We spend a lot of time on this blog series talking about what kind of franchise business will be just right for you. After all, that’s what we do. But today, we thought we’d turn the tables a bit. How about a look at what franchise brands (“zors”) look for in a franchisee? When you do decide to get involved in the investigative phase of franchising, you can bet that they’ll be sizing you up to the same degree you’re sizing them up. Keep in mind that franchising is all about finding that perfect fit. For both parties. So we’re here to provide some inside “intel” on what they prefer to see.
We begin this process by assuming that our potential franchisee example is already financially capable, fully vetted and has a decent credit history. These are obviously important to franchisors, but we really want to look at the specific personal attributes of franchisees which are highly sought after.
Do you have a passion for their business? Do you truly believe in the value proposition of their product or service? Franchisors look for zeal—an innate desire to represent them well in a specific territory or market.
Franchisors want their franchisees to display superior skills of organization. Franchises follow stringent guidelines on all of their standard operating procedures. They’ll want to know that the person representing their brand has a keen eye for organizing themselves—and those that work for them.
Do you have a good set of people skills? Franchisors want to know exactly how you’ll interact with customers and you can bet they’ll evaluate this quality upon meeting with you. The art of managing others is also a well sought after talent and a real attention-getter.
Franchisors definitely look into a franchisees previous work career or background. What they’d like to see is a sure and steady progression of responsibilities and achievements. If you have a history of learning and growing, they’ll want to see those qualities replicated when you represent their brand.
Franchisors know that operating one of their well-honed businesses isn’t for everyone. They typically have a healthy pipeline of new franchisee recruits to evaluate and in some cases, there’s even a multi-year waiting list. Keep in mind that they don’t just want as many franchisees as they can possibly get. Good franchisors truly believe in quality over quantity.
In a way, it’s a lot like a job interview. You wouldn’t be in front of the new boss if you weren’t interested in the job. And the new boss wouldn’t have brought you in for an interview if he or she wasn’t interested in you. What it comes down to is exploring whether or not the opportunity is a good fit for both parties. Once a match is made, that’s when another successful franchisee enters the ranks of representing a quality brand in a territory of your very own.
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!