Does franchising interest you? Would you like to join the thousands of individuals who have joined a chain or franchise network? Does the loneliness of a management position seem unappealing to you? Indeed, several business leaders have to juggle with a managerial burden on their shoulders. This is one of the many advantages offered by the franchise industry: by joining a franchise network, you become part of a group that shares a passion for the same brand, and you have access to a proven formula for business success, ways of doing things, and products and services that appeal to you.
Joining a franchise network also means being able to take advantage of the franchisor's expertise and that of franchise entrepreneurs whose experience is similar to yours. You can help each other, collaborate, discuss, share good practices and thus avoid a silo mentality that too often slows down an organization’s performance. You can develop your business more quickly than if you were alone.
But a good franchise partnership relies first and foremost on the quality of relations between the franchisor and the franchisees. That makes it important to choose the brand you would like to be associated with in the long term; one that corresponds to your values and requirements and that will project a strong culture throughout the network.
Not all brands offer the same benefits; some are in their early stages and require specific skills to support their success. Others, in offering a high amount of structure, take a good deal of stress away from you. However, they require you to be comfortable in a strict environment. In short, there is something for every taste and aspiration.
The chain you choose will affect the direction your franchise will take. When you join a network, you accept the organizational culture in place, the procedures, and the limits imposed by the network and, in return, receive the support offered by the franchisor. The culture of a franchise network will greatly influence what you will experience as a franchisee, your clients’ experience, as well as your ability to become a boss who attracts and retains the best employees. For example, according to a Columbia University study, in an organization with a strong organizational culture, staff turnover is 13.9%, while in companies with a weak culture, it’s 48.4%.
By understanding the high costs associated with recruiting, training and developing employees, you have everything to gain by choosing a chain in which the culture, management and support are consistent with your aspirations.
The working environment, the quality of interpersonal relationships with other members of the network and with your franchisor, the level of accuracy of operational practices, and the management and coaching support required for everyone are all factors that vary widely; depending on your personality, you will be comfortable with a certain degree of management from your franchisor. A commitment to a franchisor lasts an average of 5 to 20 years, depending on the chain. That means it’s very important to carefully choose the network in which you will invest.
Finally, the income that you can expect to earn will vary greatly depending on various factors such as the reputation of the chain, industry and the competitive level of the market in which you want to establish yourself, the level of expertise required to operate the franchise, the quality of the franchisor's value proposition, the franchisor's marketing strategies, your local marketing activities, and your entrepreneurial ability to manage the franchise and to attract and satisfy your clients.
For all these reasons, we analyze your values, affinities and requirements as well as those of the franchisor. Your collaboration can therefore be based on a solid foundation right from the start, benefiting you, your employees, and the entire network. So would you like to join a network of franchisees that suits you? Create your profile now on FlagFranchise!