The benefits of peer learning and support in franchise systems
By nature, many franchise owners are independent. It’s one of the reasons they’re so well fitted to franchise business ownership. But it’s important to realize that learning from and supporting other franchisees leads to success for individual franchisees—and the system as a whole.
When franchisees learn from and support each other, they build a community of trust and abundance. This culture of trust and abundance has several benefits for your individual franchise business. These benefits include the ability to learn best practices from the field from your peers, access to motivational support in running your own business, and cumulative impacts of successes across a franchise network.
Learning From Peers
Those who are recognized for being great at what they do will say they’ve learned from others in their field who were successful. They’ll also understand the value of learning by teaching.
When you support other franchisees, you are using the learning by teaching method which helps you clarify not just what you’re doing in your business, but why you’re doing it. This clarifies your own processes and helps you improve yourself.
Learning and supporting other franchisees is a valuable give and take, particularly for franchise organizations that use an exclusive territory franchise model. Not only do you share what is working and not working in your own business, but you get to learn the same from others. No matter who you are talking with, you get to gain valuable insights from what they’ve tried and how their efforts performed. These insights help you plan for your own sales, marketing, and operations performance improvements.
In your franchise business, there will be times when you’re unstoppable—and others when you’re wading through the mud. Engaging with fellow franchisees provides you with a community that you can tap into for motivational support when you need that adrenaline injection.
Building a learning and support network with other franchisees is like having a workout buddy. They’re experiencing the same challenges and successes that your are, and they’re going to be among your best cheerleaders whether you’re celebrating or needing a confidence boost.
Local Success Helps Everyone
The beauty of a franchise system is that your business gets to experience pooled benefits. When one franchisee is successful, it helps raise the profile of the brand as a whole—and everyone connected to it.
For example, when one franchisee closes a big deal with a recognized brand, everyone gets to use that brand recognition in their marketing and sales communications. Further, the more delighted customers each franchise location generates, the more likely it is that other franchise locations will benefit from happy customer referrals, testimonials, and reviews.
Conversely, if a customer has a poor experience with a franchise location, it can permeate throughout the rest of the franchise system. It’s in everyone’s best interest to help develop and support each other to stick with critical processes, brand guidelines, and customer quality assurances.
When you invest in a franchise opportunity that provides exclusive territories, a community of ongoing learning and support from your peers is just one of the benefits you’ll experience. If you’d like to learn more about how Crestcom franchisees learn together and support each other, contact us today!