When someone says “franchise business,” we all think of the common things:
A recognizable brand.
A consistent experience.
Standardized products and services.
I mean, it’s a little like making mac and cheese from a box. Add water (or milk!) and stir.
But, I’ll let you in on a little secret.
One of the biggest advantages of franchising is so not-sexy that most folks don’t even think about it. Something that offers advantages throughout the franchisee’s journey, not just when initial excitement and motivation are high.
What is this underappreciated sorcery, you ask?
Support and education.
No joke – they can turn your boxed pasta into a 5-star gourmet meal.
Most new business owners who are going it alone make mistakes.
Lots of mistakes.
There is wheel-reinventing, missteps due to inexperience, and unless you happen to be a serial business starter, just about every kind of learning curve.
Support and education can be such important elements that Digital Marketing Guru Adbhirup Bhadra calls them the “backbone” and “cornerstone” of a thriving franchise system.
“[Franchise support] is crucial to equip [a franchisee] with the necessary tools and knowledge to thrive. [Education] plays an equally vital role, ensuring that franchisees understand the brand’s values, processes, and best practices.” (LinkedIn.)
Franchisor support can vary widely across industries and individual companies. Some franchisors have taken their operational and educational support to the level of a legit superpower.
Others have…not.
So we put together a little primer on what gourmet-level operational and educational franchisor support can look like.
I signed the franchise papers! Now what?
A thorough, well-thought-out business plan is one of the keys to getting a new business off the ground.
It can also be one of the most challenging things to create. Did you include all of the important things? Plan for contingencies? Do the numbers work?
It’s hard to know what you don’t know.
Fear not, intrepid entrepreneur! (I’ll bet you know where I’m going with this…)
Your franchisor typically has your back with tried and true business plans honed from years of experience. No starting from scratch or guesswork needed.
“Because the franchisor has worked with many franchised businesses they have already discovered what works and what doesn’t. They’ll know the best methods and systems to create a profitable business and have already tweaked the business plan to perfection. As a business owner, this can help provide security and will increase your chance of success.” (OpenWorks.)
Next stop: business building 101
Now it’s time to get into the nuts and bolts of putting together your day-to-day operations. This is another area where your relationship with your franchisor can propel your business launch to warp speed.
Sometimes this can come in the form of an Operations System Manual that outlines business systems and procedures for you. No wheel-reinvention needed!
These manuals vary from franchisor to franchisor but can be pretty soup-to-nuts. It can lay out systems and procedures for things from HR and Finance to Security and Cleaning/Maintenance.
Some franchisors will even provide industry-specific support, so you don’t have to staff those in-house or hire someone hourly.
Some take it to the next level, helping you with details that can quickly become overwhelming as you juggle all the things.
Motto Mortgage, for example, will download as much of their industry know-how as you can handle, and will even help guide your office opening events for maximum impact. They provide support for loan originators, hundreds of hours of on-demand and live education, compliance support (it’s a BIG thing in mortgage), a recruiting liaison and more.
(Seriously. They’ve got this stuff dialed.)
The best of both worlds
74% of all consumers prefer to buy locally rather than order online. (CapitalOne Shopping.)
That’s 194 million people that would potentially rather come to you than hit up Amazon.
And while you walk like a local small business, you can also carry the big stick of your big business big brother.
As a franchisee you can have it all – the small business feel, small business reputation, and small business street cred, but with all the resources, buying power, and proven systems of your franchisor.
Some franchisors, like Motto Mortgage, even have a community outreach program to help you make your mark as a business.
No googling for ideas, no wasted time, just wins for both your business and your community.
Leap tall buildings with a single bound!
One big advantage that large businesses have over smaller ones is the power of the almighty dollar. Or rather, lots (and lots!) of dollars.
No matter how amazing you are, if you’re buying 50 of those boxes of mac and cheese, chances are you’re paying more per unit than someone who’s buying 50,000.
As a small business, you don’t need 50,000 boxes. But all of a franchisor’s franchisees in one franchise system might.
