In order to run a successful and profitable franchise business, it is important to make sure the franchise you are researching is reputable and is also the right fit for you. As a potential franchisee, you should feel comfortable with both the business model and the overall culture of the franchise you are joining.
With that said, aligning yourself with a credible franchise that has a solid system in place and is supportive of your efforts is only part of the entrepreneurial equation. After all, as the entrepreneur, it is up to you to run your franchise business the right way.
Here are three tips for running a successful and profitable franchise business:
1. Hire and retain the right employees… Don’t let the wrong employees linger! As a small business owner, one of the most vital keys to running a successful and profitable franchise is making sure you hire and retain quality employees. Before entering into your franchise agreement, you should ask the franchisor if they offer training and ongoing support to you as the franchisee and also see if they provide employee guidance and hiring assistance.
For example, as the world’s largest and #1 rated marketing and printing franchise, Minuteman Press International has over 40 years of experience putting people into business. The best part is that as a Minuteman Press franchise owner, you have a local field support team that will continue your training onsite and assist you in the hiring and training of your employees as well. By getting the right staff in place and retaining your employees, you will be able to focus on your primary role as the franchisee, which is successfully building and growing your business out in the community.
2. Advertise and market your business… Track results and follow up with prospects! For many business owners, one of the biggest pitfalls they fall into is not promoting their business nearly enough. In addition, some entrepreneurs who do market their business may also fall into the traps of not tracking results and/or failing to properly follow up with leads and prospects.
The good news is that franchising with companies like Minuteman Press International can help business owners avoid these pitfalls. Minuteman Press franchise owners are provided with full training and ongoing local support, and this includes assistance with marketing and Internet marketing programs. Minuteman Press also offers its franchisees access to FLEX, their proprietary business management software that makes managing a Minuteman Press franchise easier and more efficient. With the availability of Minuteman Press marketing programs and FLEX software, franchisees are provided with crucial help in marketing their business, tracking results, and following up with prospects.
3. Make sure you stay on top of new industry trends and technologies… Expand your capabilities in ways that benefit your customers and your business! The last thing you want to do as a business owner is fall behind on the times and lose your competitive edge. As new technologies and trends emerge in your industry, you want to make sure that you take advantage and expand your capabilities where it makes the most sense for you and your customers. Therefore, if you are researching franchise opportunities, you should do your due diligence and ask if your potential franchisor is a leader in their industry. Do they offer you the ability to expand your product and service capabilities? At Minuteman Press International, the answer is yes.
One of the biggest benefits of franchising with Minuteman Press is that you are joining a tried and proven franchise system that is the definition of the modern printing industry. Each Minuteman Press franchise can meet the growing needs of today’s business professionals, from printing essentials and promotional products to full marketing and direct mail programs including professional graphic design services. Ultimately, Minuteman Press has experienced corporate executives and regional field support teams that all work together to make sure their franchise owners are up to date on the latest products and services available to them.