You Keep Your Franchisees Because You Are The Market Leader. You Are, Aren’t You?

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Does your franchise, your business, your company, own the hearts and minds of your franchisees and customers?

Differentiation earns hearts, minds, money

If not, you haven’t done your job.

If not, you haven’t differentiated your business. That means you’re not capturing and keeping franchisees and customers.

It also means you’re under-performing financially.

Fear is the wrong approach now

Oddly enough, one Dallas-based franchisor, realizing it was under-performing financially, recently tried to “own” the hearts and minds of its franchisees by instilling fear! The franchisor hired an auditor to investigate franchisee payment practices.

“You have been warned,” the franchisor wrote to its franchisees in a blog. (I’m not making this up!). The auditor was told to find the franchisees who had not paid fees due to the franchisor.

I guess that’s one way to capture and keep franchisees, though we’ll see how it works out for this crippled franchisor.

Secret to franchisee motivation

Franchisees, by their nature, are willing to give their hearts and minds to a franchisor, providing the franchisor is deserving. At their core, franchisees seek something more than profits. They must be profitable to remain satisfied long-term, though it’s often surprising that they’re willing to earn less as a franchisee than they could as an employee — and there’s the secret to their motivation.

At their core, franchisees want leadership

Franchisees want to own it. But they don’t just want to own it — they want to be part of a winning, market-leading, superior, enviable tribe of franchisees.

They want their network, their company, their franchise, to be the market leader in their industry.