During today’s edition of FranNet’s blog, we’re going to take a deeper look into why the validation process is such an effective recruiting tool for new franchisees. But we’ll go ahead and give you the answer right up front: it has everything to do with belonging.
The franchise investigative process has many measured steps, all of which you’ll discover when you partner with a qualified FranNet representative. Important checkpoints in the process include the assessment of your personal situation, conversations about franchise concepts, financials and—not to be forgotten down the road—validation. Validation is where existing franchisees in a system vouch for the viability of the concept to prospective owners. It can come in the form of phone interviews or even in-person visits.
But what makes it so effective? Let’s discuss.
Imagine, after much contemplation, that you are finally interested in taking the entrepreneurial path in life. It’s only natural to question your thought process, in addition to the many factors you’ll encounter during the franchise investigative process. But the ultimate goal is to become your own boss. And validation helps candidates get across the finish line.
As a prospective franchisee involved in the validation step, you’ll be given unfettered access to franchisees already thriving in their own business venture. There is typically no script. You get to ask questions about what it’s like to be the owner of XYZ franchise. And the current owners will give you the straight answers you crave. It’s not all rainbows and unicorns, and you’re likely to hear about challenges too. But those challenges are typically followed up with expert, inside advice on how to overcome them.
What constitutes a typical validation session? Here are some questions some potential franchisees might ask: How long did it take you to break even financially in this franchise system? What is your biggest obstacle to success? How much training and support can I truly expect to receive from the franchisor? Tell me how the cooperative marketing works for this brand. You get the picture.
But let’s get to why these answers matter so much to a prospective franchisee. It’s because he or she is getting the real story from someone on the other side of the entrepreneurial divide. Someone who’s already made it into an established role as a franchise owner. And you know what? In all likelihood, that protective franchisee is going to want to emulate that success. Because he or she has a desire to belong to the group. It comes down to simple human nature.
In-person validation sessions can be extremely effective in closing the deal. That’s why so many franchise brands try to schedule onsite visits during Discovery Day. Think about it. As a prospective franchisee, you’re close to a decision at this point. You might just need that little bit of reassurance that you’re making the right move. Seeing a living, breathing operation that’s thriving is going to evoke feelings of confidence. That you can do this, too. That’s also human nature.
Validation is a wonderful step in the franchise investigative process. You may even think of it as an audition. Because while you’re evaluating the existing franchisee, they’re also evaluating you. Once again, it comes back to the notion of belonging. Group Dynamics 101.
If you’d like to one day experience the lasting effect of validation, we at FranNet invite you to take the first few steps in the investigative process by arranging a no-cost, no obligation visit with one of our qualified representatives.
Let’s chat! There’s a local FranNet consultant right in your market who knows that market inside and out – knows the personality of the market – knows the competitive landscape. FranNet has a great track record of assisting individuals on their path to entrepreneurship, and one of our franchise experts would love to provide you with guidance free of charge. Sound like something you might be interested in? Get started here and find your local consultant right now!