Steps to improve the Franchisee- Franchisor relationship

Once you buy a franchisee or as a franchisor sell a franchise, then you become a part of a relationship. This relationship between the franchisee and the franchisor will determine the fate of your business. It is very important to nurture this relationship well and make the right moves. Here we give a few tips to make sure that the relationship is up and running

Tips for the franchisor

• To establish a good and efficient communication network with the franchisee • Provide good support to the franchisee in terms of training staff, day-t-day functioning, advertising and marketing. • Develop an in-house publication and circulate it among the franchisees • Have regular training programs and seminars for the franchisee • Institute awards for the best franchisees from a state, territory, district etc • Provide good incentives to the franchisee to improve sales • Also try and keep the franchisees updated with the latest business practices and also the latest technology • Help form a network of franchisee wherein they can interact with each other. • Never be more than a call away • Last but the most important, treat them with respect.

Tips for the Franchisee

• Like the franchisor, even the franchisee needs to play an essential role in marinating and developing an effective communication network. • Provide the latest updates on your business to the franchisor so that he can provide you proper business advice and guidance. • Attend all the training seminars held by the franchisor • Try an become an active member of the franchisee network • Try and keep yourself updated with the latest business practices

These are not words from the bible but they will definitely help you in forging a better relationship with your business partner.