Running a franchise is not always plain sailing. Even with the best franchise models, running a franchise, just like any business, comes with its fair share of ups and downs. From navigating financial challenges to managing staff and maintaining customer satisfaction, franchisees face numerous obstacles that can impact both their business and personal wellbeing. In fact, almost ninety per cent of entrepreneurs say they struggle with at least one mental health issue*.
But despite the inevitable ups and downs of running a franchise, prospective franchisees can mitigate risks and minimise negative impacts on their wellbeing by aligning themselves with a franchisor who supports its network through the good and the bad – whether it be through one-to-one support, workshops, wellbeing activities or even just an ear to listen on the phone.
Here, Andy Knights, CEO of Stagecoach Performing Arts, offers his tips for prospective franchisees seeking an opportunity that enhances both their business and personal wellbeing.
Finding a franchise that performs for you
Signing on the dotted line of your franchise agreement is an exhilarating milestone. However, as your business takes off, you will inevitably encounter both expected and unexpected challenges. The last few years have highlighted how unpredictable the business landscape can be, with various external factors testing our resilience. Beyond these, personal issues such as mental health, illness or family emergencies can also impact your business. In these critical moments, the support of a franchisor can make all the difference – helping franchisees survive and thrive through difficult times.
Here is a closer look at what you should expect from franchisors to ensure they uphold their end of the partnership, prioritising your wellbeing not just during tough times but consistently:
A supportive culture: The heart of every successful franchise network is a culture that truly cares about its members’ wellbeing. Franchisors should cultivate an environment where you feel valued, respected and supported both personally and professionally. This involves keeping communication open, genuinely listening to your concerns and actively seeking your feedback to continually improve the support they provide.
Training and development: Continuous learning is key to individual and collective growth in a franchise system. Franchisors should invest in comprehensive training programmes that boost not only operational skills but also personal development. This includes leadership training, mentorship opportunities and access to industry specific knowledge – all designed to empower you to excel in your role and adapt to changing market demands.
Promoting work-life balance: Running a franchise can be demanding, often blurring the lines between your work and personal life. Your franchisor should actively support and encourage you to maintain a healthy work-life balance. This could mean offering flexible scheduling, encouraging you to take time off for rest and rejuvenation and implementing policies that prioritise your mental and physical wellbeing. Plus, supporting initiatives that boost employee satisfaction and engagement within your team can help create a more positive and enjoyable work environment for everyone in the business.
Emotional and mental health support: Entrepreneurship can be emotionally taxing, especially during tough times. Your franchisor should proactively support your mental health by offering access to counselling services, stress management resources and peer support networks. Creating a safe space
for you to discuss challenges, seek advice and share experiences helps build a strong sense of community and resilience within the franchise network.
Celebrating achievements and milestones: Recognising and celebrating your successes, no matter how small, is crucial for keeping you motivated and engaged. Your franchisor should make a point to highlight your accomplishments with awards, commendations and public shout-outs. This lifts your spirits and strengthens the bond between you and your franchisor, creating a vibrant culture of mutual respect and shared success.
At Stagecoach, we regularly recognise our franchisees for their dedication and achievements. Whether we honour our longest-serving franchisees with 10, 20 or even 30-year awards, celebrate new franchisees who exceed expectations or acknowledge those voted for by their peers for going above and beyond, we ensure our network feels valued at every regional, national and international meeting and conference.
Thriving together
For our annual Stagecoach Global Conference this year, we shifted the focus to the individual. We have an exceptional network of franchisees and we have witnessed firsthand the profound impact Stagecoach has on our students. However, we also recognise that each member of the Stagecoach community is unique, with their own goals, work responsibilities, personal lives and wellbeing. That is why this year’s conference, themed #ThriveWithStagecoach, was dedicated to exploring how we can support each person throughout their Stagecoach journey, keeping these individual goals in mind.
We understand that owning a business can sometimes feel lonely. Whether a franchisee has been part of our network for years or is just starting out, whether they lead a large team of teachers and managers or work with a smaller group, we want them to feel assured that there is always someone available to offer support.
The journey of a franchisee is multifaceted and personal for each individual. But by focusing on the wellbeing of franchisees and fostering a supportive environment, companies like Stagecoach not only improve individual success but also promote the overall prosperity of our network. Ultimately, when each of us flourishes as individuals in the business, we can collectively advance the success of Stagecoach together.
To find out more about franchise opportunities with Stagecoach Performing Arts, visit www.stagecoachfranchise.com
*Founder Reports, Entrepreneur & Business Owner Mental Health Statistics 2024