Key Ingredients for Franchise Success
Running a profitable cleaning franchise requires juggling a number of key factors – mainly planning, cash flow and publicising your company’s services. Consequently, being a franchisee is no mean feat. We have rounded up our top five tips designed to help you reach franchise success:
1. Make a plan and stick to it
Planning should be one of the key elements of your business – both day to day and longer term. Knowing your short and long term goals are vital, as well as how you are going to get there.
Not only should you have a clear idea of where you are heading, you need to be able to adapt to change, quickly and without losing resolve.
2. Utilise franchise support
Your franchisor should have a solid support offering and be willing to walk you through the early stages of your business and teach you how best to operate. Ensure that you maximise the opportunities and potential offered – you have paid for it, after all.
At MCS, we support our franchisees in every way we can, offering hints, tips, case studies and valuable information that helps businesses stand the test of time. Our operations manual contains all of the information and know-how a company needs to run successfully, and we are always ready to help.
3. Keep track of cash
Many new companies underestimate the working capital that is needed to keep them afloat in their stage of growth. Monitoring cash flow enables you to make informed decisions about your business and to make projections for the months and years ahead. It also enables you to be realistic with your figures, which is key.
The more people that know about you, the more chance you will have of securing new business. That means that getting out there and shouting about your services means more cash in the bank. Try and find local networking events that may be of benefit, or approach your Chamber of Commerce for membership and advice.
5. Keep on top of paperwork
Rather than letting all of your paperwork mount up, attacking it little and often is key. By breaking it down into manageable chunks, you will prevent mistakes from happening and any end of year panics.
Owning a franchise can substantially reduce the risk of starting a business yourself. As an MCS franchise partner, you buy the rights to develop your business while benefitting from our full support. You can find out more about our franchise opportunities here or contact us for further information.