GF_Australasia_2021

Mentorship: the invaluable franchising tool that money can’t buy Beyond the financial rewards that a franchisee can obtain, mentorship is one of the biggest benefits of the business model hat does a franchisee look for in a franchisor? If you had to surmise the answer into one word, it would probably be ‘value’. But beyond the financial rewards of buying into a brand is anothermore compelling proposition: that a franchisor, and the franchise network at large, becomes a source of mentorship for personal and professional development as franchisees grow in their roles as business owners and leaders. This opportunity for growth is something money can’t buy, but it takes a proactive franchisor to recognize it as both a benefit they can explicitly offer to franchisees and one they can leverage for the brand. Mentorship starts with the right support The relationship between franchisors and franchisee needs to shift from‘boss andmanagement’ to a partnership. From the outset we reframed our franchisees by renaming themPinq (for Physio Inq) business partners, because they are indeed our partners. This is a big sign of our commitment and a clear acknowledgement that their success is our success and vice versa. For this groupwe have a Pinq business advisor, someone who is the business partners’ single point of call for any issue with marketing, training, set up, support or anything to dowith the day-to-day running of the business. This person is not there to punish them for not following instructions to the letter; they are an assistant to help them succeed. It is important that they afford the psychological safety for the business partners to come forward with any issues so they can deal with the query or refer them to the most valuable person internally that could help if they can't. In addition, the business advisor works with each business partner everymonthwhere the partner sets their own goals, not the goals of the network –we don't want to be punitive with the process. Each partner is unique andwe want them to be the masters of their own domain. They need to own the process of development and strive for achievement that theyvalue. That success and their growth reflects positively on the brand no matter howmuch one partner’s goals differ from another’s. Franchisor as mentor A franchisorwho invests in their ownmentorship and coaching skills can go a long way to adding value across the network. If you’re a goodmentor or coach, you've immediately doubled your value, as coaches can cost up to $3,000 a month. And if you can provide a mentorship infrastructure at the same time as ensuring compliance, then compliance is reframed as awayyou can provide support to them rather than a deficiency on their part or micromanagement on yours. As the franchisor, we understand the model best and all the human interaction elements within it. This means we must effectively W THE AUTHOR Jonathan Moody is the founder and CEO of Physio Inq, an allied health care provider offering a range of physiotherapy, occupational therapy, speech pathology and exercise physiology services both in-clinic and via mobile practitioners physioinq.com.au become part of the mentor group to assist themwith this part of the business. Becoming a business coach andmentor figure embeds that process of setting goals and getting the partner to hold themselves WORDS BY JONATHAN MOODY 60 GLOBAL FRANCHISE | AUSTRALASIA SPECIAL INS IGHT

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