If you are thinking about becoming a franchise owner, it’s a good idea to learn more about what the job actually entails. By understanding the work tasks and responsibilities that are associated with owning a franchise, you can better determine if it’s the right career move for you.
When you first become the owner of a franchise, the franchisor will help you with initial setup, strategic planning, turnkey systems, and ongoing support. That, however, is just the start of your business. Being a successful franchisee takes active participation, commitment, and hard work. Below are some of the duties you’ll likely be responsible for.
6 responsibilities of a franchisee
While every franchise is different in regards to services, products, and conditions of being a franchisee, the following information is a general overview of what you would be responsible for in your business.
1. paying for the business
In order to become a franchise owner in the first place, you’ll need to pay a large a sum of money upfront to open up your business. The franchisor can help estimate costs, but these costs can vary depending on your location. You will also be footing the bill for things until your franchise becomes profitable, but you’ll reap the rewards once it is.
2. hiring and training employees
One of the most important and rewarding franchise owner job duties is managing a team of employees. This responsibility includes recruiting new employees, effectively interviewing them, and making strategic hiring decisions. Once new employees come onboard, you will also be expected to train them and ensure that they follow all of the standards that you and the franchisor have set. Fortunately, most franchisors will provide you with the resources you need to train and manage your staff.
3. connecting with customers
The owner of a franchise business deals with customers nearly every day. In addition to handling the normal business needs, typical franchise owner job duties include handling customer complaints and resolving issues that arrive. You’ll find out quickly that the adage “the customer is always right” really isn’t true. Customers can be rude and even take advantage of your business if you let them. It takes a certain temperament to handle situations effectively without damaging your business. However, as long as you remain patient, understanding, and empathetic, you should be able to overcome any difficult customer interactions.
4. franchise guidelines
In addition to training, you will have franchise guidelines to follow. Some franchises manage nearly every aspect of your business – from inventory to pricing to accounting. It can feel constraining at times, but there is a formula for what works and following it is your best pathway to success. Also remember that the franchisor has your best interest in mind and wants you to succeed. So if you ever have any questions about guidelines, or any suggestions for how to make things better, don’t be afraid to say something.
5. royalty payments
In addition to the initial fees, franchise owner responsibilities include paying a percentage of monthly revenue to the franchiser. These are the monthly royalty fees, which are ongoing for the duration of your agreement. You will be responsible for accurate accounting of sales and making the payments that are detailed in the franchise agreement.
6. marketing your business
The franchisor may handle advertising and marketing on a large scale, but it is usually up to you to create and manage your local marketing efforts. These can include TV and radio advertisements, events, social media and other digital ads. By staying on top of digital marketing trends and researching your target audience, you can ensure that your marketing efforts are successful.
learn more about being a VaporFi franchisee
Being a franchise owner can be a rewarding way to start your own business without having to start from ground zero. For more information on franchise owner job duties, contact us. At VaporFi, we manage and work with franchise owners all across the country. We love speaking with and preparing new franchise owners too. Let’s talk about how you can benefit from becoming a VaporFi franchise owner today.