What attracts most potential Franchise Owners to Primrose also attracted me to the company when I joined several years ago: we all share a passion for early education, an entrepreneurial drive and common values. In other words, we all got into this business for the same reason. This shared passion and purpose naturally sets the foundation for a trusting relationship, but there’s a lot more you can do to maximize this new relationship you’re establishing.
Earlier this year, I was thrilled to share a few insights related to relationship building in Boston while attending the Franchise & Business Opportunities Show, the largest business ownership event in the region. It was an environment filled with energy and great people – perfect for discussing the importance of relationships. I enjoyed sharing best practices I’ve learned throughout my career and am next headed to Chicago, to speak at another Franchise & Business Opportunities Show on Oct. 10.
As discussed in this session, first impressions matter in any relationship. Your relationship with your franchisor starts during the Discovery Phase, long before anyone signs the dotted line. This is when you first inquire about the franchise opportunity. If all goes well, you move on to the Commitment Phase, where you take your relationship a step further by signing your franchise agreement. Then, you enter the Pre-Opening Phase, which encompasses everything from after you sign your agreement to when you open your doors. At Primrose, this includes training, location selection, marketing support and more.
Across all of these phases, there is immense opportunity to build a great relationship with your franchisor by focusing on the following:
Implement best practices for relationship building. For example, one best practice is keeping an open line of honest communication and aligning your goals and vision early on. We encourage this at Primrose in many ways, including holding a Prospect Presentation Day for potential Franchise Owners to get to know our brand and our vision directly from our core team.
Know the timeline for crucial communication. Establishing an effective two-way communication process with your franchisor up front is vital to building a strong relationship and ensuring success for your business. Primrose uses an intranet, e-newsletters, blogs, surveys and other tools to make sure our Franchise Owners are informed and involved in our business decisions.
Ask key questions. As you enter each of the phases listed above, continue to think about what questions you need to ask yourself and your franchisor in order to feel confident and excited about your business. These questions should be more values-based to make sure you will feel happy and fulfilled with your business. Examples include “Do you share my values and goals?”; “When it comes to the company, what makes you most proud?” and “How will we define and declare success together?”
Primrose Schools is experiencing rapid growth and now has 307 schools across 25 states coast to coast. As we continue to expand, our relationship-based approach to franchising combined with our shared passion for nurturing the next generation enables us to remain a cohesive system, working together to create a brighter future for children through high-quality early education.
For more information about what Primrose looks for in a Franchise Owner candidate, I encourage you to explore our website and select “Request Information” for more details.