Creating Your Franchise Operations Manual: Step 2
When it comes time to branch out into the world of franchising, you’ll need to prepare an effective operations manual to pass on to your franchisees. This manual essentially works as a “how to” guide for your franchisees to follow. However, creating a franchise operation manual can be a daunting task. With that in mind, we’ve developed a 4-part blog series that explores the essentials that every new franchisor should include in their manual. By taking these hallmarks into consideration as you build a manual – whether on your own or with the help of 3rd party entity – you’ll be putting your future franchisees on the road to success and ensuring your brand’s longevity for years to come.
In our last installment we reviewed what should be included as the first component of a franchise operation manual: your company’s story and mission statement. We explored how your brand’s history is the keystone around which everything else is built – how it lets people know who you are, where you have been, and where you see the company in the years to come. Above all, it demonstrates to potential franchisees why they should care about your company and whether or not they should invest in it.
In the second part of our series, and what should be the second part of your manual, we are going to explore exactly what it is you sell and how you sell it. This is the goods and services section of your manual, which must be extremely detailed. It is where would-be franchisees get to peek under the hood and see the real nuts-and-bolts of the operation. Some, if not all, of the following inventory should be explored in-depth:
- What exactly are we selling? Goods? Services? How much and how little?
- How are we selling it?
- How do we develop and prepare said goods or services?
- What are the exact steps involved with providing said goods or services?
- Pricing – how much does our goods or services cost to provide?
- Who are the exclusive suppliers of our goods or services?
- How do we handle customer service?
- How is employee management handled?
- How and when do you report revenues and performance data?
Keep in mind that, while we have boiled down these key steps into manageable sections here, each one must be thoroughly explained within your manual. Remember that whoever is entering into a franchise with you must be armed with as much knowledge as you are able to provide, in order to be successful. The more detail the better. And should you need further assistance or a complete review of your manual, give the Internicola Law Firm, P.C. a call today and let us give you a hand! The number to call is (800) 976-4904.
By admin February 5, 2015
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