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how do i improve my business

currently own a franchise, it has been 7 months since taking over. at the started we had amazing staff and team then ,headoffice pretty much took all of our staff and manager and left us to find a new team, we went from making 20 thousand a week to now 10 on a good week! no help with training new staff from franchise or help on how to improve our business! with sales ect we are left stuck and dont know how to pick it up! have lost 80% of clients due to the change and staff turnover! any advice on how to fix it?

3 Answers

Hey Sophie - you have many things to do. I suggest 1. dont rely on your franchisor as they are most interested in your monthly fees. Leverage the fall in sales as a call to action to the franchisor to come to the coal face of your business and spend say 4 hours, twice a week for four weeks. 2. Reach out to the those clients you have lost and discover why they have chosen another supplier. 3. Connect with relevant local business groups and ( as suggested) do some cross promotion or joint complimentary campaign with a local business to share the costs and drive new business. 4. When employing new staff contact Centrelink to discuss traineeships and employee subsidised incentives and support. I once owned a Registered Training organisation and there are many motivated local training orgs that need small business will help you to take on new staff. You have your hands full and likely working long days. Seperate the critical growth strategies from your day to day and DO NOT get caught up with the mundane tasks that you can employ someone to do. You are your best asset and spokesperson of the business so focus your energy on driving new business. Keep your money for selected consultants who can truly add value at a time when the foundation of the business and key staff are set. Good luck and keep the franchisor attentive to your needs. Terry

Hi Sophia, I can fully understand your frustration as to what has happened in this situation. My brother had 2 franchises in the food industry so I know quite a lot about what goes on. I understand your current staff are not as good as the previous staff . I found it hard to believe revenue has dropped from $20k to $10k per week and you have lost 80% of your clients. My advice would be as follows -: 1. You must do whatever it takes to get as many good staff as possible and this could include offering staff currently working in the industry a good offer to come and work for you even if it costs a fair bit more. If your franchisor won't assist with training you need to find good training services. Once you have good staff again you have to do something about getting new clients to replace the ones that left. You will need a Mentor in the area of marketing as there are so many ways now to promote your business. One very good option is to do a Cross Promotion. It is very low cost and works really well. Ideal for your industry, hair dressers, beauty salons etc. If you are interested I can email how it works and a case study of how a hairdresser made $65k from one Cross Promotion. All the best. Regards Jeff Gordon, Financial Accounting Advisor, Prestige SME Business Solutions, info@prestigesme.com.au

Hi Sophia, what a pickle! I would be looking at your franchise model and see what they have to offer you in regards to new staff training and it may be a good idea for a lawyer to review it to. As for building up your business you will need to find staff that are on the ball straight away and who will need minimal training and who also see themselves sticking around for the long term to help get the customers back in the door and keep staff turnover to a minimum. Can you do half day training days for staff until they are 100% up to speed or is this not in your cash-flow to conduct this? The key is continuity and as you said you have a high staff turnover at the moment and have lost customers so trying to get that continuity back is vital. Have amazing customer service and be the best of the best. Review your numbers and see if you are able to get a marketing person to assist you in getting the right message out about your business (again check your franchise contract to ensure you can do this). You know what the business is capable of so getting back that original vibe is important.

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