How To Manage Your Employees After Buying A Franchise

What can make or break a franchise is customer service. A successful franchise focuses on creating an unrivalled customer experience that keeps the customer’s satisfied and coming back for more. The key to perfecting your customer service is good employees.

Without dedicated and skilled employees you’re setting your franchise up for failure. Franchisees who treat their employees well will find their customers are also treated well. Unfortunately, many franchisees struggle to retain staff long term. Often this is because a franchise job is not considered a career.

Successful Franchise
Successful Franchise

Learning how to manage and motivate your employees is a great way to reduce the turn-over rates and improve your customer service.

Share the franchise philosophy and operation knowledge

Regardless of the type of franchise you own, sharing the company philosophy and operation knowledge is required to run a successful business. Your employees need to know what is required to operate a winning franchise. They need to understand the roles and responsibilities of not only their position, but others in the team. They need to have a clear understanding of the brand and what the company stands for, so they can represent the franchise to the best of their ability.

Don’t skimp on the training

Typically, the franchisor will train the franchisee and one other member of the business. This could be your spouse, business partner or manager. Training of individual employees is left up to you. If you want to succeed, you need to impart the training you received as well as your experience and expertise onto your staff. To do that, you need to allow significant time for the employees to assimilate the information and tasks at a gradual rate, not simply on their first shift. Give them time to familiarise themselves with the operation manuals. Demonstrate how you want things to be actioned and allow them to repeat it with you. Continue to provide ongoing training so your employees can feel valued and get better at their job over time.

Managing Your Employees
Managing Your Employees

Foster a positive culture and working environment

Buying a business 101: Make your working environment and culture a positive one! If your employees enjoy coming to work, they’ll work harder for you. A positive attitude starts with you and your franchise management. Maintain good, honest relationships with your employees and be sure to acknowledge when they’re doing a good job. Stamp out negative behaviour like harassment or bullying as soon as it occurs. Meet with your employees regularly and allow each member to contribute with feedback about the working environment, business structure or customer service.

Create an incentive program for your employees

Building a dedicated staff requires continual focus on your behalf. Establishing an incentive program is one way to encourage your employees to work harder for the success of the business. By providing incentives your employees will reap the rewards of your success too and they’ll want to achieve more. In addition to individual incentives, such as a financial bonus, setup some group incentives like a weekend away or a dinner. That way, they’ll work harder as a team to encourage and push each other to do a better job. In the long run this will result in a stronger and more successful crew.

If you’re a franchisee chasing success, managing your employees and creating a positive working environment is vital.

A First Home Buyers Guide to Melbourne

Buying your first home in Melbourne can seem far away when prices keep increasing at a rapid rate. There are some things that you can do to get you closer to your dream property whether it be a unit, single front weatherboard or double story home.

Budget for Buying a Home
Budget for Buying a Home

Budget

Getting mortgage approval is an essential step in house buying, but gaining pre-approval will provide even more peace of mind. To speed this process up, write a list of all your current expenses for several months to get a good sense of how you’ll be able to afford repayments.

You may opt to engage a broker or directly approach a lender yourself, but the key is to ask as many questions as you need. The people who assist you with your loan application have done this hundreds of times before, so draw on their expertise and get a sense of how long the process will take given your specific circumstances. Don’t forget to get your paperwork in order which may include proof of identification, payslips, proof of assets, evidence of savings and PAYG statements. Electronic versions of these in many cases will be okay.

Maximise Savings
Maximise Savings

Maximise savings

Recent State budget measures will provide some savings for those purchasing their first homes in Victoria. Stamp duty, the Government’s land transfer fee, will be abolished in the future for eligible first buyers on property purchases under $600,000. Properties up to the value of $750,000 will also receive a stamp duty discount based on a sliding scale.

Also announced are measures that allow voluntary super contributions accrued from July 1, 2017 to be used by first time buyers for house deposits. This equates to a tax break when you salary sacrifice from your pay check into your super until you are ready to purchase.

Off the plan sales concessions on stamp duty already exist for those purchasing house and land packages and remain a great way to save on sunk costs when purchasing your first home.

Purchase Your First Home
Purchase Your First Home

Reconsider your area

The value of your home is predominantly land based and as suburbs and cities expand, it is becoming rarer to have a decent amount of square meter age. If being squashed into an apartment or suburban residence far from your job isn’t your idea of the Australian dream, perhaps it’s time to reassess where you have been considering purchasing.

Satellite cities are becoming popular among first home buyers, with areas such as Geelong and Ballarat providing good value for money. Many younger families and professionals alike are making the change to regional towns whether it be established properties or house and land in Geelong that are only 50 mins to Melbourne via car.

Ultimately, consider the lifestyle you want and find an area that will suit you and your budget best, it may surprise you where you end up calling home. If you do some research and explore your options, you may find your dollars can stretch further than you thought and get you in your first home, sooner.