What’s the big idea?
With market conditions fluctuating wildly over the past two to three years, it might be time to consider the innovative approach to business and transition your company to a franchise.
It’s this marketing concept that’s proving to be a successful business solution for those who are embracing it.
Over the last 12-18 months especially, we’ve seen some larger and smaller boutique franchise and marketing groups coming out with some highly innovate systems, branding and marketing products – which is undeniably something they need to be doing in order to remain relevant in the years ahead.
Market conditions have remained a challenge for real estate agents across the country, negatively affecting a lot of businesses over the last one to two years. Consequently, there’s been an uptake of independent business owners asking themselves what they can do to potentially boost business – inevitably gravitating towards franchising.
Why are some more successful than others?
Transitioning your business to a franchise is all about adapting and changing your thoughts to create the right results for your business.
A lot of the successful brands, especially the ones that have recently emerged, have a much greater understanding of what business proprietors are looking for, what products they are seeking, and they are able to deliver mobile, adaptive and innovative franchise systems as result.
The biggest feedback we hear from successful franchises is that it’s important to go into it treating it like a business partnership and making sure that whatever franchise group you join, they offer the tools, business and marketing support, systems and training that you need to stand out.
Change the thought, change the result
The past few years has seen franchising experience a degree of reticence within the marketplace
The days of thinking that putting a brand out the front will grow your business are completely gone.
Now that conditions are changing across the country and it’s more critical than ever to focus on running a business properly, we are starting to see and hear of a lot more people re-visiting franchise and marketing groups simply by virtue of these great systems that we are seeing these people develop.
The biggest issue most people face when they are transitioning into a franchise is they expect the franchise to run the business for them and they expect that putting a brand out the front is automatically going to make the till ring – well it won’t. It will hugely lift profile and brand awareness but the “heavy lifting” is still down to the business owner.
To minimise risk, you need to enter into the partnership with the idea of investing in systems that add value to your business, as opposed to the brand itself.
A lot of franchisees become very complacent inside their businesses. When things become tougher they blame the franchisor. Rather than treating the franchisor as an operating cost, they should be looking at what is at their disposal and how to improve from using those tools.
The way to address franchising is to simply change your mindset, change the result and you may be very pleasantly surprised.