Franchising Is An Excellent Way Of Growing Your Business
If you’re a franchise or planning to become one, you need to know how to increase your chances of success.
Making smart choices every step of the way can make a big difference to your franchise’s success. Read on to find out 5 ways make your education franchise successful.
While you likely researched your target audience and market before starting your education business, you may even have to familiarise yourself with the world of franchising. Investigate the various education franchises. Get to know about their business models and structure. Understanding the current market position and structuring your business accordingly goes a long way.
Passion is an important trait necessary for having a successful franchise. You need to be determined and passionate about your business in order to attain a top spot in today’s competitive era.
Dawn Engelbrecht, Founder, Sherpa Kids International (New Zealand) stated, “It’s all about being passionate about education. One can teach you how to run a business but teaching how to like children cannot be taught. So you need to be passionate about children and about making a difference in their lives.”
In franchising, training should be continuous. Your employees are front line in of your education business. Train and re-train your staff on a regular basis. Training them is a good way to show your employees that they matter to you.
Franchisors can promote growth and interest in joining their networks by better educating potential franchisees on the benefits and business model of how a franchise operation typically works.
In a successful franchise, you need a mutual partnership that is focused on growing the franchisor and the franchisee simultaneously. These partnerships listen to its franchisees and support the franchise network for mutual growth.
“Franchisor-Franchisee relationship is of paramount importance because the operation at the ground level is being taken care of by the franchisee; the kind of PNL, the kind of sales and the kind of customer handling that takes place there has to trickle up to the franchisor as well. Therefore, this bond has to be built on trust.” says, Anand Thakur, Chief Digital Officer, Jubilant Foodworks Ltd.
Good marketing is a must for any franchise. The first and foremost job as an education franchise is the sales and marketing of your educational service. Get your marketing out there all the time; analyze the effectiveness of each method. Your franchisor will also take on a certain amount of marketing themselves.