A Franchisor’s Tips to End the Year Strong

At this time of the year, it seems everyone is saying, “Where did 2018 go?” It seems like only weeks ago the year was just getting started, and here we are, ready to close the book on another chapter. In the business world, specifically in the franchising space, closing out the year on a strong note is extremely important. Are you able to report an increase in sales? A record number of openings? Newsworthy innovation of the concept or your offering? Franchisors around the globe are pulling together the biggest successes from 2018, and gearing up for next year as it falls right around the corner.

To get more insight on how franchisors can end the year strong, 1851 Franchise Magazine connected with Jackie Lobdell, Executive Director of Franchise Development at Slim Chickens. And, Lobdell narrowed it down to three areas.

Put the Franchisees First

Because the backbone of any franchise system is the strong group of franchisees that make up the franchise, it’s extremely important to make sure the franchisees are always motivated, especially as the year comes to a close. The holidays can be distracting and it can be easy to coast through the end of the year. Franchisors have to put in extra effort to ensure their franchisees are sharing the same goals and are putting forth the effort to close out the year strong.

“We are a franchise support focused organization, and as a leadership team, we are highly committed to providing services and support to our franchise family because we value them so much. We have a very disciplined process for our franchisees to set them up for success,” said Lobdell. “But, from the beginning, we also focus on bringing in high quality and very experienced partners.”

Think Ahead to Next Year

While the end of the year can be a rush, it’s extremely important to set aside a good amount of time to plan for the next year. Go over budgets, goals and make sure everything is set before the calendar switches over to avoid falling behind. Although closing out the year can be a whirlwind, the next year will start off on a rocky start if there is not a plan in place. And once you have that plan, follow it.

“It’s so important to plan extensively into the next year,” said Lobdell. “Beyond that, you must execute against that plan very precisely.”

Evaluate the Leadership Team

As you gear up for the next year, take a look at who makes up your leadership team. Are there areas that need to be strengthened to outpace the year before? Who is performing well and what are they doing that others could learn from? While franchisees make up the backbone of the system, the leadership team is a key factor in motivating and steering franchisees toward success.

“We have always put a focus on being a passionate executive team. We want to be a great partner to the franchisees,” said Lobdell. “Last year Slim Chickens decided to put a bigger focus on the development pipeline and since brought on new talent in franchise development. This set us up for a strong year along with utilizing new channels for lead generation.”

With a strong group of motivated franchisees, a solid plan for the next year and a tried-and-tested executive team, the end of the year doesn’t have to be so scary for franchisors. With the right preparation, franchisors will be able to smoothly transition into 2019, while leaving 2018 as something to brag about.