FRANCHISE - A PARTNERSHIP - YOU BET

Guest post by: Keith King
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FRANCHISING - ARE YOU READY TO GROW - ELEMENT 2 - By Keith King

Many Franchisors and Franchisees forget that Franchising is a "PARTNERSHIP" between the Franchisor and the Franchisee. Financial rewards can only be achieved and be substantial if the Franchisor and Franchisee work together as a team and share in a common set of goals.

A prominent Canadian Franchise Lawyer calls franchising "THE DREAM MACHINE". He says franchising is "THE QUINESSENTIAL ENTREPRENEURIAL ACTIVITY". Franchisors dream of taking their idea and seeing it grow into an international organization, while Franchisees dream of running their own business and achieving financial independence.

The "DREAM" starts to break down if both parties do not hold up their end of the bargin. If not corrected, the Partnerhsip will break down. In most cases, there is a lack of communication. A lot of Franchisees will not speak their mind for fear of repercussions from the Franchisor.In some situations, the Franchisor does not know how their Franchisees really feel about the relationship.

There is a simple solution to this problem. I ,as a third party,have conducted many "FOCUS GROUPS" with Franchisees. In every case, this form of communication has opened up the lines of communication and with a good action plan, the "Partnership" has been stronger that ever.

Do not let this "Partnership" break down as it will effect the most important part of your business - THE CUSTOMER, who will control the ultimate scorecard of your companies success.

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FRANCHISING - ARE YOU READY TO GROW - ELEMENT 2 - By Keith King

About the Author: Keith King

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Keith is the founder of Franchise Focus Canada. He has had experience both as a franchisee and consulting for franchisors. As his initial exposure to franchising, he owned eleven McDonalds restaurants in Canada. Since leaving Mcdonalds, he has done consulting in the franchise industry. His expertise has been in Turnarounds, Franchise Marketing and Turning Operating Companies into Franchising Companies. He also has had extensive experience in conducting Franchisee Focus Groups. Prior to becoming a franchisee, he was with IBM in Canada and Internationally. While there, he was responsible for conducting Strategic Marketing Planning Sessions Internationally. Contact: keith@franchisefocuscanada.com or 1-416-568-9700
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FRANCHISE A PARTNERSHIP YOU BET

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