Franchising · 30 November 2016

Franchising A-Z: The franchise journey How to get the most out of it

journey
From redundancy to lifestyle change There are many reasons why people choose to begin a franchise journey
The latest post in his advice series covering all things franchising sees ServiceMaster’s David Burton cover the franchise journey.

Right back at the beginning of this series, we looked at some of the motivations behind a prospect wanting to make the move into franchising and invest in your brand.

These ranged from redundancy and lifestyle choice to career change and route to startup. In the early days, franchisees? general ambitions are all broadly similar in the long run invest, build and sell.

By utilising the knowledge and skills of the many teams within the organisation and by simply applying the franchise model, ServiceMaster franchisees have a relatively fail-safe route to achieving their franchise journey goals. The time it takes for a franchisee to realise these goals is largely down to their drive and commitment to achieving them.

There arent many businesses that realise their ambitions in the first five-year of a franchise journey, and choose to move on at that point, but the five-year term allows flexibility for both the franchisee and the franchisor.

Investing in a franchise isnt buying yourself a job for life. The savviest of investors view a franchise as an asset to build and sell when the time is right.

This could be in 10 or 20 years? time, but the length of the individual journey for business owners is determined by themselves, assuming they remain in good standing with regard to the franchise agreement.

Within franchising, there is a three phase life cycle all franchisees go through, which we broadly identify as we, me, fee.

These stages can develop quickly or extend over many years, but it presents a challenge to the franchisor in how they engage, coach and deliver for franchisees.

We you’re a new franchisee. you’re excited to make your business a success and the franchisor is there to help you. Were in this together? you follow the model as proven by the franchisor and you are happy enough to pay the agreed royalty fees in return for the support and guidance you receive to help you succeed.

Me you’re a few years into franchising now, perhaps you’ve just signed a new franchise agreement and you know what you’re doing. Business is good or maybe it’s a challenge but you can get through it, you’ve done it before.

you’re an entrepreneur, you’ve built this fantastic business and you employ a great number of staff. When the franchisor calls or holds a meeting, you don’t really feel the need to attend, you’ve heard it all before right?

Fee you’re a dab hand at this franchising business. Your client list is extensive and you’ve brought all this business in on your own. You don’t need or request any support from the franchisor, so why are you still paying your franchise fees?


 
TAGS:

ABOUT THE EXPERT

David Burton is the communications executive at ServiceMaster, one of the UK's longest established and largest multi-brand franchisors. With a background in public relations, he provides communications support to the 350+ ServiceMaster franchises and is an advocate for franchising as a proven route to business success.

Business Law & Compliance