5 tips to a successful franchise
Making any business a success takes hard work and
determination, and that is no different when owning a franchise. However, when
you join a franchise, you will have their support to help you reach your full
potential and avoid the mistakes that most new businesses make.
Here are our top 5 tips to make your franchise a success.
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Have enough money to invest in and grow the
business
When speaking with the franchise team, be
open about finances and ask all the questions you need to about how much the
initial investment will be and the ongoing recurring costs. Determine how much
you have to invest and look at the projected figures and turnover from other
franchises. Your franchisor will be able to help you with pre-approved
suppliers and providers to help with costs, but the money will still need to
come from you, as it will be your business.
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Follow the franchise business plan
With a franchise, policies, culture and the
business plan have already been adapted and changed over years to create a
business model that is proven to work. Following the training and systems given
to you by the franchise will help ensure your business is successful.
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Recruit the best people
Running a store on your own five (or
sometimes six!) days a week by yourself can be a challenge and hinder your
progress. Having a good team around you can help lessen your workload, improve
output and ensure great customer service.
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Make customer service your number one
priority
Giving customers a great experience
increases repeat sales, helps boost reviews and improves word-of-mouth about
the store, encouraging more people to use your service and return again.
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Continually train and develop your own skills
through the franchise
A good franchise will offer you continual
training from the earliest days of setting up your business. Make sure you
train your employees in all the processes you have learnt. If you need more
help or training, contact your franchise and ask them for support.
When joining Mail Boxes Etc. as a franchisee, the team will
give you all the training, set-up support, award-winning marketing campaigns
and operational back-up you need to help you drive your local sales activity.
If you would like to join a dynamic, thriving network with a
flexible business model, call us on +44 (0) 1608 649230 or email
franchise@mbe.uk.