George S. May Business Blog

Tips for the franchisee to stay successful

Here are a few pointers for franchisees who are just getting off the ground:

1. Respect the company’s business model and brand, don’t reinvent it. The fact is, the reason you decided to franchise a particular company is, likely, because you already saw its success. Why try to change up a business model that has been working? Embrace it and focus on utilizing its strengths to create a successful franchise rather than wasting time, energy and resources in trying to make it your business model. The same goes for its brand. Take Subway, for instance: every single one of Subway’s stores uses the colors green and yellow for their decorating and signage. That way, as people walk/drive by they don’t even need to read the word “Subway” as they already know from the shape/color of the sign. No matter how creative/cool/innovative your new sign may be, the fact is, trying to change the logo would ultimately take from your credibility. The bottom line is that people go to franchises because whether they are in Tampa or Topeka, they know they are going to get the exact same product every time they walk into a store. Don’t make them think that your store will be any different than the others they have been to.

2. Be opposite of what got you to become a franchisee in the first place. Unless you were handed a large sum of money (inheritance, lawsuit, etc.) you almost certainly became successful by displaying qualities that others around you did not; i.e. thinking outside the box and then executing it to perfection. Well, now that you are in a new field it is time to go back to square one. You have lot to learn about this new business before you can start applying your knowledge from the past. Learn it, internalize it, become good at its success attributes, gain your success, and then see how your past could be helpful to your business.

3. Stay up on new ideas/schemes that the franchisor is introducing. Collaborate with the franchisor in testing ideas and programs. Work closely with other franchisees in help them as well as learning from them. The saying “two heads are better than one”, as cliché as it is, absolutely holds true. Especially when that second head has been doing it a lot longer than you have. In the end, as the franchise as a whole continues to get stronger so will you and your business.

4. Don’t give up. No matter what we pursue in life, there will always be speed bumps and road blocks. Understand that this is just a part of being a franchisee, learn from those blocks, and make adjustments so to avoid them in the future. Believe in your own success.

Ok that’s the list for now. Please, if you are a franchisee or have past experience doing so, any bit of advice is warmly welcomed.

Related posts:

1. Dubai World Struggling to Stay Afloat Dubai’s government announced on Thursday that it would infuse up to $9.5 billion into the much publicized, but slow selling Dubai World. Dubai World is...


2. Ben Bernanke — Will he stay, or will he go? Despite being named Time’s “Person of the Year”, coupled with the fact that the Senate Banking Committee has already voted him through, many seem to...


3. GM taps Ed Whitacre Jr. to stay on as permanent CEO The Detroit News is reporting that the search for GM’s new Chief Executive Officer is over. Ed Whitacre Jr., the current “interim” CEO will take over the...


4. Housing prices in California stay put for November — First time in over 24 months California homeowners should be able to breathe a bit of a sigh of relief with this news. Dec. 15 (Bloomberg) — Southern California house and...