Franchisors often have established relationships with vendors and have negotiated lower bulk likely be out of reach for a single small business owner.
These relationships help protect your supply chains, help ensure a consistent supply of products and services, and help maintain consistency and quality. Not to mention lowering your cost of goods so you can potentially raise your profit margins.
Tech to the rescue!
Let’s face it, in today’s modern world, you have to have good tech to survive.
Solid tech can save you time, keeps you on track, streamlines… well… just about everything. It truly makes your business world go round.
But, how do you know how to find the RIGHT tech for your specific business or industry?
Once again, your franchisor can help save the day.
They can point you towards effective POS (point of sale) or CRM (Customer Relationship Management) systems, inventory management software, high-tech equipment… you name it.
Poof! No more hassle, days of lost time, or frustrating headaches from researching dozens of solutions on your own.
And, chances are, they can do it on the cheap(er) too thanks to that bulk bargaining power.
Extra! Extra! Read all about it!
One of the classic advantages of a franchise business is having brand recognition built right in.
Yes, you still need to do your own marketing, but any marketing done by your fellow franchisees or nationally by your franchisor just turbocharges anything you’re doing on your own.
And your marketing? Your franchisor probably has tons of well-crafted and time-tested marketing materials, campaigns, graphics, and whatever else you need to keep your marketing engine humming well into the future.
They may also have great advice about marketing at a local level.
Motto Mortgage even offers a lead conversion system with a few clicks, thanks to a promotional content library and automated client communications systems.
Marketing magic.
Another lesser-known side benefit of being a franchisee is a sense of community. After all, you and your fellow franchisees are all in this together.
Many franchisors have mentorship programs and peer networks that can offer this kind of support. The newbies can learn from the more experienced folks, problems can be group brainstormed, and challenges can be overcome.
This kind of collaborative environment can not only up everyone’s game but can also foster a sense of shared success.
A whole, built-in community to help celebrate every win.
But what about education?
Class is in session!
Comprehensive initial education can be a hallmark of successful franchises. It can cover product and industry knowledge, customer service, marketing strategies, financial and cash flow management… pretty much everything you need to know to grow your business.
This education can take the form of in-person classes at headquarters, online instruction, on-the-job guidance, or any combination. It can also include third-party modules or certifications.
It can even have a cute name, like McDonald’s famed Hamburger University.
Whatever flavor your franchisor offers, the common thread is recognition of how critical education can be to set a franchisee up for maximum progress.
They can also provide education on how to train your people, including onboarding support.
“One area of growing importance is how the franchisor provides you with [education] on how to continually provide training to your own staff.” (MSA Worldwide.)
You get schooled, your employees get schooled, and everyone knows more of what they’re doing so you can get right down to business.
Follow the yellow brick road
No matter how good an initial education program can be, things change.
Industries evolve, rules and regulations change, and consumer patterns shift.
So most franchisors offer some sort of ongoing education program as well. This can be at regular intervals or ad hoc, but a franchisor worth their salt will make sure their franchisees stay on top of the latest and greatest.
Some franchisors will provide a field support consultant who will work with you on an ongoing basis to improve your business performance.
Updates to marketing, supply chains, and new products and services typically come straight from headquarters.
Remember that peer network we were talking about? That can also be a great source of ongoing education, inspiration, and guidance.
“Most franchisors will have regional or system meetings and conventions. In addition to allowing you to meet directly with the franchise system management and staff, and other franchisees and vendors, these are generally one of the most important venues for the franchisor to convey new information and [education].” (MSA Worldwide)
Webinars and workshops are other increasingly popular methods of ongoing education.
Whatever combo platter of platforms your franchisor uses, you’ll have a veritable smorgasbord of education opportunities to whip you and your staff into a lean, green, business machine.
With the support and education offered by franchisors (like Motto Mortgage), your franchise business has access to a well-stocked toolbox designed to help you grow and thrive.
After all, a gourmet pasta meal will beat the pants off boxed mac and cheese any day.
Now, who’s hungry?
Published on July 1, 2024
