The Importance of the Franchisor-Franchisee Relationship
Starting a business comes with a seemingly endless to-do list (which, by the way, is only going to continue when you open your doors.) And while becoming a franchise owner can significantly reduce the prep-work that you would have with starting a business from scratch, there is one thing that often gets overlooked: the importance of a good franchisor-franchisee relationship.
You can do all of your research, crunch all of the numbers, and find a franchise in an industry that perfectly fits your personality. But if you can’t cultivate a good relationship with the franchisor, your business venture could be a bust. The following are a few reasons why the franchisor-franchisee relationship is so important.
When you choose to franchise with a larger brand, it is important that both the franchisor and franchisee are coming from a position of honesty and trust. Franchisors rely on franchisees to represent their brand to the best of their ability, to follow their guidelines, and to help the larger brand to prosper. Franchisees rely on franchisors to provide them with excellent training and support, to give them the benefit of their experience, and the tools to get their business started off right. Honesty and trust, on the part of both parties, are the foundation of building a strong relationship, and strong business.
Yours, Mine & Ours
The relationship between franchisor and franchisee is unique because it is symbiotic, or mutually beneficial. Both parties have something to gain from the partnership. It is important to franchisors that their franchisees prosper because their success reflects upon the brand. This is one of the reasons 9Round offers extensive support to its Franchise Partners to help them to keep their business running as smoothly as possible. Franchisees rely on this support to help them answer everyday questions, handle operations, successfully market their business, and more. Thus, both parties have a vested interest in the success of each location.
Research and Development
Another key advantage to running a franchise is the access to resources franchisees enjoy. One such resource is the research and development conducted by the franchisor. In order for franchisors to gather accurate data about industry trends, they need to rely on their franchisees to communicate and provide relevant information. In turn, franchisees can rely on franchisors to provide reports that they can use to help to build their business. Open communication and information sharing are a vital part of a successful franchise, and a good franchisee-franchisor relationship fosters this communication.
In your search for the perfect franchise, go beyond number crunching. Do more than reading operations manuals and Google reviews. Get to know the franchisor and let them get to know you. Before signing a franchise agreement, future 9Round owners attend Approval Day in Greenville, SC. In addition to touring 9Round World Headquarters, wannabe Franchise Partners meet the Home Office team that will support them in opening their location and in their daily operations, and spend significant time meeting with 9Round founders and key team members. This process helps lay the groundwork for a strong franchisor-franchisee relationship, and it allows both parties to assess whether or not the potential for a successful relationship exists.
Interested in finding out if you have what it takes to own a 9Round? Contact us here and a 9Round Development Representative will reach out to you.