What
are Franchisors Looking For
in a potential
franchisee?
When
you’re evaluating and considering
franchise opportunities, consider this:
franchisors ALSO have a list of attributes
they are looking for in prospective
franchisees.
Not every franchise opportunity will
be looking for the same exact profile,
but there are some key characteristics
that successful franchisees possess.
Give yourself a personal evaluation
from the list to follow:
Do
you eagerly welcome instruction?
Those who are truly successful long
term, are not people too proud to
ask for instructions, advice, and
systems. A franchisor will be interested
in those who WANT to know the steps
to take to be successful, and then
follow them.
Do
you have the right attitude? Franchisors
want their franchise to be operated
by people who possess excellent attitudes.
Are you generally very positive and
focused? Do people enjoy working
with you, and are you results-driven?
When you have a common goal with
others, can you work as a team to
achieve them?
Are
you attracted to Risk? Be sure to
communicate to potential franchisors
that you do not like risk, and that
although you realize a certain amount
of risk is present in any business
venture, you want that risk to be
as small and as manageable as possible.
Franchisors are not looking for people
who are gamblers or enjoy the “high” you
can get from living a life filled
with risky choices.
What
has your life experience taught you?
There are many valuable skills that
are attained through the lessons
we learn in and outside of the business
arena. Some of the important qualities
include: good communication skills,
strong sense of leadership, and at
least one successful business attempt.
Are
you teachable? There are few things
more reassuring to a franchisor,
than someone who asks for advice,
counsel, and help from those already
successful in franchising. Franchisors
are more apt to trust you in your
business knowledge, if you don’t
come across as someone who knows
it all. If you ask for help, and
then apply the advice you are given,
not only will it increase your chance
of being successful, but it will
provide a foundation of trust from
your franchisor.
Are
you equipped with excellent people
skills? To be really successful in
any franchise opportunity, you must
have strong interpersonal skills,
so you can be effective as a leader
and when dealing with your customers.
By using excellent people skills,
you will foster an environment of
equality, loyalty, trust and a high
level of integrity. These skills
are foundational in running a successful
franchise.
Are
you a consistent worker? Owning any
franchise takes a lot of work, and
a consistent amount of focus and
energy to make it a success. Long
hours are part of the package, as
is multitasking. If these are realities
you are not comfortable with, then
franchising may not be the answer
to your search. However-if you are
willing to do whatever needs to be
done to make your business a success,
then you may be exactly what a franchisor
is looking for!
Do
you have the necessary capital? Even
with the best interpersonal skills,
and a desire to learn, you must still
have the finances to handle the potential
risks associated with starting a
new business. Many franchisors will
want to see proof of this before
they invest the time and effort and
trust in your venture.
Are
you like minded? A similar value-system
to the franchisor is important in
your ease of transition into the
culture of the franchisor.
Here’s
one skill most franchisors are
NOT looking for:
What
are your specific Skills and Experience?
Many people believe that specific
skills and experience in the industry
make you a strong candidate. However,
most franchisors realize that having
to un-learn, and then re-learn a
way of doing something takes more
time and energy than someone who
is new to the world of franchising.
