I meet a lot of high performance franchisees. They are always great people. They know their business. They have time to do what they want, they do not worry where the next dollar is coming from and they are confident that their store is running just as well when they are not there as when they are.
What is it that these high performers do that sets them apart? Well I am so glad you asked. It is not rocket science. Consistency is what it is. They have a “To Do” list. They know what they have to do daily, weekly and monthly to keep their performance high. Just as an Olympic athlete has a training timetable, High Performance Franchisees have a timetable too.
There is familiarity in a daily routine. Knowing what needs to be done without thinking about what needs to be done is the key. All high performing franchisees incorporate their business into their daily “To Do” list:
They monitor their KPI’s. It is quick and easy and takes just 5 minutes. Get to know the reports in your Point of Sale that give you the figures you need. It is usually just one report.
They check their goals both in the business and in life. Their goals are written down and displayed where they can see them often.
They plan their time. They have a regular weekly routine that is reflected in their rostering and is in their calendar.
They update the leadership team through an agreed communication medium that reinforces the daily schedule incorporating all Key Performance Indicators’ (KPI’s) and goals.
Having an ideal weekly schedule that incorporates all goals and targets allows high performance franchisees to achieve quality of life. Download the weekly planner here.
Complete the planner to build your “To Do” list – then enter this list as a weekly task into the calendar on your phone.
- Networking with other high performing franchisees in your network, even if it is just over the phone. A weekly phone call often increases your productivity.
- A regular management meeting, your manager will look forward to knowing that each week you can sit down one on one and address issues in your store.
- Rostering time, creating a detailed roster which incorporates all your KPI’s allows your team to know what sales budgets they have to meet, what labour percentage they are striving for, even the productivity level you are aiming for. Not to mention who is turning up each day to work!
- Employee compliance payroll and any other staff related duties such as interviews and training requirements.
- Weekly marketing activities
- A weekly in-store shift so that you get to know your staff. Choose a different shift each week. Looks for shifts that can benefit from your leadership qualities.
There should always be time in any business to stop and smell the roses – analyse where you are and where you want to go. High performance franchisees can always answer these questions in an instant, because on their “To Do” list they incorporate time to:
- Compare their Profit & Loss report to their budget by the 5th day of each month. They know where they have over or under spent and where they have either hit or missed their targets;
- Review Business Plan to be sure they are implementing their key business strategies to ensure they reach their yearly goals and they;
- Conduct Team Meetings. This ensures that the team are aware of the goals they are striving for each month, so that they can give great customer service and produce a high quality product
So here it is – your “To Do” list:
- Monitor your KPI’s
- Check my goals both business and life
- Plan my day
- Communicate with my leadership team
- Network with other High Performing Franchisees
- Management Meeting
- Employee compliance
- Marketing activities
- In-store shift
- Team Meeting
- Review Business Plan
- Compare Profit & Loss report to your budget
Elizabeth Gillam founder and CEO of Franchisee Success creates High Performance Franchisees. Having owned and operated three franchised food businesses; Boost, Healthy Habits and Bucking Bull; she knows what it takes to operate a profitable food franchise. In her recent book, Upsize your PROFIT – 6 steps to running a profitable food franchise she outlines how franchisees can ACE their franchised business unit.