The Most Valuable Lessons I've Learned In Franchising

18/08/2015
Synopsis: With forty years of franchise industry success (including working for the very first Weight Watchers franchise and helping to develop the model for The Mutual Fund Store), Jim Abrams shares the most valuable lessons he’s learned in the franchise industry and with FYZICAL Therapy & Balance Centers, the nation’s fastest-growing physical therapy franchise.

Franchising: The big picture
Any way you look at it, franchising is an excellent business model.
As the member of a franchise system you have a much higher success rate than in a sole proprietorship, and face far fewer hurdles prior to opening your business. And this is in addition to the brand recognition, test marketing, and consistency that are built into any franchise system. Yet best of all is the support that comes with franchising - you are never alone working within a franchise, and that is a very good thing.
After forty years in the industry, I can say the most valuable aspect of franchising is the support network it provides. There will be challenges you face, but having a like-minded team dedicated to your success makes it easier to tackle those challenges head-on. It’s been said that a smart businessperson is one who makes a mistake, learns from it, and never makes it again. Furthermore, a wise businessperson finds a smart businessperson and learns from his or her mistakes. Joining a good franchise system is akin to aligning yourself with hundreds of experts who know the course and keep you on-track for success.
But business expertise aside, perhaps the most crucial asset to overcoming any hurdle is a single quality: empathy. The ability to hear and understand your customers is the key to your success - everything else extends from there.
With that in mind, here are four of the most valuable lessons I’ve learned over four decades in franchising.
1. Give your business purpose
A well defined purpose is what ultimately motivates and inspires your employees. A common ideal gives clarity to responsibilities, and connects your team under a unified goal. The fundamental message should be customer service is paramount. People who seek your services deserve the best possible care and the confidence that you will deliver on that every time. I think of defining purpose like this: you don’t create customers, you simply gain your share of customers, and that can only be achieved through excellent customer service. And great service can only be achieved if internal alignment and support are present - employees must believe that what they’re doing is important and benefits others in a meaningful way.
2. Never get too comfortable
It seems obvious – business owners need to embrace change – but you’d be surprised at how easy it is to get stuck in routine. It’s uncomfortable to change a working system, but it is absolutely necessary. The issue is the old cliché that nothing will last forever: this happens sooner than you think when it comes to success. It doesn’t mean you need to reinvent the entire brand, but you do need to take a regular inventory of current trends and technologies and evaluate how your business is meeting them. And if you’re not, it’s a good reminder that something needs to happen.
3. Have a growth strategy and stick to it
Know what it is you’re setting out to do, with the end goal in mind. If your goal is to hire more employees, or expand to new locations, make sure every day leads back to that goal. Evaluate your progress every six months, and reassess if necessary. The next thing to do is to look at your organization at different stages of the plan, so you work towards your organization’s vision in five to ten years. You have to understand the organization and where you want it to go before you can get the right people to take you there.
4. Encourage independence
The easiest way to spur independence is to set specific goals and allow your team to determine the path. This requires a certain amount of trust, but the confidence that it fosters is invaluable. In other words: view yourself as more of a mentor than a boss. Help your team achieve the goal in the way they want. The fact is that employees may understand their jobs and customers’ needs better than you. Your job is to provide the tools to enable great decisions and allow franchisees and employees space, time, and resources to do so. This doesn’t mean completely removing yourself from the business, as ongoing dialogue is important to make sure everyone is moving in the same direction, but it does mean trusting franchisees to create a culture that fosters growth.
These lessons certainly didn’t come to me overnight, but through years of experience developing the best practices to help my franchisees, employees and businesses thrive. In sum, success in franchising requires trust, and a culture that empowers individuals and above all, encourages empathy. After all, we’re in the business of client service and that is the driving force of how we should approach our work every day.
About Jim Abrams
Jim Abram is Co-Founder of FYZICAL Therapy and Balance Centers, the nation’s fastest-growing physical therapy franchise. FYZICAL was founded in 2013 and now has over 97 locations in 23 states with 150 locations expected by the end of the year.

Fonte:http://franchises.about.com/od/franchises/fl/The-Most-Valuable-Lessons-Irsquove-Learned-In-Franchising.htm?utm_content=20150816&utm_medium=email&utm_source=exp_nl&utm_campaign=list_franchises&utm_term=list_franchises

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