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The 2022 Franchise Economic Reset

The Importance of Culture & Leadership in Franchise Business

As the world reemerges from this 18-month dystopian pandemic, Silvercrest had the great opportunity to attend two key conferences/trade shows in late September 2021. They are not only the first evidence of a return to normalcy but also a boon to us involved in the franchising community to share insights, learnings, war stories, and hope. With the busines model being based on location-based growth, franchising had been hugely impacted.

However, one of the most powerful speakers at one of these conferences, didn't focus on any of that, but instead the importance of culture and leadership.

And it was a beautiful reset to what is the most important part of leading and running a business, particularly in franchising when the consumer perception can be that those businesses are "chains" and lack a local connection.

However, each franchisee business is typically owned and staffed by people in the local community. The vision and goals may be set by the corporate culture, but the business is ultimately a part of the local neighborhood.

The franchisee plans the local store marketing, does the local media planning, places the local media buys, and leverages the local marketing automation for franchise brands provided by corporate to create ads for their community. But the fact of the matter is that the only way that a local franchisee business owner is able to keep his or her doors open, is from the business generated from those who live in the same town.

And thus, we posit that we collectively change our focus from managing and focusing on the crisis, to being celebrants and stewards of both the culture and people, because ultimately that is really what leadership, business, and community is all about.