Franchise Success — What It Takes

Standing out as a franchise in your industry is a tricky feat to achieve. There might be too many big names standing in your way. Or perhaps the thing blocking you from franchise success is a bit more subtle. Whatever situation your franchise finds itself in, there are some core concepts that can help you differentiate your brand so you can keep building your business.

The fact is, you’re not selling a product or service anymore—in whichever industry your business competes—you’re selling an instruction manual and telling others “Look! I did it, and so can you! Here’s how.” It’s that “here’s how” that you have to sell to people, people who want to gain the tools they need to run a successful business.

If you want to achieve franchise success, these tips will help point you in the right direction.

Challenge Industry Standards with Innovation

If your business is in an industry that has a lot of competition and few consumer choices, the best thing you can do to achieve franchise success is innovate. By challenging industry standards, you show the customer that you’re a pack leader. And when you can add value to that innovation—saving the customer money—demand for what you’re selling will go up. If it goes up enough, more people will want to become franchisees to try their hand at it

Keep Things Simple for Franchisees

Speaking of franchisees, you’ve got to keep things simple for them if you want to continue adding new locations. If your franchise model is too much work for too little reward, you’re not going to be able to attract new franchisees. One way to make things simple for your franchisees is to help them address problems that they come across. It can be beneficial to invest in support staff to travel to the different locations to help out when problems arise. In fact, doing so can help keep stores that are in need of help from closing their doors.

Find Your Niche

Even in crowded markets, it’s possible to find franchise success. The key is to find a specific niche in your industry that offers something that the competition doesn’t. It can be helpful to focus your efforts locally. Ask yourself who your ideal client is and whether you can give them what they need. Being customer-focused and offering individualized solutions can go a long way in a one-size-fits-all world.

Stay Up to Date for Franchise Success

If your franchise uses technology to deliver its service or product, it can also be extremely beneficial to continue to invest in staying up to date with the latest time-saving efficiencies. Along these lines, maintaining a fresh, clean website and interacting with clients and customers through social media can drive growth and raise sales for better franchise success. By building technology standards into your model, your franchisees can also expect to sees better returns.

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