As a franchisor operating in today’s ultra competitive business market, you’re always looking for an edge. At Proven Match, we are too. That’s why in this week’s blog edition, we’ve taken over the task of providing you with some franchise growth tips you haven’t yet tried. Of course, we can’t take credit for all of them, but hopefully you’ll find an initiative or two that you can put to good use in your own business environment.
So what kind of franchise growth tips are we talking about? We prefer the broadest definition possible. That means anything you might read that can lead you to becoming a more productive and effective franchise owner-operator. Presented for your review (and comment), here are five growth tips to consider:
- Conduct Periodic Assessments – Your franchise may be thriving—or maybe it isn’t. But do you ever conduct periodic assessments of your efforts to make sure things are working as intended? Operating a franchise is a busy proposition, but you should take the time to do a quarterly assessment of your goals and see how you’ve measured up once time is up. Be thorough and unmerciful when looking at the individual factors which drive your profitability. If it isn’t broke, don’t fix it. If it is, refine things and get back at it.
- Are You Involved? Successful franchises do not operate on a one-way street. Encourage franchisees to get involved in their local communities. Join the chamber. Take in a Rotary meeting. Get involved with civic opportunities. The people they’ll be rubbing elbows with are the lifeblood of their business, so strive for the right reputation.
- Get to the Next Level – Even if you operate a successful business by your own standards, do you think there is room for improvement? Perhaps it’s time to seek additional training and resources to achieve the next level of success. Is there a relevant trade show you should attend? Is there a leadership course you could be taking? How about an industry specific conference? Any of these exercises might spark your imagination—while expanding your horizons.
- Step Up Your Customer Service Game – Social media is here to stay. Which means your customers have 24/7 access to make or break your business reputation based on their customer experiences. So it’s important to be aware of and tune in to the conversation. Make sure you’re not only building your online brand presence but also managing your online brand reputation.
- Grow Your Reach Organically – Does your business or franchise have a blog? We highly recommend one. Make sure it’s prominently featured on your company website and let people know it’s there. If you can’t write it, find someone who can. Sharing the stories of your business or franchise can create an emotional connection with your brand. Over time, that can grow into customer loyalty. Make sure your entries are positive and share a human side of your operation that you want customers to know about.
At Proven Match, we’re always looking for an edge in what we do. And we want you to do the same when it comes to franchise growth tips you haven’t yet tried.