Brand Value in a Franchise
Picture this scenario, so you’ve made a name with your brand and is looking at expanding it though a franchise business model. After sending your franchisee with proper training, they are sent off to run the business complete with your standard operating procedures (SOP). You continue to collect franchisee fee and because of how rapidly your business is expanding, you may have neglected your brand value.
Preserving Your Brand Value
Did you know, your brand bears the hard work that you have invested in through the years. Other than ensuring the software (e.g. trained talent) and systems are in place, it is also important to ensure that your brand retains its value. Without proper control and planning, your brand value may be eroded over time resulting in diminishing income.
Therefore we cannot stress enough on the importance of regular checks on your franchisee to ensure that they adhere to the brand image that you would like to portray. Sometimes your franchisee could be too focus on building the business and overlooking the such details or when fixtures start to break down in their shop and they do not have reliable handyman contacts to fix what has broken.
Regular Brand Audit and Maintenance Can Save You Money!
So what can you do? Other than hiring your staff to go around your franchisee outlets to inspect your outlets, Mr Wright provides a one-stop service for brand audit and repair to save you time and money. Based on industry estimation, a franchise without a structured preventive maintenance schedule tend to pay 30% more for ad hoc repairs and material purchase. This could translate to higher maintenance expenditure in the long run, not to mention, the down time will result in loss of income.
Therefore we would like to suggest that you engage with a reputable industry player to audit your outlets for you, draw up a preventive maintenance or repair schedule to minimise downtime and to ensure that your brand value is preserved. The optimal number of audits we recommend would be at least twice a year for each of your franchisee.
What Can Mr Wright Offer?
Speaking of reputable industry player, did you know that Mr Wright can customise a regular periodic check on your franchisee and recommend preventive repairs to avoid downtime and save your franchisee and you hefty repair costs. With more than 20 years of industry experience under our belt, we are able to identify common wear and tear areas as well as areas not at the line of sight to check for maintenance needs. All this work is to minimise down time for your franchisee and to ensure your brand value is preserved.
Our point based system check will ensure that your brand audit and repair needs meets both your brand and operational expectation. This saves you time to focus on more important things such as charting your business growth and expanding your franchisee network. No matter how big your network is, Mr Wright is here to help. So go on, call us now for a non-obligatory discussion and leverage on our expertise to save you time, money and hassle as you expand your business.