YOUR GUIDE TO ACHIEVING SUSTAINABLE GROWTH: How to learn the franchising formula..

Author:Sherwood, Craig
 
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In any business, success is the result of a formula comprised of many different elements. In the formula for successful franchise development, operational standards are perhaps the most crucial elements a franchisor must bring to the table. Without effective operational guidelines to offer your network, you can say goodbye to successful development and sustainable growth.

After nearly 40 years in franchising, the Gold's Gym brand has seen firsthand how operations and development have a cause-and-effect relationship. We've also discovered that because operational standards set the tone for a brand's success, they must be proven and flexible to accommodate evolving global markets and franchisees. In other words, maintaining operational excellence across your network requires ongoing analysis and adjustment.

Throughout the ongoing analysis of your franchise brand's operations, be sure to keep the following three considerations at the forefront of your efforts:

1 Select the right franchisees to align with your operational standards

The key operational success metric to growth is ensuring you select the right franchise partner at the beginning. I'm sure you're now thinking, "If I had a dollar for every time I was told to be selective in who I award franchise agreements to...," but this truly is the cornerstone of franchise success. It is especially important to consider in terms of operations. Finding a partner that is eager to follow your brand standards and sees the value in doing so will put the franchisor on the right path to growth. Of course, since your operations are likely to evolve as the industry around you does, you must anticipate the impact any operational changes will have on your network.

Gold's Gym has heavily invested in brand innovations in recent years, capitalizing on the latest fitness trends to maintain our industry leader status. Because these innovations directly impact our franchisees, we have simultaneously invested time and resources into aligning our operational adjustments in a way that is mutually beneficial for both the franchisor and franchisee, providing opportunities for growth and continued success across the board.

2 Have a learning system in place

When new operational standards are put in place, both rookie and veteran franchisees will experience a learning curve as they adjust to the changes. The franchisor should provide as many resources as possible to aid in the learning process, keeping in mind that...

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