Steve Thompson, president and CEO of FocalPoint Business Coaching, explains the benefits franchisees can reap from hiring a business coach.
Why should a franchise owner consider working with a business coach?
When you purchase a franchise, you are also purchasing the built-in support from your franchisor in areas like sales, marketing and training. However, as a franchisee you are ultimately responsible for the success of your business. A business coach offers an experienced and objective perspective on your business and can help you work through the issues you will face as a franchise owner. Franchisors do an excellent job teaching their franchisees the technical craft of operating a franchise. As business coaches, we won’t teach you how to set up your gym or make a better sandwich but we will teach you how to be more profitable doing so.
What are some of the business challenges that a business coach can help franchise owners with?
Franchise owners often have the feeling of having too much to do and not enough time to do it and this can feel overwhelming. A coach can help you find that elusive work-life balance by organizing your time more efficiently. Delegating to team members can also be a challenge for a franchise owner. A business coach can help you get out of this vicious cycle and decide what to hand off. The single most important factor in running a successful small business is a unified vision. However, strategic business planning falls by the wayside as franchise owners deal with day-to-day issues in the business. A business coach can help you create a map for the future and stick to it.
What should a franchise owner look for in a business coach?
A good business coach asks questions to help you triangulate on the key issues as you work together to find solutions. If you want to move your business forward, you need to be held accountable and a good coach will do this. Another thing to look for is whether your coach is using a proven, consistent system to guide you and your business. You want to know the system your coach is using has produced quantifiable results for businesses like yours. It is also beneficial to work with a business coach who has an understanding of the franchise business model. FocalPoint coaches are also franchise owners; they understand the unique challenges of being a franchise owner.