Operational Excellence: The Driver of Sustainable Franchise Growth
Learn how to be excellent at the IFA’s Operations Seminar
When I heard about the IFA’s Operations Seminar coming up this fall in Tampa, I was thrilled to see so many topics on the agenda that we help clients deal with every day. Franchise Business Review loves recognizing the franchise brands that are excelling in franchise satisfaction with our awards, but what’s even more satisfying is helping our clients solve their operational challenges and continuously improve. That’s what really drives growth.
We see so many brands that grow quickly but don’t have the operations support in place to sustain it. Even among the best brands, training and support is always one of the lowest scoring areas of our survey when it comes to franchisee satisfaction. Yet, the whole idea of the franchise model is that franchisees get the support they need to be successful business owners without having to go it alone.
Here are some interesting stats:
Brands ranking in the top quartile in franchisee satisfaction drastically outperform brands in the bottom quartile, achieving:
- 10 times better unit growth
- 40% higher royalties
- 54% lower turnover
- 2 times higher franchisee income
Fortunately, this new educational opportunity from the IFA will bring together leadership from some of the top ranking brands in franchisee satisfaction to share techniques and insight on how to achieve these kinds of numbers and grow your brand strategically by developing supportive relationships with franchisees built on mutual trust.
We know from working with Wild Birds Unlimited (an FBR Hall of Fame winner and Best-in-Category brand) for over 10 years that they’ve nailed it when it comes to training and support. Their team will be leading a session exploring the steps to build trust, methodologies for training staff, and the importance of ongoing measurement and recalibration of that trust over time.
And part of the key here is time. One of the hottest topics on FBR’s Performance Series earlier this year was the franchisee lifecycle. There’s been much written about it, but keeping franchisees satisfied during those lifecycle dips continues to be a challenge for many franchisors. Of particular interest in our discussion on the franchisee lifecycle was the idea that to date there has been a lack of education and training for franchisors on how identify and provide the support franchisees are looking for during the middle and end stages of the lifecycle – including an exit plan.
The Operations Seminar will address the challenges of the lifecycle with a session focused specifically on providing effective training in a manner that will resonate with your specific franchisee, and meet their needs relative to where they are.
IFA’s Operations Seminar is focused on the part of franchise success that is often overlooked: operational excellence for sustained growth. You can’t have a successful franchise without sound operations and training programs, or expect to achieve long term growth. Don’t miss out on discussion about culture, franchisee life cycle, unit level economics KPIs and more!