Two of the most powerful words that come to mean quite a lot when thinking of ethics in franchising are best practice. What is or is not best practice certainly can and does vary depending on so many factors this article couldn’t possibly contain them all.
Yet the following three considerations strongly tie in with the search for businesses that value insightful best practice policies. Burgeoning business operators do well to focus their eyes on how to integrate the search for best practice policies with the franchise concept that best suits their personal goals.
Best practice implies a results-driven approach that monitors which decisions in business lead to desirable or undesirable outcomes. Decisions leading to desirable outcomes that can be consistently applied are typically chosen over underperforming decisions and businesses therefore thrive when best practice is an important part of decision-making. Every business concept applies its own brand of best practice and best practice is often an evolutionary process that is shaped by everyday experiences compounded by the feedback of business operators over time.
Thus when researching a business, your outlook on best practice will differ from the next person and what you may consider to be best practice in one sector may not apply to another. That is why it is important to closely analyze what your potential franchisor list has in store for you as a business operator in terms of a system built on best practice awareness. By analyzing this, you can better decide which franchisor’s system fits well with how you’d like to do business, consequently increasing your chances of happiness with the brand.
Potential franchisees looking over their list of franchisor finalists to decide which to further investigate can consider the following areas as some indication of best practice values:
1.) History of Inquiry – Does the franchise system in question share a history of inquiry with their franchisees that reveals a strong interest in maintaining best practice? Some mistakes along the way are not an indication of a poor functioning franchise. Rather, how these mistakes are dealt with and how leaders inquire further into the best pathway forward are revealing aspects to meditate on.
2.) Choosing Battles Wisely – Franchisors that know how to choose battles focus energy on what really matters in the business, what will have the greatest affect on the health of the business. What are some major upheavals or changes the franchise system has faced and in understanding the company’s history do you feel connected to the approach when faced with challenges or outside complaints and local regulation?
3.) Communication – How available is the team you will be working closely with and do you feel that there is a genuine connection between your needs and the franchisor’s ability to work closely with you so that you can be heard and supported within the framework of the franchise agreement?
There’s a good reason that best practice policies feature highly on the list of criteria used to annually compile Franchise Direct’s Top 100 Global Franchises. The report specifically considers best practice policies concerning franchise support and training because they are so very important to the overall concept of what a franchise is.
Aspirant business operators typically become franchisees because they want quality, reliable training and support to run a business rather than go it alone. Best practice is considered alongside policies concerning the environmental impact of businesses as well as social responsibility, both of which certainly represent a company’s overall interest in improving and maintaining uniformly responsible operation procedure.