. Since franchisors want you to succeed, they will guide you on the appropriate path to help you pick your perfect location. The benefit is that the franchisor has the necessary experience to predict which location would succeed and which one wouldn’t. Franchisors will provide you with the support and information regarding site availability, licensing, cost, approval, layout, decor and furniture. On top of this assistance, the franchisor will connect you with the necessary suppliers to help you commence the building and furnishing of your franchise. Another advantage is that franchisor helps negotiate a price for the franchisee to remain within their profit margin. Franchisors have the ability to push their brand into the right location at the right price.
3. Ongoing Assistance
Canada has the 2nd largest franchise industry in the world, and prides itself on the ongoing
assistance provided to all franchisees. This assistance is demonstrated through : in-house consultants, regional promotional experts, regular site visits, constant communication and providing a point of contact. The support doesn’t stop once the franchise is up and running, it is an ongoing relationship that fosters an environment for support and reliance. It also blossoms values such as loyalty and respect. This relationship motivates a proper environment for financial growth and increased success; the type of values not associated with individual start-ups.
4. Technological Support
In order to ensure good communication, flow and consistency amongst all franchisees, proper and dependable technology is necessary. Franchisors and franchisees rely on the same platforms and technology, therefore if a franchisee is experiencing technological issues, the headquarters will get involved. Many franchisors have hotlines and support numbers which can easily be reached to facilitate the experience and development of franchisees.
According to the International Franchise Association (IFA), “The most effective and efficient franchisee support programs are formulated, executed and evolve based on two important factors: the franchisor’s corporate culture and the structure of the support program itself”. Franchisors focus not solely on the growth of their headquarters but also on a global scale, the success of every individual franchise. Great support from franchise headquarters is the differentiation between individual struggling start-ups and profitable franchises.