For three days every year, National Franchise Convention (NFC) offers franchisors the chance to attend presentations, listen to keynote speakers, and join collaborative sessions to obtain exclusive insights into some of the biggest issues facing franchisors.
This year’s event focussed on arguably the most important part of any franchise: the people.
Managing people, helping them manage themselves and looking after their interests is a huge job, but – as NFC2018 demonstrated – an incredibly important one.
Here I’ll be outlining three key lessons from NFC2018 that have the ability to improve your success as a franchisor, and that of your business.
1. It all starts from the top
While franchises need the collaboration of many to achieve success, it all starts with those at the head of the business – franchisors, franchisee owners and managers.
These are the people who make the decisions that impact staff welfare – critical for the success of your franchise, and particularly pertinent at a time where many franchisees have been called out for payment breaches and other staffing failures.
Former Premier Jeff Kennett was selected as keynote speaker, and sponsored by LeaseEagle, to present on this topic – and for good reason. As a highly experienced and knowledgeable leader, he has a deep understanding of the many issues of people management, including:
- Juggling the needs of different people,
- Maintaining clear and appropriate communication, and
- Supporting people towards success.
Your franchise can only operate as well as the people in it. And they can only do their best when they’re managed correctly from the top down.
Good governance isn’t just about ticking regulatory boxes. It fundamentally requires enlightened management: supporting, empowering and investing in your people – creating a trickle-down effect that helps to produce a happier work environment, happier staff and ultimately, better business performance.
2. Good governance requires the right information management systems
As your business grows so does the amount of your data – and the need for you and your people to be able to manage it in an accessible, convenient and reliable way.
Franchisors who attended our NFC2018 round table talked about some serious challenges they faced when implementing information management systems during periods of business expansion. These included:
- Keeping systems up to date,
- Knowing which systems to buy, and
- Maintaining ongoing investment in systems that will grow with the business.
If your systems aren’t keeping up, your ability to run, and grow a successful business – and empower your people to do the same – is going to be compromised. Not only that…
An often-misunderstood side-effect of that is: the impact inadequate systems has on your people. Lack of access to the right information when it’s needed the most. Failure and frustration from inefficient processes. Stress from the greater risk of errors and missteps. All of these systems-related impacts will affect the performance of your staff – and their job satisfaction.
3. Good systems improve job performance and satisfaction
When it comes to managing people, it’s important to look at the big picture, and fully consider what a good work environment should look like.
Happiness and job satisfaction don’t just come from high wages or friendly colleagues. Other factors – like the quality of business systems and tools made available – are also critical in employee performance, satisfaction and even retention.
Rather than focusing on just the here and now, in order to improve team satisfaction and performance it is important to:
- Provide appropriate organisation systems tools
- Support the practice of good governance
- Minimise the occurrence of laborious and mundane tasks
- Empower staff with the information they need to deliver for your business.
Information management systems shouldn’t be seen as just a way to store and sort information, but as a productivity tool to empower the efficiency of the people behind the business.
The right information management systems can help you:
- More effectively communicate with the people in your business
- Deliver information to help empower them to succeed
- Enable a greater level of autonomy whilst also promoting a more collaborative environment
Are your systems helping your people be their best?
Listening to franchisors, not just at NFC2018, but in Australia and overseas, all year round, has taught us that there can be some trepidation around considering new systems.
Why not let a systems specialist with intimate knowledge of retail franchise operations help you:
- Understand key business requirements
- Identify systems to help meet your needs
- Future plan, allowing flexibility needed as you grow
- Customise systems to best support all user’s
Talk with LeaseEagle
When it comes to the right information management tools for franchising, flexibility and ease of use are keys.
In addition to lease management, LeaseEagle also offers retail franchisors extensive tools for managing their franchise agreements and store portfolios.
Using the same ‘easy to use’ Cloud portal, Franchisors can fully integrate franchisee commitments, documentation, financials and reporting into a single source of truth across their portfolio. Also configuring up to a hundred custom fields to fully capture business-specific and even operational data.
By delivering a fit-for-purpose software system you can provide for people at all levels of your business, enabling access to the data they need when they need it, and the automation capabilities to leave behind those risky and mundane manual tasks and processes.
For help to grow your business through people power, contact LeaseEagle on 1300 887 609 or contact us here.