When you’re looking to transition away from working in a business to owning a business, there are some key factors to consider in how to build a successful company. However, you can get a head start by joining a reputable franchise system. There are different requirements when it comes to how to manage a franchise given the structure that accompanies a franchise opportunity. Here are five things you need to know about managing a franchise successfully.
Commit to Following the Franchise System
Franchises are proven businesses. The franchise founders were once independent business owners who developed a model that allowed their concept to be replicated by others in a successful way. It took years of work with the help of experts to define the final model. From the everything the customer sees, to the behind-the-scenes operational procedures, every element of the franchise model has a purpose. Be diligent in following the franchise system.
Be a Relationship Builder
Franchising is built on connecting to people and it starts with the franchisee-franchisor relationship. Managing a franchise means being able to connect with customers, employees, community members and fellow franchisees in a meaningful way so that a relationship develops. Relationships build trust and trust builds business.
Learn to Recruit and Retain the Right People
One of the most important skills you can bring to your business is learning how to hire and encourage your employees. Your franchisor should have a good foundation when it comes to recruiting the right people, but your skills in managing people are critical. You will depend on your employees to run the business as per the franchise model, be ambassadors for the brand and take on delegated tasks. The more you learn about managing people, the more skills you will have to be successful and build a loyal and committed workforce. Take any extra franchisor support or additional training that will continue to enhance your human resources acumen.
Be an Ambassador of the Brand
Regardless of how you choose to be involved in your franchise - fully hands-on or in a managerial capacity – choose a franchise you can commit to promoting. Every business owner is the face of their business, but a franchise owner is the face of a major brand in the marketplace.
As the key person in your franchise, having a genuine interest and belief in the business will make managing a franchise much easier. When you have trust in the product or service, you can promote it effortlessly to customers and encourage employees to do the same. Use all the tools your franchisor provides to build your profile in the community and maintain a positive attitude that supports your personal commitment to your business.
Manage Your Time Efficiently
You have many responsibilities as a business owner and efficiently managing your time is a skill that will improve your success in managing a franchise. Being able to meet your franchise reporting deadlines, delegating to employees to ensure the business runs smoothly, and creating a work-life balance all involve knowing how to prioritize the tasks for which you are responsible.
If you need to improve time management, reach out to your franchisee network and ask what has worked for them. There may be approaches they have used to be more effective with meeting commitments that you can adopt in your business as well. As a franchise owner, you are not just responsible for your own work, but also for overseeing the work of others, so you need to have some leeway to deal with unexpected situations or important issues that arise.
How PrimoHoagies Supports Franchisees
In the PrimoHoagies franchise system, we pay particular attention to helping our franchisees with the management of their business. We have an entire team of the fast-casual restaurant industry's finest training staff to teach you the ropes and support you throughout your franchise career. We have strong vendor and manufacturer relationships that contribute to our high-quality operations. And, our award-winning marketing team is always working for franchisees in promoting the brand.
When PrimoHoagies first opened, it seemed like there was a hoagie shop on every street corner. We committed to building a gourmet sandwich brand that surpassed our competition because we never sacrificed quality. That continues to be our commitment to franchisees today as the fast-casual brand anticipates a CAGR of 10.6% from 2021 to 2027.
We are looking for self-motivated, entrepreneurial-minded people that are committed to working and love to serve the community. If you’d like to learn more about the PrimoHoagies franchise opportunity, fill out this form and one of our representatives will be in touch.