Hajra Naz
You make the decisions and you set the objectives. The enticing part of being self-employed is that you are free to pursue work that interests you. Even better is that you are in control of the income you wish to earn. While working for someone puts a cap on how much you can earn, you as a self-employer have no restrictions.
However, responsibility comes with freedom. There are numerous choices that an entrepreneur may consider, including family businesses, sole proprietorships, and franchises. Self-employment lacks structure, but the best of both is provided through franchising which allows flexible operations within a developed systematic framework.
Businesses today still franchise because it provides a practical way for them to expand a brand and simultaneously preserve its quality and consistency. But even non-franchises can benefit from their principles. Startups, small and big businesses, or corporate firms can apply a franchise-style system for their brand and its operations for better scalability. Three principles derived from franchises will be discussed next.
1. Attract and Retain Customers with a Three-Step Approach
No business can withstand the test of time without a readily available customer base. Regardless of how best your ideas and innovations are, without proper customer attraction and retention, a business would perish. It is easy for anyone to assume that customer retention and acquisition is an aspect of marketing and sales, however, that is false, it is a company-wide affair that must be integrated into your business strategy from the start.
Brian Cook, the Get in Shape for Women franchisor, asserts that well-performing franchises employ an integrated three-stage model for customer acquisition and retention:
- Provide a free first session or trial – Letting potential customers try out your service without paying allows them to not stress over anything. This can be in the form of a free consultation, product samples or trial offers. The aim of any business during the early stages is to remove barriers.
- Do not hide pricing – Destroying trust is easy if pricing policies are unclear. Customers should always know what they are paying for to further avoid aggravation.
- Deliver exceptional customer experience – For customers, ensuring that a positive experience is enforced helps in driving repeat business and spreading the word. Employees need to be encouraged to focus on genuinely trying to help the customers instead of pushing for sales.
Franchises excel at implementing these steps consistently across all locations. The takeaway?
- Prioritize transparency
- Customer satisfaction
- Low-risk onboarding strategies to create long-term success.
Read More: How Startups Can Improve User Retention with These 5 Simple Steps
2. Develop a Scalable System for Consistency
Growth is an indicator of success, but scaling without a structured system can lead to inconsistency and brand dilution. If your business expands without standardized operations, you risk losing the quality that made you successful in the first place.
Think of global brands like McDonald’s or Firestone Auto Care. Customers visiting any branch expect to receive the same experience regardless of whether the store is operated by a franchisee or a corporate manager. Consistency of this magnitude is not a coincidence; it arises from well-documented systems training and operating manuals.
Here are some franchise-style tips to maintain the same level of consistency as your business scales:
- Have an elaborate operations manual – This must address all parts of the business, from customer-facing processes to back-office functions, in a manner that allows anyone to jump in a execute it flawlessly.
- Ensure product and service delivery consistency – Customers interacting with your business should experience the same minimum standard regardless of the point of contact.
- Have a proper robust training policy – Employees and associates should not just know the basics, they should know the gaps in the bigger picture and where their contribution is needed. Training should allow builds and improvements over time.
If your business is growing, ensure that the experience customers receive remains consistent at every touchpoint. Developing clear, repeatable systems will allow you to scale while maintaining excellence.
3. Don’t Wait Until It’s Time to Leave to Plan Your Exit
Most business owners focus on jumpstarting and expanding their business, but there comes a time when it is important to think about moving on. Regardless of whether you want to sell the business, pass it down to family, or switch the management completely; there is always an exit strategy that needs to be worked on beforehand.
A franchise is constructed based on a predetermined exit plan. Besides daily operational expenses, a franchisee pours money into the business for future sales. A brand, a loyal clientele, and a well-organized business system are the most comforting features of a franchise.
Key considerations for an exit strategy include:
- Defining your long-term vision – Whether you want to sell, franchise, or merge with another company, having a clear goal allows you to structure operations accordingly.
- Building a brand that operates without you – A business should not be dependent on a single individual. Developing strong leadership, documented processes, and a recognizable brand ensures continuity.
- Understanding your business’s value – Just as a franchise location retains value through its systems and customer relationships, any business should build assets that make it appealing to future investors or buyers.
By planning for your exit early, you create a more sustainable and transferable business that can thrive even when leadership changes.
Read More: 3 Must-Know Tips for Creating a Business That Lasts 100 Years
Plan Your Franchise’s Success To Achieve It
With independence and a proven framework, franchising blends the best of both worlds and lowers some of the risks of entrepreneurship. While some businesses may not require franchising, they can still achieve flexible growth and stability with franchise-based strategies.
What’s the primary lesson?
Customer acquisition and retention can be approached in a manner that increases long-term success for the business. Consistent quality as well as scalable systems ensures that businesses maintain a good reputation for expansion.
The earlier a business draws up an exit strategy, the more value increases.
When implemented, these principles lay the groundwork for a self-sustaining business that adapts and succeeds over the years.
