Are you a franchisor facing the problem of unviable franchise stores running losses for you. Are you just a spectator waiting for things to get back on track but still can not see any results. Here is what you can do
A franchisee takes up a franchise to generate profits. When taking up a franchise he might be very sure of his decision but there could be a time when he feels he can’t live up to it and that this is not his cup of tea. But as he is bound by an agreement, he may not see the door to an exit. In such a situation, it’s time for the franchisor to take the plunge and control the situation.
Step 1 Being a franchisor you can try giving the support from your end to the franchisee so that he may be able to get the situation under control. In case he does not succeed, you can get in talks with him and try to get the franchise back from him. All the legal hassles can sure be handled amicably in such cases.
Step 2 Now that you have the command in your hands, it is for you to decide how you wish to proceed further. The most crucial decision here would revolve around which format would you want to run the store on. From here we can devise three paths, which are:
Step 3 Once you’ve made the decision as of which path you wish to choose, its time to give actions to your thoughts. So it’s time to bid a farewell to unviable stores and shift your focus on profit generation!