Here on this blog, we often write about issues from the franchisees perspective. But we've come across quite an interesting blog post that addresses some interesting matters from the side of the franchisor.
Ed Teixeira, who writes the Franchise Expert blog over on the Franchise Knowhow website, has a pretty interesting post featuring four questions that every franchisor needs to ask their franchisees. He writes: "Most franchisors have a network of franchisees in various parts of the country running a business they purchased and capitalized. This relationship presents a significant opportunity for franchisors to leverage marketing power and branding."
But how can a franchisor maximize their relationship with their franchisees? Teixeira asks franchisors to pose the following four questions:
- Are my franchisees profitable?
- Are franchisee customers satisfied with the product?
- What are competitors doing?
- Are we doing the best we can?
These are straightforward but worthwhile and important questions. Ultimately, franchisors need to be engaged and in constant communication with their franchisees in order to expand exactly what their brand can achieve. Ask honest questions of your franchisors and you might be interested in the answers you receive.