Get All Access for $5/mo

How Listening Can Enhance Franchisor-Franchisee Relationship Communication is the Key for Success but Listening Comes First.

By Franchise India Staff

This story originally appeared on Franchise India

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Shutterstock

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.

Collective Growth

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."

Motivation

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.

Healthy Competition

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.

Learning

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.

Data & Recovery

This Two-Year VPN Subscription Is Only $89

Block dangerous websites and stay off sketchy networks with this VPN subscription.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Marketing

Trendy or Timeless — Which Is Best to Grow Your Business?

Everyone wants a viral moment, but it's only temporary. Memorable brands harness ephemeral trends to resonate beyond the moment.

Business News

SoftBank CEO Says AI 10x Smarter Than Humans Could Be Here in a Matter of Years

SoftBank CEO Masayoshi Son spoke to shareholders during the company's general meeting on Friday.

News and Trends

Zomato in Talks to Acquire Patym's Vertical Business Worth INR 1,600 Crore

Zomato reports talks to acquire Paytm movies and Paytm insider verticals worth INR 1,600 - 1,750 crore.

Business News

Amazon Is Thinking About Charging Extra for AI Alexa

"Hey Alexa, how much are you going to cost?"