A developmental relationship where a more experienced franchising professional helps a less experienced entrepreneur.
Definition
To focus on the overall structure, development and long-term growth.
Purpose
A low-intensity engagement whereas the Mentor is available for virtual meetings.
Intensity
More informal and holistic evolving around the needs of the founder.
Expectations
Long-term personal and professional growth, broader perspective and networking.
Sample Illustration
Guiding a founder on how to effectively communicate with franchisees.
Why a Mentor?
• Need a role model with extensive Franchisor experience.
• Need to gain invaluable insights to help with critical decisions.
• Need ongoing help to clear the path of any obstacles.
• Need emotional support and encouragement.
• Need a role model to share franchise experiences.
A supportive relationship in which a seasoned, been-there done-that former franchisor helps an entrepreneur achieve goals.
Definition
To identify specific skills & set realistic goals with a short-term objective.
Purpose
A moderate-intensity interaction whereas the Coach is available for virtual meetings & emails.
Intensity
More fundamental with structure, processes & goals to foster accountability.
Expectations
Immediate improvement in specific areas by focusing on & addressing core issues.
Sample Illustration
Instructing a founder on the necessary steps to engage with franchisees.
Why a Coach?
• Need coached in developing a franchising skillset & managing challenges.
• Need help with avoiding distractions in order to focus on the core issues.
• Need immediate feedback to minimize costly mistakes.
• Need educated by listening to real business situations
A strategic relationship to assist a franchisor founder with business planning, branding, marketing, relations and development.
Definition
To provide founders & teams with sound advice to solve challenging issues.
Purpose
A highly-intensity collaborative relationship where the Advisor is available for daily meetings.
Intensity
More discipline roadmap by advising on key time-sensitive business principles.
Expectations
Implement a proven framework to facilitate learning & accelerate growth.
Sample Illustration
Playing an interactive role in motivating the franchisees to follow a proven system.
Why an Advisor?
• Need a like-minded professional to complement the company’s vision.
• Need help with time management & team performance.
• Need a fresh perspective in fine-tuning our strategy.
• Need an advisor to help with execution & scaling.