As you start to evaluate franchise companies, they will share with you early on the purpose, goals, and vision of their franchise company.
The franchise relationship between you and the franchisor must be mutually beneficial and rewarding. The long-term success for the franchisor and the franchisee (that’s you) depends on this relationship.
What’s the key ingredient in this relationship; open communications!
Without honest, transparent, and effective communications between the franchisor and ALL of its franchisees, there cannot be a productive, long-lasting relationship.
While communications is the #1 ingredient in a successful franchisor-franchisee relationship, the mixing bowl should also include some participation and input by the franchisees in the direction of the franchise system.
The smart franchisor’s know this; that sometimes the best ideas come from their franchise partners. Why? Because they are active in the day-to-day operations of their businesses and are on the front lines face-to-face with their customers.
McDonald’s Egg McMuffin and Subway’s $5 Foot-Long Sandwich promotion are a couple of very successful examples of the franchisor having elephant ears – listening to their franchisees!
The Franchise Frog