Recessions are always a possibility, even when an...
Many Canadian small businesses and franchises run lean. If the owners can do something themselves, they will. In short, if you can handle your own employee training, bookkeeping, marketing and the other tasks involved in the management of your franchise, you can save the money you would otherwise have to spend getting someone else to do it. If you decide to run your Canadian franchise yourself, here’s what to consider.
Know your limits
Running your franchise will mean a lot of work, but it is very rewarding at the same time. However, there’s very few rewards in life that are worth running yourself into the ground and ignoring your personal interests and your family. Once this starts happening, you may need to consider your next move.
Recognize when you need help
Only you will know when you’ve become overworked. Keep an eye on your performance overall and your general mood. If you’re stressed often or your performance isn’t what it once was, you may need to start to losing some of those responsibilities. As your business grows, it may be in your best interests to hire a manager.
It can be tough to decide to hire a manager, especially if you’re a person who wants to do things your way and be in control. However, this way of thinking can actually cause problems when you’re in a Canadian franchise as the willingness to do work according to the franchise system is necessary for your success.
Find the right management
If you decide that you need a manager for your business, you’ll need to find the right person for the job. Otherwise, you may end up even more stressed than you were before.
First, consider every task you want to pass onto a manager, and sketch out this role as clearly as possible. If you’ve already been managing for a while, this will probably be easy. If not, you can shadow other manager in the same franchise or speak to your franchiser for advice.
After you have a solid outline of what your manager will do, create a manual for training that covers how you would like those things done. When it comes to the processes mandated by the franchiser, their way will be paramount, but there is often still room for some personal preferences.
Use your outline to draft a job posting, and be sure to vet candidates carefully. Don’t settle at any time during the hiring phase. The manager will be representing you and your franchise, so you need to find the right person for the role. This means looking beyond just experience and skills and into other areas, such as character and attitude. Ultimately, you want to feel 100 percent comfortable leaving this person in charge of your business.
Once you’ve got your manager, make sure to check in with him or her on a regular basis. You’ll get both peace of mind and valuable insight from the right person, so always have your finger on the pulse of your management and your business!