The Importance of Business Culture When You Own a Franchise
Behind every successful business is a creator, or in the case of this article, a franchisor that poured over the details and intricacies of his/her product or service and polished it to perfection. The efforts of the franchisor have culminated in a winning business and they are interested in selling it to other like-minded individuals who also have the drive to make that product into something successful. Many times the product or service generate a lot of buzz and grows exponentially with franchise opportunities spread far and wide.
When the market becomes saturated, the question then becomes:
How do I differentiate myself from all of the identical franchises springing up all around me?
The answer lies within the business culture of your franchise. Culture in business refers to the company’ score philosophy and how you use it to achieve success through customer service, attention to detail and the general attitude shared by each individual in your employ.
Business culture is important because it creates a foundation upon which each new building block in your franchise is built. At the heart of your culture is the set of values by which you live. Establishing these values is important because they are the guidelines that you look to when you or any of your employees make a business related decision. They are also important because they remove a great deal of ambiguity from the decision making process. Employees who can review their fundamental values before addressing a customer service or vendor-related issue can confidently represent your franchise as they work to resolve the problem in the same manner that you would. The result of this interaction is usually a positive for the customer, employee and you as the franchisee. This kind of solid decision making and clear procedural instruction will endear your employees to you and your franchise, and will prompt others to get on board because they see the business culture at work.
Potential new franchisees will closely examine your business culture when considering a move to invest in the business. They may come for a visit to your storefront or premises to examine the daily operations and see how others are absorbing your culture from the top level of the business on down the chain.
By creating a positive business culture at your own franchise, it will also help the franchisor to attract new franchisees – just as a negative culture will make them think twice about signing a contract. And by adding more franchisees into the system, the company’s value increases thereby increasing the value of your individual business.
Overall the business culture of your franchise should not change much as the years go by. Some of the policies may be updated as technology makes communication with management and employees more accessible. However, at the heart of the franchise, your customers should expect to receive consistent and reliable support at each level of management and by maintaining your philosophies and “practicing what you preach.” In turn, your employees and customers will more than likely reward you with a business that grows and remains profitable for years to come.
About FranNet Canada
FranNet is a 27-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/
