Faithful Fastsigns

by FBR

A lack of trust can often form between many franchising partners and their corporate teams. When franchisees feel as though their concerns and questions are not being heard there is breakdown in franchisee/franchisor relations. One of the most critical factors in any successful franchise system is the relationship between the franchisees and the franchisor. Listening to franchisee is a great way to generate ideas, receive feedback and learn best practices. Since franchisees feedback comes from their experiences on the front lines, it is very valuable and can teach a lot about what’s working and what’s not.

Catherine Monson CEO of Fastsigns recognized the need to establish a strong franchisee and franchisor relationship. Catherine has worked with the corporate team at Fastsigns to implement a strategy of “getting back to basics”. She developed an incentive program, and monthly company meetings for sales updates, program developments and company announcements. Developing rapport and trust among the franchise partners is crucial to re-establishing communication and creating motivation within the company. Fastsigns developed four key objectives that would help align the team on our common goals: improve franchise profitability, drive top-line sales, increase the value of the Fastsigns brand, and increase franchise partner satisfaction. Catherine began hosting monthly calls to the entire franchise system and went on a road trip to meet and engage with as many franchisees as possible. The calls and visits not only created trust that the corporate team was concerned and willing to work the franchisees but also gave franchise partners an opportunity directly voice their concerns. The strategy created confidence in the franchise system and helped build credibility with the corporate team, dramatically improving relations.

Another successful method that can generate similar positive outcomes, is sitting down with franchise partners at annual conventions or meetings to discuss how they think things are going within the franchise system. These discussions will provide useful insight and emphasize any issues that may need to be addressed. Letting franchisees participate in one-on-one or group discussion demonstrates a willingness to listen and a sense of connectivity. Another solution, if annual conventions are not practical for your company, host a series of ongoing webinars. A webinar is another way for allowing a two-way communication for franchise partners to ask questions or express concerns.

These straight forward approaches that Fastsigns has been using helped build trust and communication within their franchise system. The results have paid off for Fastsigns and the company continues to focus on communicating their core values and vision. Understanding the needs and concerns of your franchise partners will create a relationship that is full of trust and will lead your company toward a future of great success.

Women Entrepreneur

FASTSIGNS International
Cash Req: $75,000 Total Inv: $168,985 - $295,103

Our mission is to help our franchise owners build gross sales and profitability. We realize our franchisees are our clients and will do whatever it takes to ensure their happiness and respect. We think the sign and graphics business is a dynamic, fun, and creative business. A business that allows you to control your future, be actively involved in your community, and provide needed solutions to business customers of all types.