Becoming a franchisee is a way to successfully build your business. There are many key factors for franchise success. Discover five of them.
1. The quality of the concept
A franchise provides you with a concept, generally tested over several years before being rolled out. In a franchise, the concept combines several variables. These include, first and foremost, a business name and a visual identity. It also encompasses expertise, including knowledge, methods, and tools to leverage the concept and make it profitable. Finally, there is a catalog of products or services, as well as a network of partners and suppliers available to the franchisee.
The franchisor’s ability to define a quality concept, formalise the variables and pass on their know-how to you is absolutely crucial to the success of your project.
2. A high-performance network head
Responsible for defining the concept, the franchisor makes strategic choices such as the network’s organisational model, its operation, and the relationships between itself and franchisees. As the guarantor of the development of the network’s various members, it must mobilise the necessary resources (human, material, financial) and skills (strategic, operational, legal, organisational, commercial).
Communicator and unifier, his role is to guide you towards performance.
3. The reputation of the franchise
The success of a franchise also depends on brand awareness. Quality communication and a digital presence, particularly on social media, will make a difference with consumers. They play a major role in brand recognition and promotion.
Franchising plays an essential role in communication and being able to rely on a well-known and recognised brand will considerably help you start your business.
4. The franchise’s ability to innovate
By adapting to change, a franchise proves it knows how to stay ahead of the curve and innovate. It doesn’t rest on its laurels and knows how to constantly reinvent itself in the face of changing circumstances and developments.
Raison Home proved this from the start of the Coronavirus health crisis by adapting its operating methods: implementing teleworking for designers, organising web meetings, deploying innovative tools and making remote appointments to continue supporting clients in their projects…
5. Sharing
Sharing is the key to shared success. You’ll achieve success together, by engaging with the network manager, business experts, and your fellow franchisees. A sense of belonging is a key success factor in franchising, and it’s often very strong. This is evident in participation in events dedicated to dialogue (conventions, meetings) and in internal tools dedicated to communication (internal messaging, intranet).
Of course, the success of your business won’t depend solely on the franchisor. Tools, methods, support… many keys to success are combined. It’s up to you, for your part, to demonstrate motivation, involvement, initiative, and optimism.