For well-established businesses, it becomes essential to find profitable business expansions. Apart from the successful core business, affluent franchisee units withhold the capability of the franchisor to grow multitudes. Hence it becomes imperative that the franchisors get picky while recruiting their franchisees. These franchisees will be the face of their brand, cater to customer service, and work towards the greater good of the mother organization, to summarise, carry the legacy!
Apart from financial stability, a franchisor looks forward to various aspects to ensure that the business will be run in good hands. If you aspire to become one of the most sought franchisees, get through the franchise interview, and shine in the long run, check whether any of the following is flagging you off the good books of the franchisor.
Stay clear of these Nine definitive qualities that Franchisors avoid seeing in Franchisee candidates:
- Understand the policies and terms on paper, but do not relate to the values of the franchise.
When you are getting associated with some franchise, you hold the name, reputation, and vigor of the parent company. Furthermore, it becomes inevitable to not go by the values and principles of the company. Not only it is considered derogatory to the franchise, but it also does not match the outcomes that are expected of you as a business growth model.
2. Resilient to new challenges and learning opportunities.
Technology, new strategies, and methodologies kick in manifolds during the lifetime of a business. You need to buckle up and prepare for unlearning the old methods and grasping the new ones. Being resilient to learning opportunities might cause serious damage to the business.
3. Social situations and business networking are not your cups of tea.
You need to accept the fact that the business’ best sidekick is networking. One cannot imagine what a connection with certain people can fetch under certain given circumstances. You need not be the focal point of a business congregation, however, being a conversationalist doesn’t hurt. It seems a good idea to build a network between fellow franchisees, franchisors, and the employees
4. It’s just the corporate’s job to take initiative.
Being proactive puts you ahead of all the players in the league. Gaining a loyal and profitable customer base is a must for each franchisee. Being active with personal strategies, and marketing initiatives to cross the estimated revenues, definitely puts a spotlight on you and your business skills.
5. Offer disrupted service to the customers.
For any business, the customer is the top priority. If you do not feel connected with the customer, the quality of customer service gets affected.
6. Not a people’s person among the employees.
As important as money is to business, so are the people associated with the business. With the helping hands of your employees to run the show, you can only be the show stopper, if the rest of the show runs smoothly. Taking care of the employees ensures that the customers are satisfied and hence business runs in profit.
7. Demonstrate unwillingness to take the risk.
If you are diving into the franchise business, and unwilling to live on the edge, you might need to give it a second thought. Even a fool-proof business model has possibilities of attracting risks.
8. Driven by only passion and not numbers.
Being financially sound, getting comfortable with numbers, and balancing passion is inclusive of any business. Passion without a data-driven approach to any business incurs probable losses both in the short run as well as long run.
9. Seeking help has always been difficult for you.
Franchises are typically not meant to be a one-person job, it’s a team effort. You need to delegate certain responsibilities, to function efficiently. Seeking people’s best attributes to fit your requirements can be extremely rewarding. Contemplating this and getting past the angst of not seeking help and overburdening yourself with rather dispensible responsibilities can result adversely in the business.
It is a big decision to find the right person, the right organization at both ends- franchisors and franchisees. Understanding one’s capability and making them the assets can move mountains and get the stars. Steer clear of the above-mentioned few qualities that Franchisors avoid seeing in Franchisee candidates and know your true potential as a Franchisee.
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