How to Boost Your Franchise Business Growth
In the months before you open your franchise business, you'll look to ways wherein you can maximize your profits. This is your bread and butter as a new business owner. From bringing in more guests, to encouraging them to order and purchase larger services and/or products while at your location, there's certainly a method to your madness: to allow your franchise to grow as much as possible.
After all, it's your livelihood, when business is up, so are profits, and from there you can count on marketing through word of mouth, and so on. Not only in the beginning stages, but throughout the entire tenure of your franchise ownership. How you market and push your band forward can be directly affected in your bank account, as well as your impact on the community.
Boost your growth by:
Networking Locally and Beyond with Other Business Owners
The more people you know, the more people who know you. Get your name out there by attending events, sponsoring local charities, and simply networking with others. Introduce yourself to the masses as owner of that cool new franchise, and watch the connections start pouring in. Remember to be on your best behavior at all times and to offer yourself as a connection first, not as a salesman looking to make a buck. Others will see your genuine spirit and want to help in the future.
You can choose to attend networking events here and there (and chances are you'll be invited to more as your circle grows), or you can join groups that exist in the community. In doing so, you can grow your franchise's worth among connections and folks who want to support your brand.
Put Up a Good Front
When readying your business for opening day, don't skimp on the important stuff. You should have a nice facility in a decent (if not amazing) location. Your store should be clean at all times, and employees well-trained and willing to help the masses. It's incredible how much these seemingly small efforts can impact your franchising brand. Don't overlook the power of a good – make that GREAT – experience at the local franchise.
Not only will customers want to return themselves, but they'll pass on a good word to others, effectively growing your reach.
Push the importance of good customer service from the get-go. Meanwhile, set your standards for cleanliness by leading the pack in picking up trash, scrubbing floors, and more. Sure you have employees, but they're far more willing to work for a business owner who shows they aren't too good to do the job themselves. Set the standard up front and then reap the benefits for years to come.
Meanwhile, treating your employees with respect will also get you far as a franchisee. Workers will put forth their best efforts for a boss they trust. Treating your employees well is also a way to lead by showing them how to treat one another, as well as customers.
Market Toward Your Target Audience
As you grow your franchise business, marketing will be key. This includes all areas of mediums, from print, to digital, and beyond. But as you're setting up campaigns, remember your ideal customers. Who is most likely to shop? Who do you most want to reach? Keep these demographics in mind as you expand to find new patrons.
Through all of these efforts, remember to lean upon your franchise's corporate office to lend their help and advice. As a new franchisee, you aren't expected to have it all figured out. You aren't expected to have any of it figured out, rather to have the drive and skills to learn as you go. Be sure to not only ask for their advice, but to listen to it. Take company policies into account as well, looking toward marketing standards, best practices, and suggestions based on location and size.
Before you open up shop as a new franchisee, there's plenty to plan for in your business growth. Look to these effective methods that can allow your location to thrive, not only in its early stages, but years to come.
By Jessica Terry | Oct 14, 2019 | General Franchise Information