Franchise Conferences
Updated: Dec 17, 2020
A key element of any successful franchise system is open communications between the franchisor and its franchisees. Franchisors often incorporate annual or bi-annual conferences as part of their franchise system as a means of encouraging such communication.
Attendance at conferences by franchisees is typically set out in the terms and conditions of their Franchise Agreement.
Conferences can be an expensive exercise for both the franchisor and franchisees so it is important that it be conducted well.
For franchisors there are the issues of:
Where to hold the conference
In a Covid-19 environment, whether to hold the conference digitally
When it is to be held
Set up costs
Logistics of setting up
Preparation time
Obtaining appropriate speakers
Etc
For franchisees there is:
Time away from the franchised business
Travel costs
Accommodation costs
Etc
Generally, franchisors adopt conferences as a method for:
Encouraging franchisees to get to know other franchisee participants in the network
Knowledge transfer
Strengthening bonds and camaraderie within the network
Reinforcing the strategic direction of the franchise system and brand
Operational matters related to the franchise system
Gathering feedback from franchisees
Introducing new or innovative products or services
Providing training
Assessing competencies
Acknowledging outstanding achievements by particular franchisees through internal awards.
If undertaken well, a conference can help drive sales, uplift franchisee satisfaction, increase franchisee skills, foster greater alignment between the franchisor and franchisees, improve system compliance, and otherwise encourage overall positive outcomes for the network.
For more details contact Greyson Legal | Franchise Lawyers: mail@greysonlegal.com