I have written on this topic many times with varying degrees of specific content. This time it is about trust in the franchise system. Not necessarily trust in the business model or trust in the brand although those are also of the utmost importance. Rather, today it is about trust in the Franchisor itself, trust in the franchisor’s people.
How can you tell if the franchisor can be trusted? Of course, there is disclosure documents and the letter of the law within the actual franchise agreement but what does your gut tell you.
I suggest two ways to determine ‘trust’ in a franchisor;
- Use that disclosure document to your advantage by calling as many of their franchise partners (franchisee’s in normal speak) as possible. Ask those franchisee’s point blank. Does the franchisor do what they so they are going to do, can you trust them in what they are saying?
- How does the franchisor act? Act with you when you are dealing with them, act with their franchisee’s? This is where your instincts come into play. A franchisor that nurtures relationships with its partners or franchisee’s, builds trust.
So what does trust even mean in franchising? Trust enables you to execute on objectives that are beneficial to your business. Trust lets you open the door to the help and experience that a franchisor can provide.
