What Does It Really Take to Grow a Franchise Organization?
Growing a successful franchise is no easy feat. It requires juggling many moving parts – recruiting the right franchisees, keeping them aligned on systems and processes, managing franchisee relations and more. So what does it really take to scale a franchise profitably?
On a recent episode of The Business Growth Show, host Ford Saeks sat down with Chris Walls, President and CEO of the portable storage franchise Go Minis, to get his insider perspective. With over 100 franchises sold and years in the trenches of guiding a franchise brand’s rapid expansion, Chris shared hard-won lessons on the keys to growth.
The Secrets for Growing Franchises:
- Selecting the right franchisees is critical – You need people who will follow the rules but also take risks in a controlled way. Key traits to look for include being entrepreneurial but willing to collaborate, hungry to put in the hard work, and recognizing that success comes from their own efforts.
- Communication and transparency fosters good franchisee relations – Regular communication, avenues for franchisee input like a Franchise Advisory Council, and incentivizing desired behaviors over punishments enables franchisees to feel heard and keeps the relationship strong.
- The franchise model offers scalable growth potential – As long as you can find storage space, the portable storage franchise can grow limitlessly without hiring many additional staff. This makes it appealing for existing franchisees to expand.
- The franchise brand establishes consumer trust and value – Customers recognize and trust an established brand name like Go Minis over a local “mom and pop” operation, allowing the franchise to win business and justify higher prices.
- Operating a franchise system requires managing all types of people – Franchise leaders need flexibility to motivate franchisees across the personality spectrum, from rule followers to “know-it-alls” who think they know better. Adapting support for each enables overall system success.
Successfully scaling a franchise system demands deftly solving countless challenges. Recruiting ideal franchisees, maintaining brand standards, managing complex relations – daunting puzzles confronting leaders daily.
However, amid the obstacles, legally-savvy CEO Chris Walls of hyper-growth franchise Go Minis sees the heart clearly: fanatically focus on enabling your franchisee’s entrepreneurial success first, while building brand recognition and preference second.
Savvy franchise leaders know these two success drivers matter above all, serving as compass needles directing strategic decisions. Nurture these key pillars, trusting the rest will follow with stubborn persistence to transform visions into reality, one empowered franchise family member at a time. The path is never smooth, but progress inches forward through support.
For more expert advice in business, sales, marketing, life, and everything in-between, tune in to future episodes of Fordify LIVE! every Wednesday at 11AM Central on your favorite social media platform, or you can listen to new episodes of The Business Growth Show Podcast every Thursday on the podcast network of your choice.
Chris Walls joined Go Mini’s as President and CEO in 2020. Chris has extensive business and legal experience having held both legal and operational roles in public and private companies. He worked with Real Media, Inc. as the digital advertising category established itself. He was the General Counsel for ecommerce pioneer Outpost.com and helped lead them through a restructuring and eventual sale. Most recently he has held operational and legal roles with technology and adverting companies.
Find him at GoMinis.com