Business-minded individuals who are doing well in their business should learn from the expert’s advice on 4 Best Practice to Grow Your Franchise Business. Entrepreneurship entails big responsibility and it can be extremely complicated. You have to exercise certain skills in leadership, counseling and directing your employees. And true enough, every businessman wishes to grow their business whether it is small or large and as the chief, you have to implicate all the actions and be the role model for the credibility and productivity of the business services.
4 Best Practice to Grow Your Franchise Business will help you grow your current business and venture out in a larger group of customers. Everything starts with a simple step. As a businessman, you have to consider the basic steps towards the bigger scope of franchising. And before thinking of growing your business, you have to ensure that the current business operation is well executed and offers a great service. Also, the current location or locations should be profitable before you open more. If there are lapses, you have to think of a solution and formulate alternatives before opening another franchise. To achieve this, taking advice from people who have already succeeded is a great place to start. It’s always good to seek words of wisdom from the experts.
Here are the 4 Best Practice to Grow Your Franchise Business as cited by the experienced business owners;
Eric Fairbanks, owner of two restaurants in North Carolina
Focus on operations first and then marketing. Operations are having the right person running your restaurant, following the procedures, training the team, and then backing them with good systems and support. The rest will follow. The baseline for marketing is community involvement. Personal relationships with local schools, churches, athletics, and business leaders go a long way with local marketing.
John Doyle, owner of nine restaurants in Ohio
You have to have an infrastructure in place to grow. You don’t want to grow too fast. Going from one to two locations is kind of like having multiple children. Two stores feel like three or four when you have to split your time and resources. So make sure you are completely ready before you make the move. Check your system, is it working smoothly without your management? Can you leave the rest of the team while you doing some management stuff in your second store? If so, you must be ready to add a new project.
Jeff Kelsey, owner of nine restaurants in Kentucky and Indiana
Have both short- and long-term plans. Conduct new market research and see if you miss something behind the scene. Pay attention to the details and hire individuals who believe in your values and culture—don’t just hire warm bodies. A strong working culture within your organization will help your business grow.
Don Robinson, owner of 20 restaurants in Kentucky
Focus on developing a strong team and culture inside your four walls before trying to increase traffic with promotions. Prepare your team to meet all the demands of your customers. Customer engagement will help your new business survive.
The 4 Best Practice to Grow Your Franchise Business advice by the experts will help you manage your business before deciding to step up and add more franchises. Growing is a natural step once you have a successful and profitable business. Growing your business without preparation is a risk to your business. To maintain your success, avoid pitfalls like growing too fast and never lose focus on operational excellence. Again, its always an edge to do more research on things that you need to learn. Make a checklist. Start from there.