Secrets to a Great Franchisee/Franchisor Relationship

As a franchisee, there is no doubt that it is crucial to have a great relationship with your franchisor. Thefollowing is a list of 5 key things when working to build a long, successful and healthyfranchisee/franchisor relationship.

1. Find a Company Culture that Suits Yours

In order to build a fortified relationship in the first place, it is important to find a franchise holds thesame philosophies as you, and strives to achieve the same goals that you have in mind. You can bond onthese things and your relationship will thrive.

2. Do your Research!

As franchisors are going thoroughly research you, and your background as well as financial history, it isimportant that you do an equal amount of research into the potential franchise opportunity:

– Do a Google search of the company, look for reviews and any other relative information. Be sure tofind both positive and negative details.

– Reach out to existing franchise owners and get a feel for their thoughts towards the franchise.

– Go on a site visit.

– Understand what the financial investment entails. This will include things such as the initial franchisefee, equipment and location costs, advertising fees, and any other monthly fees that may apply.

– There are two extremely important documents that will explain every single detail of the relationshipbetween you and the franchisor. These are the Franchise Disclosure Document, and the FranchiseAgreement. Make sure to read every detail of these documents.

3. Trust and Communication

Just like any good relationship, the franchisee/franchisor relationship is formed on a solid ground ofopen communication and trust. This means having open communication methods for the franchisor toinclude the franchisee in everything (newsletters, daily bulletins, meetings, and conventions) andoptions for the franchisee to provide any feedback (dedicated call lines, e-mail, etc.).

4. Responsibility

Maintaining a successful relationship between the franchisee and franchisor means that both sides holdup their obligations.

The franchisor is responsible for things such as:

– Keeping up with the changing pace of technology, customers, tastes, and current trends.

– Providing the franchisee with the proper materials, systems, and training needed to succeed.

– Preforming routine site examinations, either scheduled or unplanned to ensure franchisestandards are being met.

The franchisee has obligations in the following:

– Following the guidelines and procedures to adhere to the operational standards of thefranchise.

– Utilizing local marketing in addition to franchisor advertising.

– Making decisions regarding employee pay structure.

– Timely and accurately reporting sales numbers to the franchisor.

– Participating in franchisor advertising campaigns.

5. Following the Plan with Precision

The plan your franchisor has in place is there for a reason. They have already done the work in seeingwhat produces positive results and what does not. When committing to following this plan exactly as ithas been shown, you are committing yourself to higher chances of great success as a franchisee.

Abide by these practices and you will find yourself on the right path for a long lasting, successful andprofitable franchisee/franchisor relationship.

About FranNet of Texas

The FranNet team of franchise consultants in Texas is comprised of cross-industry experts willing toshare their collective wisdom about franchise ownership. Our team at FranNet Texas is committed tohelping our clients define success, working to find franchises that fit them, and helping them do the rightresearch to make their best decision. We guide prospective business owners towards pertinentinformation about the best franchises to own in Texas based on their skills, strategies, criteria andbudgets and provide support along the research path. For more details visit –http://franchisingtexas.com/