Operating a franchise business means being able to tap into meaningful support from your franchisor, and from other franchisees in your chain. Still, it always helps to have additional support to achieve your long-term business goals. Some of that support is going to come from partners in your local community.
There are many benefits to building partnerships with a range of organizations in your community. For starters, partners can provide an effective way to boost your customer base and gain exposure to new clients. Business partners can also help one another with different needs by sharing access to knowledge and resources, potentially creating mutual cost-savings.
Of course, partnerships don’t always have to be with other businesses. Sponsoring a local festival or youth sports team is a great way to raise the profile of your franchise and generate credibility and goodwill in the community where your customers live.
If you’re looking to establish beneficial local partnerships for your franchise business, here’s a quick look at how to get started, and how your business could benefit.
Build out your network and keep an eye open for potential partnership opportunities
One of the most common pieces of advice for franchisees is: Never stop networking. The people in your professional network generally play a big role in your business success story, especially those who become profitable partners.
To start building out your network, join business organizations and attend events in your community. As your contacts grow and new introductions get made, be mindful of the people you meet who complement your business in some way or offer intriguing possibilities for cross-promotion and co-operation, even diversification.
Choose your partners wisely! Credibility and alignment matter
Striking a public partnership with another business or organization is a sign of mutual endorsement, so ensure you’re properly aligned with potential partners before making any kind of concrete proposal. Credibility is on the line once your association becomes real. Sure, you can always withdraw from a partnership if things go sour, but that’s less likely to happen when all sides share alignment on their organizational goals and values.
Make a win-win offer
Once you identify the right partner or partners, it’s time to find a way to win together. How can you leverage your respective strengths to help each other succeed and grow? Make a pitch that provides mutual benefits to all parties. Don’t worry if you have to start small – great partnerships can grow and develop over time as trust and shared history deepen.
Use partnerships to hear directly from your customers about what matters most
Local issues are important to all of us, because they typically have the biggest and most noticeable impact on our day-to-day lives. Our home community is also where advocacy and activism usually start out. With that in mind, it’s important for any business owner to understand and be adaptable to the needs and desires of the community it calls home. Listening to customers is among the best ways to gain that understanding.
By building partnerships at different levels of your community, you can ensure exposure to a range of local voices and viewpoints and get access to the conversations people and decision-makers are having about what matters to them and their neighbours.
Show some community spirit with charitable acts for local partners
It’s important for businesses of all sizes to give something back to the community they call home, and charitable partnerships are the perfect way for franchise business owners to express their gratitude in a positive fashion.
Find a partner that suits your style, whether that means sponsoring a local event or club, donating your time or materials to a charitable cause, or opening up your business to offer community education or experience sessions. Make the whole thing more meaningful by getting your staff involved in the initiative – it’ll boost the exposure, and the opportunity to do good work.
Franchising with The UPS Store
Interested in joining a franchise with strong ties to local communities? Check out our upcoming franchise webinars and events, as well as our FAQ page for more info. If you’re interested in taking the next steps, please fill out our online form.
