One of the greatest benefits of being a franchise owner is the support you receive from the franchisor: business guidelines and performance metrics, marketing, brand recognition – and a proven model for success limited only by your own effort.

But perhaps the most valuable support you can get is from your peers – the other owners who are in the trenches every day, working just like you are on growing their business and providing great service. In our minds, joining your Franchise Owners Association (FOA) is one of the best things you can do to grow your business and improve its value. Owners have told us it brings another type of education. There’s the “corporate” way, and then there's the “on the street” perspective only other owners can teach you. We frequently hear from owners that they wish they had joined the FOA sooner so they wouldn't have made the beginner mistakes. Plus, there are informal mentor connections that can help fast-forward success.

Franchisee associations are membership organizations for franchisees, much like a chamber of commerce exists to support independent businesses. Like trade associations, they are specialized – everyone in the room is in the same business as you. FOAs provide education and recognition for best practices and franchisee success, which is valuable in drawing attention to the brand and owners who are leading the pack.

A franchisee association provides a platform for members to speak with one voice, providing efficient and effective communication and advocacy with the franchisor. An FOA allows members to share information and best practices with each other, giving newer franchisees direct access to more experienced owners on a regular basis. It’s good for owner morale - you’re not the first one to struggle with this issue or ask this question – but it’s also good for business.

FOAs often bring in speakers and resources to help owners run their businesses more efficiently and profitably. Often, FOA members can access a network of trusted suppliers, allowing you to leverage your buying power and negotiate better pricing on the products and services you need to run your business. You get the benefit of saving money and your peers’ recommendations and experience with vendors and products.

FOAs are not only communicating with the franchisor; they often provide support in reaching out to legislators who make policies that affect your business. The American Association of Franchisees and Dealers says, “franchisors have the resources to influence policy, but franchisees have the numbers.” Chances are there’s a franchise in every Congressional district in the country, and the owners are the ones creating jobs and paying taxes.

The FOA speaks with one voice to the franchisor, but allows its members to speak with hundreds, even thousands, of voices to policymakers. If you’re concerned about local, state, or federal legislation that will affect labor laws, wages, taxation, and other issues, you’ll be able to stay abreast of what’s happening and use your strength in numbers to make a difference.

Down the road, when you get ready to sell your business, you’ll have the benefit of having listened to other owners’ exit strategies and plans for getting the most value from a sale. At Franchise Clearly, we’re connecting sellers with qualified buyers and we know that buyers are looking for well-run companies that can meet their financial goals. Your membership in your local FOA will pay off when it’s time to consider retirement or cashing in on your years of hard work.