Opting for a franchise is the best career move to become an entrepreneur. However, buying a franchise will result either in success or in failure. It depends upon how you approach the franchise process or the way you make decisions for the franchise growth. Sometimes franchisees make marketing mistakes, or they build some wrong strategies which leads to a huge setback down to the line. Being a franchisee you need to know some common mistakes that will help you avoid the same fate. In this article, we have jotted down some blunders you must fend off as a franchisee to reach the height of success.
Some well known franchise businesses have excellent training programs and operation support. On the other hand, some business franchisors don’t stick to their commitment and lack adequate resources. However, if you haven’t opted for a franchise yet and are planning to purchase a franchise, then make sure to invest in the right platform. For example, if you want to run a coaching franchise, ensure to approach the reputed institute with huge respect in the market. This will save your time and efforts to establish a business from scratch and you will be benefited with a strong customer base. Read this article attentively till the end to be an efficient franchisee by eliminating certain errors.
Here are some major mistakes you should avoid as a franchisor:
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Going too far away from the brand
The prime advantage of buying a franchise is you will gain access to the national level promotion that the franchisors will do for you. Additionally, you will receive a brand image and customers will trust you because of the existence of your parent brand. However, some franchisees make changes in the branding logo, names, their well known phrases and even the way they interact with customers. Separating themselves from the parent company is the preeminent reason for failure. That is why many franchisors provide brand guidelines and as a franchisor you should adhere to those rules and regulations.
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Not managing online reviews
Digital marketing is an imperative way to advertise your business. Do you know the huge part of franchise digital marketing? Online reviews are the lifeblood of digital marketing strategy. Almost every customer checks reviews before stepping into your business and receiving your services. Therefore, you need to respond to positive and negative reviews because your response is a mirror reflection of your company. Responding to negative reviews will give them a second chance to try. Moreover, responding to positive reviews will build customer’s loyalty with your brand. Make sure to manage some time and check reviews every week and respond appropriately in a graceful way.
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Only using your franchise’s budget
Opting for a franchise is similar to running your own business. You will receive certain benefits of having a parent company which involves being able to use their connections and funding for your franchise’s marketing endeavors. Some franchisees make a mistake and do not invest anything from their pocket for marketing. They simply rely upon franchisors to pay for local as well as national marketing. However, it is possible that your franchisor has budgeted money for marketing their business around the nation. So, you must inquire about the corporation’s budget for such ventures and invest money from your for marketing accordingly.
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Having too much of ego
Does not matter how qualified you are or how much experience you have, you are still dependable. Therefore, if you are stepping into a franchise business thinking that you know everything, you are only doing yourself injustice. You need to be open with other people’s opinions. Always give attention to what your franchisor guides and suggests you. Moreover, you should admit your mistakes whenever you do something wrong. Otherwise, it is sure you will drive your franchise into the ground.
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Recruiting more customers than you can handle
Undoubtedly, strong marketing efforts are important to attract customers to your new franchise. However, you should not overdo it because if you end up gathering a larger number of customers than you and your staff can handle, it will be a disaster. Your staff will be overworked and stressed and your customers will not get satisfied because of long waits and poor service.
Additionally, have you made up your mind to opt for a franchise? Which sort of franchise are you planning to purchase? If it is a coaching franchise, make sure to provide quality coaching in SSC CGL, SBI PO, IBPS clerk etc.
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Not asking for support from fellow franchisees
Being a franchisee, you will be a part of a wide team. Therefore, make sure to connect and build strong relationships with franchisees in the nearby or similar markets. There will be some old and experienced franchisees who have been through all the tests and troubles. So you should take advantage of their experience and try to learn from their mistakes. Remember to ask as many questions as you can and discuss some concerns together.
Conclusion:
In the end, just because you are owning an already established business, does not mean you don’t have any responsibility in its growth. As a franchisee, it is your duty to make a right business strategy and to avoid the above mentioned mistakes to achieve success in your field.
