One small example of why Franchises have an advantage over startups… FRANdata shows (report below) that finding “Quality” talent/labor is the biggest challenge facing franchisees. Finding good employees has always been one of the biggest problems facing a business.
When investigating franchises, I advise my FranNet clients to look at the hiring process system that the franchisor provides.
Good franchises have hiring processes in place to give their franchisee business owners the best chance to successfully acquire the people they need.
These processes can include:
- Postings to specific industry job boards
- Reviewing applicants
- Skills testing
- Professional training
Having established and proven hiring processes give Franchises an advantage over smaller independent companies but ultimately, it’s up to the owner to create a culture that appeals to employees.
25% of franchisors said that quality of labor is the single most important problem facing franchisees today 22% say cost of labor is their biggest issue. Download the International Franchise Association 2023 Labor Report for more results. Source: LinkedIn