What makes a successful franchisee?
Every franchise is different so it makes sense that each franchisor is looking for something different in a franchisee.
There are however certain traits and characteristics that successful franchisees have including:
Being 100% committed to making the franchise a success. If you lose interest in the franchise then it will be reflected in your business success. The most successful franchisees are those who give everything to the business. You therefore need to be motivated with a strong drive to achieve success.
Franchising is not for the lazy! If you want to invest your money in a business and then step back and watch others work in it for you, then you should avoid franchising. You need to be hands-on initially and be involved in all aspects of running the business no matter how menial the task is. Once you are in a position to open another franchise unit, if your franchisor allows it, then you may be able to take a more management role in the business; though you still need to be involved in overseeing the business as a whole.
You are going to be working in the business day in day out and so you need to have confidence and enthusiasm for the product or service you are selling. The best sales people are those who truly believe in what they are selling as it comes across naturally to others. Before you buy a franchise you need to make sure that it is one you believe in and would enjoy working in. Even if you believe that buying a McDonalds franchise could make you the most money, if you don’t like the idea of working in a fast food restaurant then it isn’t right for you.
Fast learning and the ability to transfer what you have learnt to others is sought after in a franchisee. The franchisor will want someone who can pick up quickly how things are done and who is able to train their staff adequately in the business operations.
A business can only become a franchise if it has systems and procedures that can be replicated. A successful franchisee is therefore someone who can follow these systems and operate the business the way the franchisor expects it to be run. Franchisors therefore tend to look for those who can follow rules and are not tempted to do their own thing!
As funny as it may sound, experience in an industry is not always beneficial to a franchisor. The reason being if you already have experience then it may be difficult to teach you how to operate their franchise the way they want as you may have conflicting ideas about how the franchise should be run. Some franchisors will ask for experience, some will not but will focus more on an interest in the industry. For the same reason some franchisors look for those who do not have all the administrative and entrepreneurial skills necessary to start a business as they want to teach them how to do it their way. Franchisors believe that management skills, attention to customer service and sales skills are the most important qualifications when recruiting franchisees.