Becoming a franchise owner is an exciting journey filled with the possibility of wild success and growth. However, navigating the world of franchising can also be daunting, especially for newcomers. From understanding the intricacies of the franchise model to managing day-to-day operations, franchisees face plenty of challenges on their entrepreneurial path.
Networking – of all varieties – can provide invaluable support for franchisees. It builds a supportive community that can maximize the chance of success, when encountering hurdles – like how to keep that perfect-fit employee you worked so hard to find. Or how to respond to a less-than-stellar customer review. From leveraging social media to participating in industry-specific forums, there are many avenues you can pursue to expand your network and open doors to new business opportunities.
The Value of Networking for Franchise Owners
Networking is a cornerstone of success for franchise owners. It provides a pathway to build relationships, share experiences, and exchange ideas with fellow franchisees. This can be anything from joining online forums, to participating in local events or attending industry conferences. Networking allows you to tap into the vast expertise within the franchise community.
It can be beneficial to define your goals right away. Are you looking for potential partners, suppliers, or mentors? Identifying this will focus your activity and maximize your networking endeavors. By connecting with other franchisees, you can gain valuable advice and learn best practices. You just never know when you’ll stumble into a conversation with the person who can help you solve that nagging challenge you’re facing at the moment!
Networking takes many forms…from in-person to behind the keyboard. This is great news. It means you can pick what works best for you as you balance running your business and growing your support system. Highlighted below are some of the most productive networking strategies to help you can create a plan of attack.
Franchising Industry Events
Want to supercharge your network? Find a reputable industry event or conference to meet like-minded professionals. This is a top-notch way to widen your professional reach. If you decide to invest the time and the dollars to attend an in-person event it can pay off tenfold – as long as you approach it with the right mindset.
Elevate your impact at industry conferences with these powerful tips to make EVERY event count:
Research and plan ahead
- Before attending, research the agenda and speakers.
- Choose the sessions and topics that align with your interests and goals.
- Create a list of anyone you know will be in attendance that you want to connect with.
Engage in conversations
- Be proactive in interacting with fellow attendees and have your elevator pitch ready and strike up conversations.
- Ask insightful questions during sessions, and actively participate in networking activities.
- Approach conversations with a sincere curiosity to learn from others.
Use business cards effectively
- They should be professional, current, and unforgettable.
- When exchanging cards, jot down a relevant note or follow-up action on the back.
- Consider a digital business card app – QR Codes are “in fashion” so try incorporating one.
Follow up
- Make a dedicated effort to connect with everyone you meet.
- Send tailored emails, find them on LinkedIn, or arrange follow-up calls and meetings.
- Nurture the relationships into long-term mutually beneficial partnerships.
By actively participating in these events and leveraging them effectively, you’ll expand your network, learn from the industry’s best, and unlock opportunities you never knew existed.
Leveraging Online Communities
In today’s digital age, online communities and forums have become invaluable resources for franchise owners looking to connect with peers. There’s an abundance of groups dedicated to the franchise industry. This means it’s fairly easy to interact with your colleagues near and far.
These communities can help you build relationships and tap into the rich experiences and acumen of others. Platforms such as Franchise Forums and Franchise Chatter provide a virtual space to ask questions and engage in discussions with fellow franchisees from anywhere.
Local Franchisee Groups
As a franchise owner, staying in touch with the local community is vital. Local franchisee groups or chapters within franchise associations offer the opportunity to connect on a more personal level. These local groups provide a supportive environment where you can meet face-to-face, share experiences, and collaborate on initiatives that benefit the local community.
From organizing charity events to advocating for common interests, local franchisee groups foster camaraderie and solidarity among franchise owners. This can take support and connection to another level. It’s also a great way to stay in-the-know on local issues and address potential concerns or impacts to your business.
Another related (but slightly different) option – join a local Business Association. The local chambers of commerce or business networking groups are a great place to start. This puts you in the mix with other active community members. Attend meetings to get acquainted with other business owners, and share info about your franchise. It’s also a way to seek out some feedback from potential customers. There’s no better way to keep a pulse on what they want!
Tackling Social Media
Love it or loathe it, it can be a powerful tool to expand your reach quickly and stay on top of in-the-moment happenings. You can collaborate with people you may never meet face to face, but you can also engage on social media with a local focus. Use it to establish connections with local residents and businesses. Share relevant news, promote events, and foster a sense of community by spotlighting customer stories.
Here are some helpful guidelines if this isn’t your thing:
- Create a professional online presence
Establish a professional profile on LinkedIn. This is widely recognized as the go-to platform for professional networking. Fully complete your profile and make it pop with a professional photo. Include a concise overview and details about your franchise business. Highlight your expertise, achievements, and the value you can offer to potential connections. - Share valuable content
It might take time to get to a point where you can illustrate your expertise. However, you can still provide value to your network by sharing insightful and pertinent content. Start by posting industry news, success stories you encounter, or educational resources you find helpful. Sharing valuable content will eventually position you as an authority and invite interaction with your network. - Engage with others
Networking is not a one-way street. Actively communicate with others in your online network. Comment on and share their posts, and offer support and advice when appropriate. By building relationships and providing value to others, you increase your chances of receiving the same in return. - Attend online networking events
The global pandemic resulted in many networking events shifting to online platforms. Take advantage of these virtual events to build relationships with professionals from across the globe . Much like the in-person networking events, the benefits are enormous – but with less time commitment and typically a low price tag (if any!).
Feet on the Street
One of the most powerful yet often overlooked strategies for building a support circle for your franchise business is the “feet on the street” approach. This hands-on method gets fostering relationships with nearby businesses and residents. This grassroots networking can significantly boost brand visibility and customer loyalty.
By being present and visible in your community, you can build trust and establish a strong local presence that larger, less personal strategies might miss. Additionally, these personal connections can lead to valuable word-of-mouth referrals and partnerships that drive traffic and sales to your franchise.
Embracing the power of “feet on the street” networking not only enhances your local marketing efforts but also solidifies your franchise as a vital part of the community.
Here are examples of how a franchise owner can effectively implement this networking strategy (with some marketing tactics sprinkled in!). Some require you to spend money but you can make the most if it by being present and actively interacting with attendees to ensure a strong ROI!
- Attend Local Events: Participate in community events such as fairs, farmers markets, and festivals. Set up a booth, offer samples, or provide information about your franchise to engage with potential customers directly.
- Host Community Workshops or Classes: Organize free workshops, classes, or demonstrations related to your franchise. For example, if you own a yoga studio, offer free sessions or wellness seminars.
- Sponsor Local Sports Teams or Events: Sponsor local sports teams, charity runs, or community events. This gets your name out and also shows your commitment to supporting the community.
- Collaborate with Nearby Businesses: Cross-promotions with other local businesses is a great place to start. For instance, a nutrition franchise could collaborate with a nearby gym to offer joint promotions or discounts.
- Volunteer for Community Projects: Get involved in local volunteer efforts or community improvement projects. This demonstrates your dedication to a larger cause beyond just your business and builds a strong reputation.
By actively engaging in these activities, franchise owners can create strong, personal connections within their community. This is a great way to enhance the franchise’s visibility and foster long-term success. With any of these activities, be sure you are in compliance with the regulations on guidelines of the franchisor. When it doubt, double check!
Closing Thoughts
Aspiring franchise owners, take note: Building a supportive community is essential for success in the franchising world.
You don’t have to go it alone!
Participating in networking events and getting you into your local community can help you build a massive toolkit of resources. These invaluable connections will serve you now and down the road in your entrepreneurial pursuit.
To learn more about franchise ownership request a no-obligation consultation with a FranChoice Consultant