Ways to get started as a new franchisee
Are you someone, who has already purchased a franchise and now are looking to set things into motion? The initial period in any new business is very critical and the same holds true for a franchised business. The initial period will set the tone for the rest of the journey and hence the beginning is crucial. The saying ‘’ Well begun is half done’’ fits franchising perfectly. The initial phase is also critical because as a franchisee you are very excited as well as anxious and in all this, it is very easy to forget the basics. Hence, we give you a few tips on how to get your new franchise going…
Her we go…..
• Purpose In-spite of all the brain-storming sessions and the research you went through, it is very important to keep your purpose as well as objectives in mind. Going through your objectives and purpose once before starting would be of great help in guiding your business in the right direction.
• Set goals Set long-term as well as short term goals, for your staff as well as yourself. The initial period is very demanding and hence it is very important to stay focused. These goals will help you focus your energy in the right direction.
• Staff Hire the right kind of staff. In order to be the best, hire only the best. Your staff will represent your franchise to the consumer and hence it is very important to hire the right people and then provide them with the right training. Make sure that the franchisor provides your staff with all the necessary training.
• Systems Put systems and processes in place to ensure smooth functioning of day-to-day business. These systems might be the ones, already developed by the franchisor or otherwise they should be developed by you. These systems will ensure efficient running of the business. These can be in terms of production, delivery, accounting etc.
• Marketing and Advertising A new franchisee needs to advertise aggressively in order to create recognition in his area of operation. Even in cases where the franchisors brand is well known, one still needs to advertise and market the product well to the target consumer. A new franchisee should have a well thought-out marketing and advertising strategy in order to increase footfalls in his store.
• Legal You should make sure that you have all the necessary permits in order to ensure smooth functioning of your business. In some states using residential property for commercial purposes is not legal, hence hire a good lawyer and make sure he completes all the necessary legal formalities.