Now is the perfect time to envision the future of your business and set your sights on new horizons. Is there a way you can elevate your franchise with a clear roadmap for growth?
If you’ve reached a point where you know you’re bottling-necking further growth of your business, let’s explore if franchising could be the answer you need.
It’s the most wonderful time of the year, or so the song goes. When it feels legal to slow down and pause for a while. To enjoy a moment to just be. It’s also when most of us start to reflect a little on what’s happened over the year and anticipate what’s hiding beyond the veil of the New Year.
The end of the year is also, statistically speaking, when around 1 in 3 adults hit burn-out. Overwhelmed by exhaustion, having been switched-on every day for the last 365.
So, where do you find yourself???
If you’ve reached a point in your business when things are going well, but it’s putting increased pressure on your shoulders, then you need to make time to create a plan of action for the coming year. Can you really keep going at the pace you have been?
Are you working on or in your business?
Creating an in-demand business, can generate such a buzz. However, are you the kind of entrepreneur who thinks if you’re not involved it will all fall apart? If you’re not already, you need to schedule time to work “on” the business and not “in” it, if you have any hope of it growing further than you can take it. A growth strategy needs to take you and your business beyond itself, which means analysing where you’re aiming, what’s working, where needs work, and what steps you’re prepared to implement to reach the next level.
For many, this led to franchising, as a means of achieving growth, without having to do it all yourself. It means learning to let go of the reins, handing them over to others who can follow your business model, and work in their business, under your brand, in a new territory. Because, with all the will in the world, when you’re based in Northumberland, but have clients asking for you in London, you can’t be in both places. So, what can you do?
Franchising as an expansion plan
The reason franchising works, is because entrepreneurs build a business which is scalable and can be operated in many locations around the UK – even globally. As long as someone can follow a carefully constructed plan, franchisors see their businesses grow, exponentially. As long as someone is prepared to seek your guidance, implement your training and advice, and work hard in their own business, your business suddenly becomes a national brand. How does this sound?!
Understanding how franchising can work for you
With franchises operating in every sector, yours won’t stick out like a sore thumb. And with thousands of people wanting to set up their own business, under the security of a franchise, you could soon start building your network.
One of the biggest lessons learned since the dawn of franchising, is in knowing the type of person you want to run your franchise. The strength of a brand is in the “pickiness” of having franchisees who become passionate brand ambassadors. To find them, you have to define your business!
- Alignment: Does the company still align with my “why?”, and will others else be able to understand this, so they can align themselves to the brand?
- Business operation: If I was to step back from the day-to-day of the business (the goal), have I defined the methodology so others can run their own version of it? If I was to support others to run a business like mine, do I have clear systems and communications to enable them to do so?
- Care: In addition to self-care – because I want to encourage my franchisees to love running a business, how can I support the care of staff and business development, which will foster growth – both for the brand, and each individual franchise?
Your three-step plan of action:
These are, of course, only the basics of thinking about franchising for the future of your business. If you do decide to explore it further, we can help in three ways:
1. We have a free guide which covers, in more depth, the benefit of franchising your business. Split into two sections, the second part is aimed at people like you who are curious to know if franchising is the right growth strategy. Just complete your details here to download the guide.
2. We also offer a free 30-minute mentoring call to anyone who would like to explore this option further, with someone who has already turned their business into a franchise. To take up this offer, just complete this form on our website, and we’ll find the right mentor to advise you.
3. And finally, we host regional meetings across the UK, which gives you a great opportunity to invest time into yourself, as you explore franchising for your business. Each one is attended by franchisors who have done what you’re thinking about, and specialists who can guide and advise you. Just click here to find out when the next meeting in your area will be.