4 Helpful Tips for Emerging Franchise Brands

Here's some advice for franchisors who are just getting started.

learn more about Jeff Cheatham

By Jeff Cheatham

Opinions expressed by Entrepreneur contributors are their own.

Each year, it's estimated that an average of 300 new brands begin franchising their concepts in the marketplace. The competition among emerging brands is robust, which is why it's advisable to learn from franchise experts who've turned emerging concepts into successful brands. To provide you with some guidance to get a leg up on the competition, here are four helpful tips for emerging franchise brands:

1. Hire the best people

Never underestimate the consolidated brand power you can bring simply by surrounding yourself with the right people. There will be nothing more important from the outset than building and maintaining an environment of collaboration and cooperation. But look for individuals who want to be invested in the success of the organization — those who can foster and nurture, strong relationships built upon a foundation of respect, understanding, compassion and an unwavering commitment to reach the brand's stated goals for growth and prosperity.

There's a reason this tip was placed at the top. Hire only the best people, then allow them to do what they do best. "Personal goals drive business goals. And leadership is an influence, not a title," states Josh Wall, chief growth officer of Unleashed Brands, parent company of the Urban Air Adventure Park, The Little Gym, Snapology and Premier Martial Arts franchises. Wall was previously instrumental in helping the Christian Brothers Automotive franchise reach 250 locations in 29 different states.

Related: Use Aristotle's Advice to Hire Employees for Your Franchise

2. Plan hard. Then course-correct

Franchisees who wish to become owners of your concept will have to jump through plenty of hoops to demonstrate their creditworthiness. Before they can access capital, they'll need to prove they have a business plan in place convincing enough to secure the necessary funding. Should emerging brands be any different?

Adopt a similar stance and make sure your organization has a clear understanding of how your brand will achieve steady and scalable growth. Even then, you'll need to course-correct, so plan for these occasions accordingly. Your business model has a roadmap for success for franchisees. But there should also be a highly detailed corporate version — your own roadmap for success.

Related: 4 Ways to Attract Sophisticated Franchisees to Grow Your Business

3. Exercise patience and discipline

It's only natural that an emerging franchisor would want to sell franchises as fast as possible, especially if your brand is experiencing a breakthrough with brokers, consultants, investors, stakeholders and other referrals. But this is where discipline comes into the picture. Sustained, long-term growth is only possible when brands ensure that they have the right fit for their franchisees.

Once the agreements are signed, these owners are your partners. And you want to be 100% sure you've both made the right decision. Wall has this to say about aligning your interests: "If it's not the right culture fit, there could be long-term issues that slow down the potential growth of the company. When two parties in the same house have different visions, then you have division. It's imperative that we have the same vision for the long-term growth of the brand when going into an operating partnership."

4. Define yourself properly

Everyone talks about the 30-second elevator pitch, but how many brands can effectively communicate their value proposition when they're put on the spot? Make sure you define your emerging brand attributes in a way that anyone can understand.

Concentrate on your brand messaging and strategy. Who are you? What problem do you solve for your clients? How are you different from the competition? What makes your brand an attractive investment for franchise ownership? You'd probably be surprised at the number of franchisors who could use a helping hand to answer the aforementioned questions. Remember this: If you can't effectively describe your value proposition, how would you expect others to understand it?

A final note from Wall concerns the value of relationships in the franchising industry. Here's how he feels about their importance: "Good relationships are essential for several reasons — they create space for open communication between the franchisor and franchisee, build trust and encourage collaboration, all of which lead to the ultimate goal of franchise growth. A good relationship is what leads franchisees to trust a vision that's bigger than themselves."

Related: 5 Things to Do Before You Franchise Your Business

Jeff Cheatham

Founder and CEO of Creative Content

Jeff Cheatham is the founder and CEO of Creative Content, a full-service copywriting and public relations firm. He's based in Dallas and works with multiple B2B clients and over a dozen franchise brands to develop proprietary content campaigns for lead generation and sales development programs.


https://creativecontent-llc.com/

 

Related Topics

Editor's Pick

Have More Responsibilities at Work, But No Pay Bump? Use This Script to Get the Raise You Deserve.
Black and Asian Founders Face Opposition at All Levels — Here's Why That Has to Change
Business News

'This Made Me Physically Recoil From My Phone': Lingerie Brand Apologizes For 'Creepy' Ad Referencing Ryan Reynolds and Bras

Online lingerie retailer Harper Wilde is under fire for a bizarre sponsored post it has since pulled from Instagram.

Business News

Viral Sensation 'Popcorn Guy' Has Earned a Gig at the 2023 Oscars

Jason Grosboll first went viral on TikTok for his theatrical method of buttering popcorn in a Texas movie theater.

Thought Leaders

5 Small Daily Habits Self-Made Millionaires Use to Grow Their Wealth

We've all seen what self-made millionaires look like on TV, but it's a lot more subtle than that. Brian Tracy researched what small daily habits these successful entrepreneurs adopted on their journey from rags to riches.