How to run a successful franchise | Bedshed

How to run a successful franchise.

How to run a successful franchise.

So, you’ve decided to change your life and own a franchised store. You’ve done your homework, determined the franchise you want to be a part of, and your doors are officially open for business. What’s next?

It may come as no surprise that starting your franchise can be hard work, but with the right tools, support, good planning, and a solid network, you can position your franchise for long-term growth and success.

Below are our top four tips to help you and your franchise flourish.

Have a plan.

Developing a plan is one of the best ways to ensure your success. The plan's primary purpose is to define your objectives so you can determine the best way to achieve them. Your franchisor can be a great support in drawing this up with you, and then it’s important to keep it in mind to make sure you’re doing all you can to reach your goals. 

Remember, your business should always be evolving to meet the needs of customers and the marketplace, and likewise, the business plan should be a working document that continually evolves.

Lean on your franchisor.

Your franchisor should be your best friend, especially in the first few years. They’ll be able to support you by helping get all the initial processes in place, but the contact shouldn’t stop there. It’s important you keep talking to your franchisor and share your finances regularly, so they can help you with any potential problems before they arise. Cash flow is a really important part of any new business and working in partnership with your franchisor to ensure that this remains healthy.

At Bedshed, once you pass our 7-step recruitment process, you'll attend a week-long training course in Western Australia. There, you'll learn the structure of our business and our product range offering and have the opportunity to meet existing franchisees and learn from them as well as ask any questions.

Build relationships with other franchisees.

Get involved in the franchise network from the start; it’s amazing what you can learn and pick up from other franchisees. A good franchise should always provide a sense of community. 

We pride ourselves on our ability to connect franchisees. With over 40 stores throughout the country, most of our franchisees are in regular contact with one another; they even share stock. 

At Bedshed, we want nothing more than our franchisees to succeed, and one of the ways they’re able to do this is by building relationships with other franchisees.   

Focus on quality customer service.

Finally, this may come as no surprise, but you should never underestimate the importance of quality customer service. Remember that a little bit of bedside manner goes a long way (see what we did there?). 

Make sure your employees are well trained to provide superior customer service, placing them in the seat of being a bedroom expert full of key knowledge and advice for customers. After all, your customers are at the core of your business and repeat customers and referrals are extremely important, especially in the early stages. Word-of-mouth is proven to be one of the most effective ways of generating new business.

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