As you may already know, the Island Fin Poke business model involves growing our brand through the establishment of new franchises all across America. We now have a plethora of learning how to run a fast-casual Hawaiian restaurant in over a dozen states through franchise agreements.
None of this would be possible if but not for one crucial component: franchisor/franchisee relationships. Island Fin Poke is the franchisor, a Hawaiian-themed restaurant with a proven model for serving patrons, whereas our individual site owners are the franchisees who replicate our winning system in their communities.
For such a relationship to work, one that’s quite different from the employer/employee version, both sides have to have a solid foundation of trust and understanding. The enterprise must be mutually beneficial and both sides have to abide by certain terms. If the relationship disintegrates, the business endeavor will fail.
What if you’re new to all this and want to find a franchisor for a solid business partnership? How do you identify that perfect match?
Find Right Match for an Outstanding Franchising Relationship
Choose a franchisor with a strong reputation.
How do you assess reputation? There are several ways, but we recommend consulting their consumer feedback. You can do this fast by researching a company’s review scores on platforms like Google Reviews or Yelp. This won’t tell you everything, but there’s a significant chance that if customers don’t want to go there, you won’t enjoy partnering with them either.
Make sure they show plenty of growth potential.
Like we said, it’s important for our business to grow and spread sustainably. If a business doesn’t appear to be growing (in its finances, logistics, and market share), you’re better off pursuing other options.
What are the alternatives like?
Several industries make use of franchise ownership, which accounts for a sizable part of the economy. Therefore, there are plenty of options, especially in fields like food service, cleaning, health clubs, and gas stations. One reason to choose Island Fin Poke over other competitors is the comparably lower startup costs. While restaurants like McDonald’s or Subway are reputable, they also cost at least twice as much to begin a franchise.
Does the franchisor offer extensive training and support?
This is essential for the development of a new franchise. Franchisees should be able to depend on plenty of training, material support, ongoing guidance, and other useful resources. Island Fin Poke offers all of that, plus plenty of help marketing assistance for all our franchisees.
So, to return to the original premise, the reason franchisor/franchisee relationships matter so much, it’s because they underpin any potential for business harmony, let alone profitability. In fact, this is true of any cooperative business arrangement. As soon as the relationship erodes, then profits, performance metrics, and other positive factors inevitably decline.
Want to know more about franchising opportunities with Island Fin Poke?
Then we can’t wait to discuss everything, one-on-one with you. If you’re learning how to run a fast-casual Hawaiian restaurant, please contact Island Fin Poke anytime.