Have you ever considered growing your business by creating a franchise – but thought it was too costly? Mini-Franchise software from ServiceM8 could change the way you look at franchising a business – especially if you have a successful/growing engineering service company – and are struggling to employ the best staff!
A mini-franchise is ideal for an established business owner looking to reward or motivate an exceptional team member. However, you might also want to consider this option if you’re looking to spread risks. Mini-franchise software from ServiceM8 allows your company’s brand and trademark to create a separate service business that will be managed by a partner of your choice.
A mini-franchise might come into play when one of your employees performs beyond their targets, but it seems like his/her motivation is starting to fade. To prevent the employee from leaving and becoming your competitor, the best solution might be to form a partnership contract with him/her, i.e. create a mini-franchise.
As with a traditional franchise, the mini-franchise will operate as part of the umbrella brand, but the franchisee has more freedom and responsibility compared to an employee.
How Is a mini-franchise Different from a traditional franchise model?
Who might benefit from a mini-franchise?
The mini-franchise model is definitely not suitable for each and every company, but many might want to consider it. An example might be an industrial cleaning company, where it is important that the technician feels that their customers are theirs, not the main company. Having a mini-franchise in the service sector allows the mini-franchisee to concentrate on building and maintaining their customer base, while the company can place more emphasis on marketing and training activities.
A mini-franchise has another important advantage. It alleviates workforce shortages, as people are far less likely to end this kind of employment/partnership and jump ship to another company. The added sense of ownership makes them far more invested in what goes on in the business – and its overall success!
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If you would like to have a chat about how Mills Consulting Group could help you with mini-franchise software from ServiceM8, within your engineering service company – simply schedule a call at your convenience.