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3 Things You Need To Know About A Franchise Package

Posted: 15 Jul 2018
Estimated Read Time: in about 13 minutes

Rob Deutsch, founder of F45 Training, details the three essential elements of a franchise package

3 Things You Need To Know About A Franchise Package

The first of the essential elements of a franchise package is a success proven model.

All franchisees should reap the rewards of running a tried and tested business system, backed by a globally recognised brand. A successful franchise is one that has invested considerable time and money into researching and developing the systems and technology that will alleviate franchisees of unnecessary distractions, so they can focus on the parts of the business that make a difference.

Systems are simply the procedures and tasks undertaken by the franchisor in connection with the day to day operations of a business. Every aspect of a business, including advertising, financial controls, employee management and customer service, can all be boiled down to a set of procedures and systems. Not every business is successful and not every system is effective or beneficial.

A success proven model is one that has previously been implemented by the franchisor and other franchisees and has been demonstrated to result in successful and profitable operations for the franchised business.

A good franchisor will have everything systemised and ready for you, from marketing and branding to site selection and approved vendors. The simplest way to ensure you’re buying a proven business system is to take a franchise from an established franchisor that has a large number of successful franchisees.

Ensure you do your research and ask the franchisor for a full list of all franchisees and delve into the levels of profitability, turnover and so on.

At F45, our premium product combined with our tried and tested business model are the key reasons why we have seen exponential growth globally and why our proven business model attracts so many entrepreneurs, corporate refugees, athletes and personal trainers.

Innovative technology

It’s no secret that technology is intertwining its way into many aspects of business, especially in the franchise sector.

There are countless apps on the market, from calculating your monthly budget and keeping everyone on your staff in open communication. There are specific online services that can be found in every niche market and guidelines to build an effective campaign via social media channels.

Instagram, Facebook, Twitter and other forms of social interaction provide visions for your customers and motivate them to participate. While quality service goes a long way, a prominent presence in technology is what will help you stand out from the rest and enable you to broaden your reach.

At F45, we have invested heavily into researching and developing our own systems and technology to help franchisees focus on the growth of their own businesses. Apps for iPhone and Android are available to franchisee owners, as well those for CRM and client management and booking.

Franchisees also have access to F45’s cutting edge software applications to assist in-studio, as well as in running the business behind the scenes. The end result is a highly automated operating environment that frees up franchisees so they can grow their businesses and enjoy a life away from work, rather than being consumed by endless hours of manual admin and paperwork.

Technology is now revolutionising businesses and the franchise sector is no exception. So if you’re considering buying a franchise, remember that technology makes businesses data rich and smart and will also attract new customers.

An ongoing support system

The beauty of franchising is that franchisees from all walks of life, with a wide range of different skills and backgrounds, can run successful businesses. At F45, we welcome franchisees from all industries with a variety of professional experience, from ex-athletes and corporate refugees, to personal trainers and entrepreneurs.

You most definitely do not need to be a veteran of the fitness or franchising industries to own a F45 franchise and succeed. The main reason for this is the high quality training and level of support we have in place, which should come with any successful franchise package.

Support systems are bespoke for franchises and the support received will depend on the industry, size of the franchise, financial capabilities and culture of the franchise system.

The best franchise to invest in for a novice business owner is one that prioritises the development of franchisees and whereby franchisees are adequately trained and prepared to run a profitable business.

Assistance may include assessing and acquiring suitable sites, plus advice on the type of location, size of premises required, rent, rates and lease terms.

As well as initial training, franchisees should also make certain that they receive ongoing training and development, as this will help them maintain the success of their franchise. This may include making additional investments to improve customer/ member experiences or working overtime to satisfy demands. An ongoing support system will also allow franchisees to recognise changes in the way the business is conducted and the nature of emerging competition.

F45 strives to provide our franchisees with access to ongoing training through our online portal, as well as training and education days, which are run globally on a regular basis.

Executives and business owners all rely on proven support systems and partners to help them push past plateaus, smash through barriers and get them on their way to greatness and the built in support system offered to F45 franchisees is a prime example of how this can be achieved.

 

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