The continued success of a company hinges on the competency of its leaders. Most companies are headed by a Chief Executive Officer (CEO) and a President. In celebration of Presidents’ Day, let us explore the roles and responsibilities of a franchise company’s president.
The Role of a Franchise Company’s President
The President is the head of an organization and presides over its operations. In an organization like DetailXPerts where a CEO exist, the company’s president is the second in command. In some organizations, the responsibilities of each may closely resemble each other. However, there is one main difference between the two. The CEO is responsible for charting the long term vision and future of the company, while the President makes that vision a reality. How? By doing the necessary day-to-day management, decision making, and strategy planning.
The detailed role of a company’s president may vary from organization to organization. Yet, at its core, the job title carries with it the function and responsibilities of a company manager. For a franchise company’s president, this means that the president bears a lot of responsibility, authority, accountability, and work-related pressure due to the hands-on nature of work.
Responsibilities of a Franchise Company’s President
Implementing the Company’s Mission and Vision
As stated earlier, a company’s President is in charge of implementing its mission and vision. This is very important for a franchise since every franchisee would need to be informed and then follow the company direction.
Lead the rest of the executive team. The vice president and various managers all report to the president.
Regularly meet with the executive team to discuss the franchisees’ needs, generate ideas to propel the company forward, and check on the status of ongoing initiatives. One of DetailXPerts’ advocacies is helping individuals become entrepreneurs. We do this by promoting low capital and friction-less entry for franchisees. The long term goal is to have more than 1,100 franchises which support 30,000 jobs.
One of the most important responsibilities of a company’s president is to spearhead the development of strategic plans to grow the company and make the CEO’s vision a reality. For a franchise, this includes, but is not limited to, studying additional territories and models for franchising. For example, developing master franchises in other countries, spreading the company’s reach and market to an international level.
Represent the Company
Attend and represent the franchise company on social events and activities, organized by the local community, local or state government, and even at national level events. For example, our company’s president, together with the CEO, attended the 2018 Michigan 50 Companies to Watch gala, an awards event that honors local companies that are making a positive impact.
Also, this includes participation in interviews and other media marketing opportunities to further propagate the franchise brand. The president should embody the ideals of the franchise.
Evaluate the state of the company both financially and operationally
The president should have a macro view (maybe even a micro view, if needed) of everything that affects the company and the business.
A franchise company president’s roles and responsibilities are diverse and encompass the entire organization. Suffice to say, the president also carries a lot of burdens. From the smallest, single franchise owner to the multi-franchise companies, they all rely on the president to blaze a path to success for everyone.
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