From the franchisee perspective, this means finding a business that has some important features:
- The business has initial and ongoing training and support to a degree that will allow the franchisee to become confident and competent in running the business
- The aspect of the business that the franchisee will be doing (selling, marketing, networking, customer service, managing employees, etc.) will be something he/she enjoys and will enjoy for the length of the franchisee-franchisor relationship
- The business has the potential to provide the income and lifestyle the franchisee desires
- And, on the flip side, the franchisee has both the motivation and skill to make this business successful
If any of these elements are missing, it would be like shoving a square peg into a round hole. It can be done but it won't be pretty.
But, just as the franchise should fit the needs of the potential franchisee, a franchisor has an obligation to all current franchisees and to the system as a whole to be very careful in the selection of new unit owners. The phenomenal success of franchising is partially due to the way franchise systems grow their business - they select franchisees with the ability and willingness to follow the proven system. Without that consistency, the brand would have no value to consumers and without the brand and system, why bother paying royalties to a franchisor?
As someone who has spent many years evaluating potential franchisees, Monty Smith, CFE and vice president of franchise development for Purosystems, Inc., parent company of PuroClean, a franchise headquartered in Tamarac, Florida, understands the importance of digging deep into a franchisee prospect's motivations. "The role of the franchise development team is not just about adding more franchisees to the system. We're dealing with real people who are making life-changing decisions. We need to be as cognizant as possible of their motivations because once the deal is signed; it's not the end but just the beginning of a long-lasting relationship."
Smith cautions prospective franchisees to be aware of how a franchise company presents their business. Are they trying just to sell the prospect or do they spend time really getting to know the franchisee candidate? "As a franchisor," said Smith, "we have to consider the real person and that person's family. What do they want from business ownership and can we help them achieve that goal? Do they understand what we will expect from them if they join our team? Do they have a passion for delivering great customer service and can they follow our system?"
Finding a franchise business that will be a good fit for someone interested in business ownership is often more of a subjective than objective process. Motivations and attitude are as important as skill set and experience. "The more we know about a candidate in the early stages," added Smith, "the better we can set a foundation for mutual success."
If you are looking for a franchise business, your first step is to evaluate yourself and really pin down what you want and need as a business owner. Do you understand the value of following a proven system? Will your spouse support you in your decision? What skills will you bring to this new venture and what are your expectations? The more you know about yourself, the better job you will do choosing a franchise company.
As a final piece of advice, if you want to find a franchise that is a great fit, eliminate any company that doesn't spend time really getting to know you. Finding success as a franchise owner is not about being shoved into an ill-fitting hole but about finding your ideal fit.
Candice_Clem
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