Saturday, 17 March 2018

Franchise Conferences

A key element of any successful franchise system is open communications between the Franchisor and its Franchisees. Franchisors often incorporate annual or bi-annual conferences as part of their franchise system as a means of encouraging such communication.

Attendance at conferences by Franchisees is typically set out in the terms and conditions of their Franchise Agreement.

Conferences can be an expensive exercise for both the Franchisor and Franchisees so it is important that it be conducted well.

For Franchisors there are the issues of:
  • Location; 
  • Timing; 
  • Costs; 
  • Logistics of setting up; 
  • Preparation time; 
  • Obtaining appropriate speakers; 
  • Determining topics to cover;
  • Preparing and collating any relevant documents or material;
  • Etc 
For Franchisees there is:
  • Time away from the franchised business; 
  • Travel costs; 
  • Accommodation costs; 
  • An opportunity to voice any concerns with the franchise system or more generally;
  • Etc 
Generally, Franchisors adopt conferences as a method for:
  • Encouraging Franchisees to get to know other franchisee participants in the network; 
  • Knowledge transfer; 
  • Strengthening bonds and camaraderie within the network; 
  • Reinforcing the strategic direction of the franchise system and brand; 
  • Operational matters related to the franchise system; 
  • Gathering feedback from Franchisees; 
  • Introducing new or innovative products or services; 
  • Providing training; 
  • Assessing competencies; 
  • Acknowledging outstanding achievements by particular franchisees through internal awards. 
If undertaken well, a conference can help drive sales, uplift franchisee satisfaction, increase franchisee skills, foster greater alignment between the Franchisor and Franchisees, improve system compliance, and otherwise encourage overall positive outcomes for the network.

Contact us for further information:


Disclaimer

The material provided in this document is for general information only and is not to be relied upon as advice. No responsibility is accepted for any loss, damage or injury, financial or otherwise, suffered by any person or organisation acting or relying on this information or anything omitted from it.

Copyright © Greyson Legal 2018, All rights reserved.