Today we are continuing our series of articles discussing franchising terms and definitions with the grand opening manual.
The grand opening manual is pretty self explanatory. It’s the manual given to the franchisee for their grand opening, and it includes all of the things they need to do before, during and after launch, in order to have a successful opening of their new franchise business.
If a grand opening manual is well thought and thorough, it can be, for many reasons, a very important document for the franchisee.
For one, it helps to increase revenues during the early stages of the business, when revenues are typically lower and lead generation is most important.
The contents of a typical grand opening manual will typically include a list preferred vendors, staffing agencies, media and advertising avenues to help get the business off the ground. These will usually be establish relationships with the franchise that come with proven results known to help increase the odds of success for the franchisee.
In addition, franchises often enjoy special discounted prices or exclusive access to certain services that would otherwise be unavailable. This list is a valuable asset for the franchisee and another reason why someone might be motivated to buy into a popular and successful franchise model.
The grand opening manual also helps to create confidence with the franchisee in the beginning stages, when they are going through a steep learning curve. It gives them a step by step guide to get them up and running smoothly, and feel comfortable taking on the next new challenge that presents itself.
If you have any questions about franchising a new business, or growing your existing franchise to the next level, give us a call. We offer a free initial consultation.
Click here for a list of all our franchising terms and definitions.