I saw a post from Global Franchising that warranted attention from franchisors as we move into 2021. All too often I have seen franchisors this year bury their heads in the sand and not communicate with franchisors. This article discusses six things franchise executives must do to prepare for 2021.
For me, it’s all about #1 in the article. Franchisors must proactively reach out to franchisees before the end of the year. For many franchisees, it has been a tough year. Taking the time to personally reach out to franchisees will pay off dividends for your business in the long run.
You’ll find that the activity of having your executive management team personally check-in on franchisees between now and through the end-of-the-year won’t take much time and will provide you with the greatest ROI of almost any investment or activity that you can undertake. The insights that you’ll receive are critical for the budgeting process, and a simple call will go a long way in showing your level of commitment and conveying how valued your franchisees are.
I think if there is one thing this year has taught us, it is that personal relationships are most important. Would you believe that I have actually seen franchisors that have not communicated with franchisees during this entire pandemic? By reaching out to them at least franchisees will know you care. The other thing is that you may be able to offer valuable advice that a franchisee can use to improve their business during this difficult time period. But also, YOU will be able to come away as a franchisor with important objectives to meet in 2021 to make your franchise offering even more valuable and successful for franchisees.
The article talks about how you may also be able to use third parties to conduct research on your behalf. While not a bad idea, I would definitely recommend your franchise management team reach out to franchisees rather than a third party. This is not the time to outsource. This is the time to roll up your sleeves and do it yourself. You will not regret it. If you haven’t reached out to your franchisees this year, be sure to do it now. I guarantee (and you typically won’t get guarantees from a lawyer) that it will pay off positive dividends for your business!
There are five other tips worth considering in the article. Be sure to give it a read.
If we can help you out with your franchising needs as you enter 2021, be sure to give us a call.