The decision to enter the franchise world is an exciting one, and it can prove to be very profitable. An advantage of operating a franchise, rather than a start-up, is that much of the framework is already laid for you. With a franchise, you will be able to avoid many of the costly mistakes that startups often make— but this requires leveraging both other franchise owners and local business owners.
Cultivate a Franchise Community
Think of your neighboring franchises as blueprints. Reach out the owners and begin building a relationship with them. You will likely come to find that these relationships will become mutually beneficial as you get closer and closer to opening your doors. Make sure that your fellow franchise owners know you appreciate their help and support, and you will return this favor as you grow. Local business owners are also a great resource to learn more about your specific community and region.
When it comes to establishing communication between yourself and your fellow neighborhood franchise owners, you should look to be added to their regular newsletters or emails, if applicable. Take time to study their communication and cadence. Their marketing strategy has likely been tailored to the owner’s experience. If you can, also actively seek out training classes, regional meetings, or conferences that you may be able to attend.
Hire the Right People
After you feel confident with your research, it is time to build a team that will help uphold your brand’s value. While many homeowners may first turn to your business based on the brand name, it is the value your team provides that will sustain your company.
If you are unsure where to begin, consider creating an outline for your specific goals. Consider: How much day-to-day input do you want? Are you looking for entry-level or experienced hires? What traits will help my team build trust with our customers and their projects?
Tap into your personal network. Connect with other industry leaders. Be mindful of these relationships. Avoid burning bridges or “stealing” from your competitors.
Understanding your strengths and weaknesses as a business owner is also important to building your team. You will want to hire talent who can balance your expertise. For example, if you possess great project management skills, consider hiring someone who’s less experienced in that area at a lower cost to you and train them yourself. On the other hand, if you are less skilled in accounting, seek a more experienced accountant to help your company thrive.
Training and Continuous Support
Cultivating a talented team is an important milestone for your business. For your team to remain innovative and competitive long-term continuous support and training are required. Employee support and training will continue to position your business toward success, as well as improve employee morale. Employees who feel challenged, and see room for growth, are more motivated in their day-to-day responsibilities.
Training also ensures that there is continuity in all areas of your business. A consistent sales process helps minimize errors and keeps employees accountable. A seamless process will also enhance the customer experience, and create loyal customers.
As you look to set up training and development for your team, work with your franchisor for support. If your franchisor provides free resources, training, or materials, take advantage of it.
Marketing and Advertising
Once your business is up and running, use marketing and advertising to help keep your pipeline strong. Word of mouth marketing and brand name recognition may be enough to attract new business, but it is important to reach new audiences.
Use the brand recognition to your advantage, especially in the beginning stages of your marketing plan. Involve yourself within your community on a personal and professional level. Build anticipation for your grand opening. Consider often attending local chamber of commerce meetings, or running ads in local publications.
Modernize Can Help You Grow Your Business
At Modernize, we have more than 15 years experience pairing homeowners with contractors across the United States. Modernize can also help you market your business and reach new audiences. Each month, we help generate more than 100,000 homeowner estimate requests nationwide.
Our goal is to help you reach and serve qualified homeowners. We survey thousands of homeowners each week to learn about their home improvement needs and challenges. We analyze this data to identify new trends. We work on your behalf to bring you results that are targeted, measurable, and scalable.
At Modernize, we see our strength as helping contractors generate sales in the first month. Our clients see optimal results within the first 90 days. You provide the infrastructure, and we bring the homeowners. Our goal is to connect you to new clients in live-time, so you can focus on growing your new franchise.