Tip For Franchise Growth: Keep Your Franchisees Happy and a Fan of You and Your Franchise System
Franchises have remained strong throughout the recession and have even become a haven for those who have been laid off from work‚ retired or have decided to switch careers but one thing that the recession has allowed to rise to the surface is that franchisees are generally not happy with the franchise system they are a part of. Many franchisees feel as if their franchisor is not doing as much as they could or should be doing for their franchisees.
In "Franchisors: Are your Franchisees 'Raving Fan'?" we discuss how many franchisor overlook the one thing that could make a tremendous difference for their revenue growth which is existing franchisees. Existing franchisees who have been treated and received the proper support from their franchisor will more than likely be "raving fans". Franchisees who are "raving fans" are more likely to show a rise in revenue because they are so happy to sell the product or service that their franchisor is offering because they are impressed by the franchisor and happy to be a part of a good franchise system.
So how do you turn your franchisees into raving fans? There are three things that must be done according to Ken Blanchard and Sheldon Bowles authors of "Raving Fans – A Revolutionary Approach to Customer Service":
- Figure out what you want from your franchisees;
- What your franchisees want from you as franchisor; and
- Figure out how to get your franchisee what they want plus 1% extra than what they are expecting.
Finding the answer to these question and points will help you refine your franchise system and should eventually lead to‚ in most cases‚ a higher revenue because of your franchisees being satisfied with your impressive service as a franchisor.
For more information on topics similar to these follow Charles Internicola's blog which offers useful legal information involved in a franchise business.
By Charles Internicola March 18, 2010
Franchise ChannelWhat Our Clients Say About The Internicola Law Firm
- Business Transactions
- Buy a Franchise
- Corporate Counsel
- Firm News
- Franchise Your Business
- Grow Your Franchise
- Intellectual Property
- Partnership Disputes
- Start a Franchise
- Do You Need to Have Multiple Locations to Franchise Your Business?
- Don’t Hire a Franchise Consultant if you see these Warning Signs!
- When is the Right Time to Franchise Your Business?
- How to Improve Your FDD Item 19 Financial Performance Representations in 2021 and Beyond (With COVID Impact)
- Should You Create an Education and Training Business Instead of Franchising?