Who Fits The Franchisee Profile?
You will sooner than later in your franchise development process ask yourself, what type of person will I award my franchises to?
Anyone with a check, Right?
Not exactly, you want to very selective in this process. The individual franchisees are going to be representing your brand. They are paying you to operate your business.
A solid benchmark for looking for these individuals is that you should want the same type of person that you would hire to manage one of your own locations. Individual franchise owners must have leadership, sales, and people skills along with physical stamina and related job experience.
However, unlike managers of a business, franchisees are going to be putting up capital. They are investing in the franchise and have a stake in the game. For most, this ensures a dedication to the operations.
When you are speaking to candidates and are considering awarding franchises you cannot be shy about asking detailed and personal questions including seeing their school transcripts.
The best students ideally to look for are A students. A students https://www.acheterviagrafr24.com/acheter-viagra-sans-ordonnance/ often work for companies managed by B students and owned by C students. You do not want your franchisees to be the type of people that “wing it” and you will want to avoid the entrepreneurial types that will want to put their own stamp on everything.
Many A students will have worked in structured environments for long periods of time. They are comfortable following rules and regulations.
A good franchise prospect will have held jobs for at least three or four years and will have received several promotions. Being married for a long time helps as well. These individuals that have withstood the ups and downs of the business world and personal relationships have a good chance operating a strong franchise.
Check their driving records – do they speed, break laws, or have substance issues? A credit check will go a long way too, individuals that are late or miss payments will probably have poor tendencies in paying their royalties on time.
People active outside of work and are involved in community, church, and volunteer projects make better candidates. They are more likely to be the type of go getters that will represent your brand well.
One rule that you should always seriously consider is that you will want to stay away from absentee owners. This type of owner defeats the purpose of franchising. It adds an extra layer of expense to the operation while diminishing the drive and motivation of a true owner-operator.
Multi-unit and subfranchisors
Multi-unit and subfranchise candidates are a little different than the individual franchise owners, these prospects must be affluent and highly experienced in business. Subfranchisors should also be exceptional sales people.
Your concept and operating system might be the best thing on the road of business, but it is only as good as those individuals that actually drive it.