Doing Well and Doing Good

Do you think it’s possible to make money and make a difference? I’d like to think so because it is an important part of how we do things at FRI. I certainly know many franchisees and franchisors we work with feel the same way.

As the year comes to an end I have been thinking about some of the good stuff we have done this year. On reflection, the things I feel most proud of have been more about making a difference than making money.

Some people believe the purpose of business is to make money. Personally I think this is a ridiculous idea. It’s like saying the purpose of life is to eat and defecate. Businesses must make money. That is a fact. The question of how much is enough, and where a business draws the line on what it will and won’t do to make that money is, I believe, one worth reflecting on.

While the franchising sector comes in for criticism in some circles for the bad behaviour of a few, in my 30 years working with hundreds of brands all over the world, I have found most franchisees and franchisors are well meaning people with a desire to help each other and serve their local communities, while of course making a fair and reasonable return for their efforts. This is why I love to work and serve in this sector.

With those thoughts in mind I’d like to share some things we’ve done this year to make a difference. Not to boast (well maybe just a little), but to celebrate and to thank you. Without you we wouldn’t have been able to do any of this. I’ve popped in some metrics as a token for those who like numbers.

65 franchisor executives attended our inaugural Bricks and Clicks Forum to explore the impact of e-commerce on the franchise relationship. It was a fantastic day of sharing.

50 franchisors participated in a PhD research project we supported in the lead up to the Forum to investigate how franchise networks are managing their e-commerce strategies.

22 top USA lawyers and consultants collaborated in a colloquium we facilitated for the Franchise Law Institute on how USA franchise legislation can be improved.

2,401 franchisees from four countries shared their personal data with us as part of our Franchisee Success Study to identify predictors of franchisee performance and satisfaction.

199 charts and data tables were complied in the Australian and International Franchise Excellence Research Reports published from this study.

215 people attended our free Franchise Excellence Research seminars where we released the findings from the Study, including our new Franchisee Wheel of Excellence.

22 articles on franchising excellence were written by the FRI team and published in franchise sector magazines around the world.

80 field consultants participated in our public Field Manager Boot Camps to celebrate the important work these people do.

52 keynote addresses, research presentations and workshops on franchising excellence were delivered to government, franchise sector and professional associations around the world.

109 franchisor executives have been participating in our six month Franchisor Journey to Excellence leadership program.

2,441 of our publications were distributed to franchisees and franchisors around the world to support them in creating profitable partnerships.

19,520 dollars were donated to educational, environmental and preventative health causes.

12 FRI team members set up a home office as part of our transition to a virtual business.

8 FRI team members got married, announced they were having a baby, bought a dog or had puppies.

Finally, 21 of these Healthy Franchise Relationships Tips were sent out and read by you!

And yes we also found the time to do well, growing our business by 17%, while significantly boosting our profitability and maintaining client satisfaction ratings at 97%.

Thank you so much for your interest and support in our work to help franchisors and franchisees create profitable partnerships. We look forward to having some fun and doing more good stuff together with you next year.

Until next time stay safe.

Greg Nathan

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