Finding the right franchisees is one of the secrets to a successful franchise business. Recruit prospects who understand your brand and your products and you could be setting yourself up for steady long-term growth. But a franchisee who doesn’t get it, or who doesn’t put in the effort a franchise business demands, can mean huge losses – in money, time, and reputation – that your company may never recover from.
Unfortunately, there’s no formula for finding the right match every time. But there are steps a franchisor can take to protect herself from some of the most common mistakes. Franchise public relations could be the key to getting the most out of your franchise.
Have a plan.
Don’t be surprised during the recruitment process. Prepare applicants for an in-depth program. Schedule an appropriate amount of time to get to know potential franchisees. Perform due diligence. Have a clear set of criteria regarding financial stability and previous business experience, and stick to it.
You probably don’t have the resources (or the patience) for something like McDonald’s famously intensive nine-month training program for franchisees. But any time you spend on the front end of the process isn’t wasted if it saves you from making a deal with someone who would go on to hurt your brand and business.
Be prepared to say no.
The more time and effort you spend in the recruitment process, the more tempting it can be to ignore your best instincts. But you’re not protecting your investment if you choose a franchise partner you don’t trust – in fact, overriding your judgment in a situation like that could cost you significantly more in the long run, and you could find it difficult to untangle the relationship quickly and neatly.
Have confidence in your brand.
This is where a franchise public relations firm can make an enormous difference.
The product or service you offer is the heart of your franchise. But your company also represents a brand. If that brand is too complicated or doesn’t connect with your core audience, neither will what you’re selling. A brand that consumers respond to with enthusiasm and certainty is the foundation of any business, and essential to a successful franchise.
An experienced franchise public relations agency can help you establish a strong brand identity and set your business up for long-term growth. Contact Ripley PR if you want to build a brand – and a better franchise.