7 Secrets to Help Ignite your Franchise
“A great franchise business brings people together.” This was the emphasized statement during the Franchise Asia Conference keynote address of Brad Sugars, the founder and CEO of ActionCOACH USA.
Even though the franchising industry, and business per se, are highly competitive, what ultimately makes a franchise business great is that it is able to bring people together – working harmoniously, competing healthily, and adapting and growing steadily together.
People are an important element in the franchise business model. People are the ones who ideate, develop, establish, implement, evaluate, and finetune the processes, systems, products, and services of the business. This is the reason why people are very important in igniting a franchise business.
According to Sugars, if you want to ignite your franchise business, you should be able to learn, unlock, and understand the seven secrets in doing so. And all of these secrets have something to do with people.
7 Secrets to Igniting Your Franchise
1) Franchising is 80% relationship and 20% systems.
Sugars made it very clear that franchising is not just about systems – it is more about relationships. Building relationships with people and franchise partners is very important in succeeding in the industry. Without forging strong and long-lasting relationships, a franchise will find it difficult to break through.
Sugars also underscored that there should be two-way communication between franchise partners. This high-level communication can be strengthened through the use of technology, open communication, production and distribution of information materials, organizing events, and more. “Building relationships is what ignites franchising,” he said.
2) You need to build your people in your organization.
Once you have established a great relationship with all your people and franchise partners, the next thing to do is to build your people. Building excellent people can be done through training and capability-building programs, bolstering the company culture, mission, and vision, hiring potential leaders and team players, strengthening the organization, coaching, and more.
“The best of the best wants to join the best team, the best people, the best organization,” Sugars said when he shared about a businessman who asked him why he could not get the chance to hire excellent people. The simple answer is the law of attraction, meaning that a great franchise business will attract the best people.