Do you know that the relationship you have with your licensor has a huge impact on the success of your business? It may not seem likely but licensees who have experienced success in their own business have found reasons to believe that having a strong and solid relationship with their licensor is paramount, as it has contributed greatly to their business’ success.
If you are still looking for ways to improve your relationship, here’s what you can do.
- Find A Company Culture That Is In Line With Your Own
Licensing is a long-term commitment similar to marriage. You see in marriage, before you tie the knot, ideally you should get to know the person on a deeper and more personal level. This means before you say “yes” you already know if the two of you share the same vision of the future, because if you don’t share the same goals, your marriage isn’t going to last. The same principle applies to licensing. If you want a long lasting relationship, find a licensor that shares the same goals and principles you believe in.
- Find a Licensor That Is Willing And Ready To Help Its Licensees
The reason why a lot of people are considering licensing is because they know that their licensor is dedicated to help them in their journey. Unfortunately, not all licensors are that committed to offer help. Before you sign agreements and contracts, make sure the licensor you choose is dedicated to helping you succeed.
It is vital to have mutual trust and respect for each other; these are very important to the success of any licensing system. If you don’t get along with your licensor and vice versa, meeting your goals is unlikely. Both parties should realise that it takes two to tango. Licensees rely on their licensor to build a time-tested business model and to find ways to grow the brand. Meanwhile, licensors depend on their licensees to continually market the brand and expand their network.
- Be Involved In The Licensing Business
Whenever there are conventions, do join them and be involved. During these meetings you can contribute your opinions and you can offer feedback and suggestions to help improve the licensing system. It is important that you develop a proactive attitude rather than being passive. Being active in the industry also helps strengthen your relationship with your licensor since they can see your dedication and interest in improving the system and the business as a whole.
All in all, the success of a licensor and licensee relationship depends on whether you share the same culture, the commitment you have to work together and your willingness to be active in the system. All these efforts are needed so you can enjoy not only a long lasting and meaningful relationship with your licensor, but for the success of your business as well.
If you are currently contemplating about starting a business of your own but you’re not sure exactly where to start, we’d like to share our business with you.
HydroKleen is an amazing business opportunity if you are considering opening a licensing business. HydroKleen is an air conditioning cleaning company based in Australia. Our licensees are growing by the minute, this is because they believe in us, in our business model and in our systems and processes. We are also very transparent about our commitment to offer our expertise and help when need be. We started licensing in July 2010 and since then we’ve introduced HydroKleen to over 14 countries and branded ourselves into over 40 countries all over the world in just a short span of time.