How to Acknowledge and Reward Your Highest Performing Franchises
A great leader motivates and empowers their team. This can be more challenging in a franchise, where the structure can create barriers between top management and individual franchise owners. How can leaders overcome these obstacles to acknowledge and motivate their franchisees effectively?
Understanding Motivations
People are driven by various factors, not just money. Competition is a significant motivator, where franchisees strive to outperform each other and rival franchises. Another powerful motivator is the desire for appreciation. Like in childhood, when praise from respected figures spurs us to excel, adults in the workplace also thrive on recognition.
The Power of Awards
Awards can effectively acknowledge efforts and inspire excellence. Common awards include:
- Rookie of the Year: Best new franchisee.
- Top Growth Awards: For highest sales growth in single and multiple locations.
- Spirit of the Franchise: Exemplifying company values and mission.
- Marketer of the Year: Best marketing strategies.
- Top Trainer of the Year: Best use of training programs.
- Business Development Award: Encouraging new franchisees to join.
Consider using a combination of metrics like sales volume and net promoter scores for awards. Engage franchisees in suggesting new awards and possibly include an invitation to join the franchise advisory council for a year as a form of recognition.
Effective Award Practices
- Transparency: Clearly explain how award winners are chosen based on measurable benchmarks to avoid perceptions of favoritism.
- Peer Nominations: Encourage franchisees to nominate others, emphasizing the legitimacy of the awards.
- Special Awards Night: Host an elegant awards ceremony, possibly with a special presenter, evening wear, and an Academy Awards-style format to enhance the experience.
- Travel Prizes: Offer trips as prizes, combining excursions with educational and training sessions, bringing in special speakers, and involving key vendors to add value.
Conclusion
By implementing these strategies, you can effectively reward and motivate your franchisees, fostering a sense of community and family within your franchise. This connection can transform your franchise from a collection of isolated locations into a cohesive and supportive network.
About Evan Hackel
As author, speaker and entrepreneur, Evan has been instrumental in launching more than 20 businesses and has managed a portfolio of brands with systemwide sales of more than $5 billion. He is the creator of Ingaged Leadership, is author of the book Ingaging Leadership: The Ultimate Edition and is a thought leader in the fields of leadership and success.
Evan is the CEO of Ingage Consulting, Delta Payment Systems, and an advisor to The Learning Network. Reach Evan at ehackel@ingagen.net, 781-820-7609 or visit www.evanhackel.com.
A dynamic, innovative, thoughtful and inspiring leader with 30 years of experience in franchising, distributed networks and cooperatives. Successful history of: (i) turning around a $700 million distressed franchise system into a $2.0 billion revenue business in four years, (ii) reviving and re-energizing a $3.5 billion revenue franchisor and (iii) founding three franchise systems. Experienced corporate board member.
Currently, a consultant to some of the largest franchise systems in North America. A franchise industry leader, widely published, keynote speaker, member of the New England Franchise Association Board, and Co-chair of the International Franchise Associations Knowledge Share Task Force.|A dynamic, innovative, thoughtful and inspiring leader with 30 years of experience in franchising, distributed networks and cooperatives. Successful history of: (i) turning around a $700 million distressed franchise system into a $2.0 billion revenue business in four years, (ii) reviving and re-energizing a $3.5 billion revenue franchisor and (iii) founding three franchise systems. Experienced corporate board member.
Currently, a consultant to some of the largest franchise systems in North America. A franchise industry leader, widely published, keynote speaker, member of the New England Franchise Association Board, and Co-chair of the International Franchise Associations Knowledge Share Task Force.|A dynamic, innovative, thoughtful and inspiring leader with 30 years of experience in franchising, distributed networks and cooperatives. Successful history of: (i) turning around a $700 million distressed franchise system into a $2.0 billion revenue business in four years, (ii) reviving and re-energizing a $3.5 billion revenue franchisor and (iii) founding three franchise systems. Experienced corporate board member.
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