Not every new or potential franchise owner has a management background. Maybe you’ve never managed a group of employees before. Even if you have a history of management, franchise ownership is an entirely new ball game. So, what franchise management topics should you explore?
To really prepare yourself for franchise ownership and management, you need to dive into training and support that sets you and your employees up for success. You’ll want to make sure you have the following areas of franchise management training covered.
How To Manage Your Time
When you invest in a franchise, expect your time management skills to be put to the test. As a franchise owner, you’re required to fill a lot of roles that a traditional manager wouldn’t normally take on. You’re both manager and salesperson. You’re accountant and owner. You’re taking on a lot of logistical time constraints, and without proper franchise training in time management, you may lose valuable productivity.
When an employee asks for time off, for example, there’s not always an entire team of employees to take on their responsibilities for a day or a week. You may have to fill their role while they’re gone. In this scenario, how do you manage your own tasks and cover for the vacationing employee? With a focus on priorities and unwavering organizational skills, you’re able to keep your business running smoothly.
Time management as a franchise owner is about being proactive. What are the issues that demand your attention first? You must learn how to make lists to keep track of what needs to be done, and when.
How to Hire The Right People
Many new franchise owners struggle with hiring the right employees to work at their location. It’s not about who seems nice in an interview or who requires the lowest pay. Hiring employees is a strategic decision that often necessitates specific franchise training.
What qualities should your new employees embody? Here are two important ones you should look for in a new hire:
- Dedication. You don’t want to hire an employee that leaves after a month or two. The best employees are the ones you retain for a long time. They develop a familiarity with your business and its operations.
- Versatility. Your employees are probably going to fill a variety of roles around the store. They need to have a positive attitude and be the kind of people who don’t shy away from hard work.
If you find candidates with these important qualities, you’re more apt to build a stable foundation for your franchise location.
How To Delegate Effectively
Another way to make the most of your time as a franchise owner is through strategic delegation. When you first open the doors of your franchise location, you will have to take on a lot of different tasks. But, hiring the right people to whom you can delegate responsibilities makes all the difference.
The foundation for delegation is trust. You have to trust your employees to perform their job responsibilities. Many managers make the mistake of thinking they can “do it better” themselves. But, when you hire the right people and train them to work efficiently, they’re equipped to take a lot off your plate.
You must be able to identify strengths that your employees possess and capitalize on them. If you see that an employee is especially gifted when it comes to selling products to your clients, make them your top salesperson. Maybe another employee is extremely organized and attentive to detail. They could manage your warehouse and monitor when it’s time to restock your merchandise.
All of these delegation examples take responsibilities off your shoulders, giving you more time to focus on other aspects of franchise management.
When you’re managing a franchise, the stakes are high. This might be your entire life savings or a major investment for your family. Being equipped to run your franchise properly should be a top concern. Make sure you get the right franchise training so you’re ready to run a location that’s profitable, efficient and stable.
Interested in finding out more about franchise management and how to get started on your ownership journey?