Thursday, September 25, 2014

Talks about Peer Support is the Key to Franchising Success

Before I start my discussion with you all let me introduce with a peer support oriented question and answer website.

A franchisee's peer network is simply the sum total of all the other franchisees operating under the same franchising organization. They are the individual businesses from which the franchisor collects data to modify policy and guidelines. More importantly, this network is made up of individuals who understand the intricacies of running a franchise from practical, first-hand experience.

When an investor first starts a new franchise they have a unique opportunity that is not as readily available to the independent business owner. If the franchising organization has been around for any length of time at all, then there are people who have already been running franchises and have already dealt with most of the issues that the new owner will soon be facing. These experienced professionals are a new owner's peer network. It is the wise investor who takes the time to make connections within the franchise's community and utilizes the wealth of knowledge held by his or her more experienced peers.

No matter whether the franchisor makes it easier or not, or to what degree it does so, ultimately it is the responsibility of the franchisee to make use of the peer network available to him or her. Even if the franchisor doesn't assist in this, a smart owner will take the time to meet other franchisee in the area and get on a first name basis with them. In a pinch, having someone who is knowledgeable and competent to turn to can save a lot of headache and potential error.

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