So you want to be a franchisor? These five factors will help make you successful

Franchises, especially veteran brands, have perfected a model that is mutually beneficial for both the franchisee and franchisor, implementing a number of best practices that make the business model profitable. Some franchises see more success than others for a myriad of reasons, but all franchise executives aim to invest and build a franchise system that lasts, remains successful and continues to grow.

Here are five factors that successful franchisors keep at the top of their list.

Create strong relationships with franchise brokers
A good franchisor needs credibility. The more they have, the more units they can sell. Franchise brokers are essential for establishing this with prospective franchisees, so they’re a vital asset for bolstering success.

Be a unified franchise
Maintaining high standards from all franchisees and ensuring the entire franchise network is consistent is important to the value of a system. It shouldn’t matter if you’re in Los Angeles, Chicago or Miami – the customer should receive the same experience no matter the location.

Maintain strong leadership
A great leader, especially of a growing business, maintains transparency and looks out for what is best for the organization. Being knowledgeable about trends, new laws, forecasting outlooks, and caring about staff and employees is a great way to maintain franchise morale and customer loyalty.

Be passionate
No one will buy into a business if they don’t feel passion on behalf of the management team. Buying into a franchise is a huge commitment and it’s important for potential buyers to feel enthusiasm on the part of a franchisor. Confidence and true dedication to a brand is noticeable, so allow it to fuel the sales process.

Cultivate hiring skills
It takes talented and successful workers to run a successful franchise from the inside. Marginally qualified candidates can hinder and slow down the growth and sales potential of a franchise. Just as franchisees must be the right fit for a system, so too do corporate members. Keep this in mind when bringing new people on board.

Nick Powills, CFE, founded No Limit Agency in 2008 and serves as Chief Brand Strategist for the Chicago-based firm. No Limit is a full-service communications agency that establishes and elevates brands by bridging Public Relations, Social Media, Marketing, Advertising, Digital, and a lot of creativity, to best strategize well-rounded and successful campaigns for 50+ global franchise brands. By presenting visionary ideas and building real relationships, No Limit is able to create effective media branding strategies to help companies grow. Nick currently leads a staff of writers, media strategists, designers, social media experts and digital producers in an office think-tank where brands are humanized for strong, compelling media stories. Prior to starting No Limit at the age of 27, Nick spent four years working at a franchise PR agency where he mastered the art of building rapport with media outlets and creating newsworthy pitches for earned media placements. He holds a Bachelor of Journalism from Drake University in Iowa.

So you want to be a franchisor? These five factors will help make you successful

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Nick Powills

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