The Franchise Mega-Brand Model of Success (Mega=Great)
The Model of Success diagram illustrates the building blocks for growing a successful franchise Mega-Brand.
The strength of a pyramid is no stronger than its base. In this case franchisee profitability is the foundation upon which all aspects of the franchise model rely. If there are no franchisee profits the base erodes and crumbles causing the entire franchise system to collapse.
A strong Model of Success will couple franchisee profitability with an equally strong franchisor and team, building upon that foundation with layers of successful elements such as:
- Positive franchisee relations
- An ecosystem that promotes, develops, and shares system best practices
- A “good is never good enough” approach to training and support
- On-going development of programs to grow the system revenues
- Setting Key Performance Indicators, monitoring them system-wide as pro-active support and growth tools
- Growing the system methodically with the best franchisees possible
As the strength of the system builds towards the top of the Model of Success, it continuously cascades tools, resources, programs, and efficiencies back to the base, creating additional franchisee profitability and refueling the entire model.
Using the Model of Success example above, create one for your brand’s strategic plan with initiatives, programs, and goals based upon the Ten Rules and tools contained in Five Pennies.This will bring alignment and focus to everyone on your team. Your team will understand your brand’s strategic vision and the roadmap to getting there.
The 25 Core Areas of a Successful Franchise Brand
Franchise Mega-Brands are successful because they create a continuous process of measurement and improvement in all areas of their systems. However, before you can begin to improve anything – you need to establish a baseline measurement of your system today. The list below is to help you determine a master benchmark for improvement through understanding the 25 core areas of your franchise brand.
If your system is brand new, some of these core areas may not be applicable to you yet. But let me assure you, they will impact you at some point in your brands lifecycle, so start working on, and understanding them now. For larger mature systems, you may have other specific areas that are not included in this list, but are easy enough to add.
- Franchisee Unit Profitability
- Franchisee Unit Operations
- Franchisee Relations
- Franchisee Validation
- Franchisee Engagement
- Franchisee Support
- System Best Practices
- Operations Manuals
- Franchisee Training
- Supply Chain/Purchasing
- System Compliance
- System Quality Assurance
- Brand Management KPI’s
- Brand Management Information Systems
- Franchisee Local Marketing
- Franchise System Branding
- Franchise System Marketing
- Current Franchisee Profile
- New Franchisee Recruiting
- New Franchisee Marketing
- Franchisee Financing
- System Partnerships
- Partners in Growth Programs
- HQ Staff Franchise Education
- Corporate Resources
Give me a shout for a free consultation on how I can assist you in completing a deep analysis of your brand using my 25 core areas brand audit.