The single most important factor in the long term success of the best franchise systems is effective leadership. When you look at the cause of every significant achievement or problem there is always one driving force; effective leadership or lack thereof. Â
Leaders have always faced the job of inspiring others while making important decisions with incomplete information. Franchise executives face even more significant and unique challenges. They must first and foremost fulfill the traditional corporate leadership role, ensuring their organization deliver on its promise to its customers, behave in a responsible manner and earn profits. Â
But they must also play another role that is far less defined in its responsibilities, the franchisor role. This requires them to coordinate the ambitions of their franchisees — people who are franchise leaders in their own right. Â
The best franchise executives all exhibit similar key elements to good franchise leadership. They all have a clear vision: This is not just a one sentence mission statement about being the best franchise. It requires a precise mental picture of how the leader wants all aspects of the franchise system to evolve. Â
It’s important for effective franchise executives to maintain believability and integrity: sustained success is only possible if the people, especially franchisees, feel they can trust and respect you. The best franchise systems have an intelligent strategy: it’s important to ensure that the franchise organization goals fit with the needs of its customers, franchisees and the market in which it operates. Â
Effective franchise leaders build commitment to change: social and economic changes mean that the best franchise systems must be adaptable in the way they do business. Also as a franchise system grows and develops, changes will be needed to maintain adequate levels of support to its franchisees. Â
The most effective franchise executives are adept at managing conflict: while people have a natural inclination to cooperate and help each other, they also have their own individual needs, expectations and approaches. This is particularly so in a franchise network where there can be several agendas operating at once. Â
The long term success of the best franchise systems depends on effective leadership.
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With over 25 years of franchise, marketing, and entrepreneurial experience, and the owner of Franchise Perfection, Jim Coen, brings key skills to franchise consulting for those interested in buying a franchise business opportunity.
Jim has been a franchisee, worked for franchisors, ran a multi unit operation for a franchisee, and served as a franchise consultant matching candidates with the right franchise.
At Franchise Perfection there is no perfect franchise, but there is always a perfect match.
For over 20 years Jim worked with Super Coups. Super Coups is a MA based direct mail franchise business to business opportunity.
Prior to Super Coups Jim successfully marketed franchises in the New England area for Uniglobe Travel Northeast a travel franchise, Merry Maids a maid cleaning franchise, & Emack & Bolio an Ice Cream franchise.
Jim was the host of a popular radio show in the Boston Area called "Let's Talk Franchising" that was broadcast on AM 1060 WBIX The Boston Business Station.
Jim currently serves on the Board of Directors of the New England Franchise Association (NEFA) www.nefranchise.org
Jim is exactly right. I have worked with dozens of successful franchisor and even more that weren’t exactly failures but they stagnated at some point in their development. The biggest differentation is leadership. Those with great leadership have a much higher chance of success. My blog is entitled Franchise Leadership for that reason.