How Listening Can Enhance Franchisor-Franchisee Relationship
Entrepreneur's New Year’s Guide
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Feedbacks are important because they help us grow. Some companies they grow because they take care of suggestions and work on the basis of reviews and feedbacks.
A study of 530 work units with productivity data found that teams with managers who received strengths feedback showed 12.5% greater productivity post-intervention than teams with managers who received no feedback.
A franchisor and franchisee should come together on the same page and share their views and areas of improvement for a collective growth of the brand.
Chaitanya V. Cotha, Director, CKC Group, says “For a franchisor and franchisee relationship, the exchange of ideas and suggestions should be transparent to grow unanimously.”
A little change here and there can make a lot of difference to the branding, which will indirectly reflect on the profit margin.
Also, it will keep the motivation spirit between workers as well as franchisees, further evolving the relationship between them.
If the company gets benefited by the feedbacks or suggestions or ideas, then it should fall on the company’s part to arrange a rewarding ceremony.
A token of appreciation will keep the franchisee’s spirit motivated and a healthy competition will start flowing within the franchisees.
Gone are the days when the regular life was to spend 7-8 hours in the office while leaving the brain at the doormat. Time has evolved and so has the way of doing business.
Feedbacks arise because every brain functions differently using different intelligence, which is why it pushes the learning process more efficient. Franchisee and franchisors can learn from each other a lot. Exchanging ideas, suggestions are an effective way of utilizing the learning process.
Saves from Stupidity
Great thoughts do not rise from rich or educated brains alone; they can hit anyone’s head. While making any sort of change in the ways of doing business, save you from the stupidity and take a feedback from the employee unit.
You might get surprised when you see brilliant ideas following your way from a wise franchisee team and will save you from taking any stupid step.
This article was originally published on Franchise India by Nibedita Mohanta.