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Top 5 Tips to built strong relationship between Franchisee & Franchisor

Last Updated Date - Sep 01, 2023

Dear traders and investors! It is very important to have a strong relationship between Franchisee & Franchisor, to get the business going.

FranchisorA franchisor is a main person who is dealing with the clients and customers on daily basis. Every day in the stock market there are countless number of problems faced by the customers.

This daily interaction brings out several problems and issues that the clients are facing. These daily problems are communicated to the head office to be resolved, and this helps the company improve and grow.

And at the same time, it is the franchiser duty to communicate any kind of changes or improvement that are implemented in the company operations or they should also notify immediately if there is any updates in the system application.

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    Below we are discussing the 5 tricks for better relationship between Sub Broker & Stock Broker:

    Through Research on Franchisor

    Firstly, to every franchisee, research well about any broking franchise company.

    Visit Franchise Outlet

    The best way to understand any broking firms franchise model is to visit any of the existing franchise outlet and get to know about the company and their practices. They are the best person to give you all the relevant information about that particular broking house.

    Search & check Online

    You can search online on various review sites and blogs about the owner of the company and all the related history. Visit other rating and review sites and have a proper check about their number of complaints on each and every parameter annually and you must look about the company performance in the last decades.

    Speak to Relationship Manager

    Speak to the franchise relationship manager and get to know about the support they can provide. Also, they will also tell you about the initial investment and maximum revenue sharing amount.

    Understand Set-up & other Cost

    Get to know in details about each and every kind of investment that would be required initially to setup your franchise outlet. These investments could be on any marketing material like banners, business cards, etc.

    Or it could be because of purchasing trading terminal, recording machines, broadband facility, electricity bill or telephone bill or the minimum area size of the office. It is important to know all kind of Investments that you have to do from your pocket.

    Investigate about Franchisor Support

    Also investigate about the support you get during the opening of the franchise office and after few months of the business generated. The behavior of the company manager when your business is not up to the mark.

    Ask about the various kinds of activities and events done every year for promotional and branding purpose and if there is any kind of reimbursement possible from the company side.

    Here are the list of top 10 stock broker Franchise who provides great support & assistance on all above mentioned points:

    Clear communication and regular feedback

    Once you become a Franchisee, it is very important to have a regular communication and giving inputs and feedback to each other so that both the parties grow simultaneously and enjoy the mutual benefits.

    It is the responsibility of the franchisor to communicate all kind of marketing materials like newsletters, daily bulletins, weekly report, regional meetings and conventions to the franchisee office on regular basis.

    Also the franchisee should provide everyday feedback like dedicated call lines, feedback forms, etc. And should have direct access to the decision makers.

    Check our list of Stock Market Franchise who connects with their Sub Brokers on regular basis:

    Use the right procedure to achieve Success

    It is very important to go through the proper channel of the system and use the proper tools to increase the business. Below are the given steps:

    • Get the proper training about the trading platform and all kind of back office support.
    • Always follow the company Business ethics and operational manuals provided by the company.
    • Learn more and more about the operational tools.
    • Always attend the training provided by the head office or any kind of updation on trading platform and other customer care information.
    • Have a proper understanding for all your devices and equipments.
    • Have a proper access to the higher authorities and work with the company networks.
    • Always get the updates on new marketing strategies and have the access of proper marketing materials.

    Stick to your Responsibilities

    To build the franchise relationship successful both the parties should take care of their responsibilities. So that, there is a less chance of any kind of breach in the system. Both the parties should abide by the rules.

    The franchisor should:

    • Provide all the necessary marketing materials and information to each and every franchisee.
    • Do regular Audit and site evaluations to check whether the system is working properly or not.
    • Make sure that the customer support and the technology are updated from time to time and are working efficiently and faster.

    Whereas, The franchisee should:

    • Follow all the outlines given by the company and meet the company standard in order to achieve the target.
    • The franchise should always communicate to their franchise managers and give the feedback from time to time and any innovative idea that can help the business grow for both the parties.
    • Send the report on time and have a proper track of transactions and communication done with the clients.

    Check these stock broking franchisee provider who abides all the rules of good broking franchise:

    Always dream for achieving the targets

    Now that everything is in place. It is that time for the franchise owner to handle all the events and manage their employees efficiently in order to achieve the weekly, monthly, quarterly and annual target.

    Use your entrepreneur skills and motivate your employees with target achieving perks and train them from time to time for better and better client interactions, giving the customers better understanding of the product and services in each and every segment of the stock market. Always work as a team.

    Find here all the broking service provider who provides all types of support to its franchisee:

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