ActionCOACH business coaching launches into 2017
With ActionCOACH business coaching celebrating our 20th anniversary in franchising, now seems like a great time to look at the trends that have emerged in the relatively recent years of franchising as a business model.
Like all successful businesses and business models, franchising has adapted to the shifting needs of both consumers and entrepreneurs alike, making it one of the most successful and prevalent business models today.
#1 Strong franchisor-franchisee support - Did you know that according to the Landham Act, a federal trademark protection act, if franchisors don’t enforce their quality standards, they very well could lose their license?
For example, if a franchised convenience store whose franchise contract specified no drug paraphernalia permitted for sale, the franchisee could lose his ability to franchise with the company should the issue come under investigation, and the franchisor also is at risk for losing the trademark. Therefore, it behooves the franchisor to provide immense support to franchisees…and for franchisees to comply to the letter of the franchise contract.
Naturally, franchisors and franchisees have a reciprocal, symbiotic relationship.
By supporting franchisees, the franchisor gives more guidance that will lead to the franchisee’s business success. And why should the franchisor care about the success of the franchisee? After all, he’s already collected his franchise fee. Why not turn him loose? Well, the reason is obvious: With very few exceptions, a franchisor-franchisee partnership is an ongoing relationship, where one’s success (or failure) directly relates to the other.
In most cases a franchise will collect a percentage of franchisees’ earnings, or perhaps a flat fee, regardless of the income generated by the franchisee. It only makes sense, then, for franchisors to give as much assistance as they can in providing network opportunities, additional training, and counseling regarding challenges that inevitably arise with clients.
ActionCOACH business coaching, named No. 1 business firm by Entrepreneur magazine, has the support factor down pat. With over 1,000 individual franchise units in 64 countries, the coaches (franchisees) constantly name the support group available to them anytime day or night when they have questions or run into road blocks.
In fact, more senior coaches with greater networks are, in fact, required, to do a certain amount of pro bono coaches who are newer to the franchise. One coach, Karrie Kauffman, had her own practice for years before joining the ActionCOACH franchise. However, when I asked her why she joined, her response was immediate: “The network!” It’s no wonder, then, that ActionCOACH business coaching has been named in the Franchise Business Review’s Franchisees’ Satisfaction Awards year after year.
