By Aaron Smith, KX Pilates founder Many in the franchising industry believe that you shouldn’t recruit franchisees with zero business experience. Here’s why I think business experience matters less than you think. There’s a standard list in franchising that outlines what traits potential franchisees should have and ‘past business experience’ or ‘business acumen’ is often Read More…
The top five qualities a franchisor looks for in a franchisee
Thu 16 October 2014 - 1:15 pmEditor's Choice | Franchising | Opinion | Small Business
Franchisors work hard to develop their business model into a format that can be easily replicated. To build an exceptional franchise brand, franchisors are looking for exceptional people to join their team. Here are the top five qualities franchisors look for when they meet with potential franchisees.
To be successful in the franchise industry, a positive and focused attitude is a ‘must have’. Franchisors look for results-driven, diligent and positive people to become franchisees. They must also be engaging and approachable to ensure a positive in-store experience for their customers. Franchisees are the face of a business and as such need to live the values of the brand.
2. Work ethic
As with any small business, starting out is a challenging time. Getting a business up and running requires commitment and perseverance and many successful franchisees will recall the hard work they put in to establish their franchise, even as they later reap the rewards. There will always be rewarding times and challenging times, so it is important that franchisees are prepared to knuckle down in times that require hard work. Being part of a franchise means that your franchisor will support you in many ways, but nothing beats a business owner taking the bull by the horns.
You need to be a good listener to be a successful franchisee. With customers it is important to ask questions and listen to the answers carefully to find out what people are looking for and provide them with the best solution. People are your most important asset and it is crucial to listen to staff to ensure you offer support and maximise retention.
4. Common values
Franchisors will have specific views on how and why their particular business model is successful. It is important that potential franchise partners hold the same values and that both parties have an open and honest dialogue with each other.
5. Strong leadership skills
Joining a franchise doesn’t necessarily mean you need skills in that area, however you will need to have leadership skills to succeed. The skills franchisors tend to look for include past experience in sales and management. They are also looking for strong leaders who recognise that no one person can master everything perfectly and delegating to experts in other fields is sometimes necessary.
If you are considering owning a franchise business take a look at the Bedshed franchise calculator, which is designed to help you compare the various franchise options. The franchise calculator examines a range of data to provide an initial profit estimate and long term estimated profit projection for each franchise you are considering.
About the author:
Gavin Culmsee is chief operating officer of Bedshed.
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