Why franchises are misguided?

ByFranchise Discovery

Franchises are often misguided when the franchisor do not evaluate and understand its roles and responsibilities. Here we will go through a glimpse of the roles of franchisor which needs to be followed so that there are minimal chances of franchises getting misguided. If the franchisor guides well with the operations, it will be much easy for the franchise to grow and yield profits.

 

The roles of the franchisor are as-

 

  1. Guide the franchisor with the strategies that worked well and also explain them about things that did not work well for the business growth.

  2. Well implementation and execution process.

  3. Policies will be documented with the help of a legal expert in FDD (Franchise disclosure document) and Franchise agreement.

  4. Vital responsibility to be a solid support system to the franchise.

  5. Monitor the business, process, products/services that have made the brand successful.

  6. Assist with financial planning, marketing strategies, advertisements, brand promotions.

  7. Help managing the territory and market area.

  8. Partnering with vendors/suppliers.

  9. Employee training.

 

This guidance helps the franchise to grow, without which franchises gets misguided and have to finally shut their business within three years.