If you’re thinking of purchasing a franchise, it’s essential to consider the value of joining your national and international franchisee association. Read this article to learn more about the most important associations in today’s franchising world.
Small business success doesn’t happen in a vacuum. If you want to build a successful franchise business, it’s not enough to study the market and offer solid products and services.
According to Franchise Foundation, franchise business account for 5.3% of private sector GDP and more than 8 % of private sector jobs.
You have to learn from the best and the brightest in your field. To do that, you need strong connections among industry leaders. The franchise associations will help you build robust contacts in the franchise industry.
The landscape for franchising has changed dramatically over the past few years, with a number of high-profile cases of fraud resulting in negative publicity and tighter regulations.
So what do you need to know about these associations?
How are they helping franchisors today?
And what can they offer to help your business succeed?
What is a franchisee association?
A franchisee association is a group of franchising experts that meet to discuss common issues related to running their franchise businesses. The role of a franchisee association is a vital one, as it encourages franchisees to cooperate and pool their resources.
Under the franchise law, the association can deal with the issues concerning the franchise, which need further discussions between the franchisors and franchisees.
More than 20,000 franchisees associate with International Franchise Association (IFA), the largest franchisee association globally, representing over 8,000 franchisors.
Many franchisors join franchisee associations to bring about positive change within their franchise systems. States typically regulate franchise associations, and most associations form to address specific issues or concerns.
Types of Franchising associations
1.Franchise Marketing Association
2.Franchise Broker Association
3.International Franchising Association
4.National Franchsie association
5.Brand Specific association like 7 11 franchise owners association
What is the purpose of a franchise association?
The Franchise Association offers a variety of resources, from a financial services program to a marketing and business development summit. It also provides training for franchisors and franchisees to grow a successful business.
The main objective of any franchise association should be restoring ethical business practices in franchising.
These franchising associations also serve as franchise marketing associations. They support franchisors in franchise lead generation.
These national franchise association main functions include:
The Benefits of Joining a Franchise Association
The franchise associations that serve as resources for franchisors and franchisees, the whole community benefits.
Franchise associations can help you make informed business decisions through various resources, such as websites and magazines, seminars, conferences, and other member events.
An franchising association can help you save time and money.
An association is always a source of information and research too.I strongly recommend all franchisors should definitely part of their local franchise association.The advantages to franchisor of joining a franchise association
1. Networking:
Franchise associations allow freelancers to exchange ideas, strategies, and experiences with fellow members. Members can learn from other members and discuss common challenges that they might face. Franchisors will have access to a pool of talent.
By joining an association, you will be able to make connections and find potential suppliers, partners, and other potential business opportunities.
2. Industry balance and ethical business standards
The franchisee association’s principal purposes are to protect and promote the franchisor and franchisee interests and provide a forum for disseminating information among franchisees.
3. Education
The franchise association provides educational opportunities for franchisees, franchisors, sponsors, and employees. These education programs include franchisor and franchisee training programs.Also initiatives to increase franchise sales,franchise lead generation and others.
What an franchisee should expect from the franchise associations
1. Using its power of the purse to get its members to be aware of franchisees’ problems and help them deal with them.
2. Providing support to members who find themselves in a dispute over their franchise agreement.
3. The establishment and enforcement of ethical and professional standards of practice
The establishment of policies, including fairtrade and ethical business practices,advertising and promotional policy,and discipline and standards of conduct.
4. Association financial policies are to
- facilitate the exchange of information between its members
- maintain uniform accounting procedures and internal control systems
- provide an annual audit
- provide legal assistance in the event of franchise dispute.
Tips on How to Choose a Franchise Association
Across the globe, more and more people are becoming interested in franchising to start their businesses. There are many reasons for this trend, but one of the most prominent is that franchisees have access to support and unique benefits that independent entrepreneurs do not.
Choosing the proper franchise association is a big decision, and you want to make sure you pick the one that’s best for you, your goals, and your business. To help with that choice, try following these top tips for choosing a franchisee association.
- Internal transparency of the franchisee association – The association should make all of its financial information available to its members.
- A good track record – The franchise association should be able to demonstrate years of success with its franchisees.
- A framework for regular communication – These associations should be able to communicate regularly to their members with newsletters, webinars, and forums.
The Role of IFA in International franchising
If you’re looking to start a franchise, you might be wondering which franchise associations are most important. They play a vital role in franchising, but which ones are the most well-respected.
The International Franchise Association is the most significant franchising association globally, representing and promoting franchising around the globe. Members include franchisors and franchisees from all over the world.
The International Franchise Association (IFA) is the world’s largest organization dedicated to franchising. IFA represents more than 6,000 franchisees in more than 100 countries and territories.
IFA is committed to helping its members succeed in the global marketplace.
IFA also provides support to legislators and policymakers who are key to franchising success. IFA has a strong relationship with the United States franchising community, working closely with the National Franchise Association (NFA) and the International Franchise Association Foundation (IFAF).
List of Franchise Associations globally
Conclusion
You’re here because you’re thinking about joining or starting the franchise of your business. You’ve considered all the pros and cons of franchising, and you’re on your way to making a big decision.
Maybe you’ve already joined or purchased an existing franchise.Governing the relationship between franchisor and franchisee.
Let me know your experience after joining your local franchise association in the comments below.
Franchise associations are good for both franchisees and franchisors.
- share resources, including research and ideas to help grow their businesses.
- network and interact with other franchisees on the same level who have the same issues and challenges.
- develop resources through group purchasing and purchasing plans that save money and grow the business.
Franchise Association is a topic amongst the most important and should be taken care of while purchasing any franchise.
The Franchise Association is a great resource to help franchisors and franchisees alike grow their businesses.The Franchise Association provides valuable educational materials, networking opportunities and other resources to support franchise growth.
Franchise Association events are a great way to connect with fellow franchisors and franchisees and share ideas.The Franchise Association can provide valuable guidance and advice on how to best manage and operate a franchise.