1. I will help my Franchisees to manage their business effectively so they maximise their profits.
Make sure your franchisees are getting their own full financial statements on a monthly basis and that they are doing the correct analysis (ratios etc) to maximise the business in difficult times. Purchasing and stock control will play a major role.
2. I will work with my suppliers to achieve the best deals.
The suppliers will also be going through difficult times and we must make sure we secure the best deals – we might even achieve better settlement discounts or extended credit terms.
3. I will try and cut costs wherever possible – but only unnecessary costs.
I am sure if you look carefully you can cut out unnecessary costs.
4. I will ensure all the staff are trained to give customers a wow experience.
Your customers will have a reduced expendable income and will demand value for money. They will patronise outlets that offer Quality, Value and Service.
5. I will not cut back on marketing but rather ensure creative promotional marketing.
Whatever you do don’t cut back on marketing but rather ensure every rand works for you – you can measure marketing e.g. set yourself increased customer count targets.
6. I will keep motivating my franchisees in difficult times.
Your franchisees are only human and they will be down during the year. Keep positive and motivate them to work harder and achieve clear objectives.
7. I will continually review our price strategy and consider disproportionate prices.
Consumers will be looking for value. Make sure you remain price competitive and offer customers value – This does not mean you must be the cheapest because you can’t be the cheapest and the best.
8. I won’t just sell franchises without being responsible.
In difficult times only take a risk on behalf of the franchisees if you yourself would take the risk! Review sites and franchisee suitably prior to awarding the franchise.
In difficult times less is more i.e. rather sell less franchises that will be successful.