Decide Your Own Success
Setting measurable goals for your franchise and how to work toward their completion
With anything in life, success is measured against the backdrop of expectation. If one has lofty dreams of grand achievement that are divorced from reality, disappointment is inevitable. However, if you realistically evaluate the different realms in which success can be measured, you will have peace of mind in achieving such goals, or else be able to identify changes that must be made in order to improve. In the Canadian franchising world, it is becomingly increasingly important to measure outcomes in order to determine the performance of a brand and the franchise that it represents. Here are a few practical ways to measure one’s success through goal-oriented action.
Monthly sales goals
By setting realistic and attainable sales goals on a month-to-month basis, you can measure the success of your franchise in a concrete and identifiable way. Evaluate the national average of the business from which your franchise originates, and coordinate your goals according to the preset standard. In this way, it will be clear whether your franchise is attaining its goals, or if there needs to be changes made in order to improve its effectiveness.
Customer loyalty
If one sets out with the goal of gaining customer loyalty, having effective people skills is extraordinarily important. This type of success is easy to work toward on a day to day basis. As each employee of your franchise interacts with each customer, there is an ethos created which will determine the loyalty of your customers in the long term. As Dale Carnegie says in his profoundly influential book,“How to Win Friends and Influence People,”the power of success can lie in the mere social interactions between brand and customer. By showing genuine interest in the well-being of the customer, and forming a human connection through enlivening conversation and the use of a smile, the trust and appreciation of your customer can be achieved. Make it a priority to measure the effectiveness of you and your employees in how you interact with the customer on a daily basis in order to achieve maximum customer loyalty.
Long term goals
By viewing your franchise’s success according to the match between yourself —the franchisee—and the franchisor, one can gauge your individual success in the grand scheme of things. Often, failure in the long term is caused by a disjointedness between franchisee and franchisordue to the inability to follow the provided formula. To set up your franchise for long term success, evaluate what the business expects of you and adhere to the blueprint, adding unique methods of marketing to the formula.
About FranNet Canada
FranNet is a 29-year-old company with roots in the U.S. Its purpose being to nurture every entrepreneur’s dream of business ownership. We actively employ a specific profiling and consultation method. This method is geared to each investor with a specific business model and based on franchise trends typically found in Toronto, Ontario, Vancouver, British Columbia, or Calgary, Alberta. The most lucrative Canadian franchise opportunities are waiting for you. For more details visit - http://frannet.ca/buy-a-franchise/canada-franchise-buying-process/
