To expand franchise revenues, provide plenty of support to every franchisor you have.

As a franchisee, your fortunes depend on how well you can expand franchise revenues and growth.  The formula of franchising is not rocket science. Making the big bucks by franchising your business means quite simply, you get rich when they get rich. So anything you can do to help your partners succeed in every aspect of franchise operations, the better.

Your franchise owners are just as stirred up to expand franchise earnings as you are. They got into owning a franchise of your company for a ton of reasons.  They fell in love with the idea of the pride of owning their own business, of being their own boss and the adventure of building a franchise small business. But above all, they fell in love with the big bucks that can be had running a very prosperous franchise. If they are going to make those big bucks and make your bank account explode while they do it, they will need your help.

To expand franchise income and business, the franchisors depend on your resources and experience.  One area that is under your domain that can vastly increase revenues at the franchisor level is advertising. You don’t have to put TV ads up with talking babies or cavemen to get the word out about the great stuff to be had at your franchise operations. Just use your advertising resources well and it will expand franchise business.

There is a simple principle that is easy to just toss off in a sales meeting but harder to live up to.  But it is the one principle of dealing with your franchise owners that will do more to expand franchise profitability than anything else.  That principle is communication. Whether you one 5 franchises sold or 500, be aware of how they are doing and keep communication active so you know when problems start to rear their ugly heads.  Then you can swoop in to the rescue and make the profitable again.

Take nothing for granted when bringing along a new franchise owner.

The idea of giving franchise help to your franchise owners is even more important. Never take for granted that a new franchise owner is ready to take the ball and run with it toward great success.  The one thing a new franchisor has in bumper crops is enthusiasm to expand franchise customer base and profits. What a new owner of one of your franchises lacks is the wisdom and street smarts you have to make their franchise a huge success.

Starting with the orientation you do, the initial interviews and right on through to when that new franchisor opens the door of their new business, never take the success of that new franchise owner for granted. That new member of your team may be a successful business person but don’t assume they know their way around the franchising game. But If you mother hen all of your franchisors both when they start out and even after they are major league money makers, you will enjoy watching them expand franchise earnings steadily year after year. You will enjoy the big profits they bring to your company even more.

Franchising and the Legality of Oral Contracts

It used to be when one person shook hands with the other this formed a viable contract. As most people tend to believe that this age-old method still applies may be in for quite a shock. More often the “handshake” or “verbal commitment” is good enough for most people… when the deal is for less than a few dollars or a promise to help move furniture. As people’s business practice evolved so to have the business instrument that guides both parties. That business instrument being a physical contract whereupon both make their mark to agree to terms of the “deal”. When it comes to franchising a business or buying a franchised business you’ll find that everything will be in the physical form.

An oral agreement may work for some franchisees but the promises placed must be produced or problems arise on running a successful and financially viable franchise. What one considers to be an oral arrangement most courts would expect you to show proof of the arrangement. Will you win in court? That all depends on your evidence, and really, how often do you record your conversations? As well, some state and county courts do honour oral agreements with a limit on monetary value, say less than $500 USD.
So as a franchisor or a franchisee the rules must be applied that anything that is needed to be done by either party must be written if it is to hold any weight with a court of law. An agreement can be a standard form but it must be approved and signed by both parties which then signify both parties understand what they and the other party must do to fulfill the contract.

Franchise paperwork is rather lengthy and often cumbersome when it needs to be edited as the franchisor may have to deal with rulings from several different states. This contract paperwork must always be up to date and available as you never know when a new franchisee will sign on to represent you.