5 Ways To Ensure Franchisee Success in 2019

5 Ways To Ensure Franchisee Success in 2019

I agree.  Success is in the eye of the beholder.  If you agree, please answer the following question: What is needed for you to achieve the success you want in 2019?

This is the reality:  If you do not define this soon, you will most assuredly wind up running your franchise the exact same way you did last year.  Same frustrations, same people, same problems and another year has gone by.

Even if you were satisfied with your income in 2018 there are improvements that can be made which lead directly to a greater sense of personal and professional satisfaction.

How do I know?  I practiced what I preach as a 15 year franchisee and was both highly satisfied and highly rewarded.  This short list will get you headed in a less stressful, more in control and more highly compensated direction for 2019.  If one or more on this list does not appeal to you this year, skip it and move on to those you can use.

1. List 5-6 key prospects, existing clients or community organizations you want to develop in 2019 and establish communication with them in January. Make a direct commitment to meet, provide information and engage at a future time in order to further assess their needs and your opportunities.

2. Decide:

  • How much money you want to make in 2019.
  • How much additional revenue you need to generate in order to generate in order to earn that amount.
  • Develop two metrics (numbers) to help you monitor and control your progress and expenses in the coming year.

3. Review your existing client list and figure out who your “Sweet Spot Client” is. (This is not your favorite client, but the one that adds the most value to your business.) Then, create a profile for your “Sweet Spot Client” and start to strategically focus your resources on getting more.  Share your profile with your team.

4. Make a commitment to “Go Big” with Strategic Leadership in 2019.  What specifically are you going to do to show your employees and your clients that you are serious about your business and their continued loyalty? Layout your time frame and share it with your team and clients, as appropriate.

5. Take stock of your Competitive Advantage in your local market.  Is it enough to sustain and grow your business to meet your profit goal in 2019? Now is the time to figure out how to strengthen your business.   Find out what your customers value about your business and what they don’t. (If you are not sure what they value, ask them! No shame).  Are you taking advantage of all franchise programs?  Inquire if you aren’t sure.

Cheers to your success in 2019!

Based on Adventures In Franchise Ownership – the 4 Pillars to Strengthen, Protect, and Grow Your Business, by Christy Wilson Delk.

Found online or at your local bookstore.