The essential elements of a good Franchise System

Owning a CENTURY 21 franchise is more than just a financial partnership – it is about establishing and building a business within your community and maintaining long term value.  One of the best ways to achieve ongoing success and a good reputation for your franchise is to ensure that the systems you have in place allow for its smooth running on a day to day basis.
 
Having a solid franchise system will be greatly beneficial to your organisation.   In the residential property market, for example, operating a good franchise model can help to position your company so that is able to withstand periods of downturn and take advantage of attractive opportunities quickly.   

Whilst CENTURY 21 can assist your franchise by offering strong branding, training and support, it will be of most value to you as the owner and manager of a franchise, as well as your team, to establish and develop good systems and structures that you find to work well for your particular circumstances.

Ensuring the presence of the following elements can help to strengthen your current franchise system:

1. Ethical standards
An obvious ingredient in a healthy and strong franchise system is the presence of ethical standards, which should be evident throughout your operating systems and employee manuals.  Encouraging a fair and moral workplace will provide a compass for your staff to look to when they are faced with difficult situations, ideally allowing your franchise to avoid mishap. 

2. Trust
Trust is a very valuable ingredient for any business.  For a franchise to run smoothly, trust must be present at a number of different levels – between the franchisee and franchisor, the franchisee and employees and the franchise and its customers.  Taking steps to develop these relationships should help to enhance the success of your business, while making it somewhat easier to work through problems that may arise.  

3. Communication
A good system should provide the regular information necessary for you to make informed and appropriate decisions.  In today’s world this means you need to be utilising various channels to communicate with clients and staff.  Employing clear methods of communication within your franchise will enable you to stay up-to-date and ahead of the real estate game.

Maintaining a strong internal system for your CENTURY 21 franchise will help your everyday business to run smoothly without needing continuous intervention, enabling you to focus your energies on other priorities.  A well-established system with clear ethical standards, trusting relationships and effective communication should go a long way in helping your business to achieve considerable growth and success. 

Posted by George Tarbey on 14/02/2011 at 12:31 PM | Categories:

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