There’s endless conjecture over what makes a successful franchisee. Is it an intuitive thing? A genetic predisposition? A skill learned in business school? Or none of the above?
Entrepreneur recently outlined the eight attributes they feel are consistent in all successful franchisees. It’s a not scientific guide, but it’s proof that there are over-riding abilities that turn up in many successful entpreneurs. If you were building a successful franchisee as if it were a robot, you might include the following abilities:
- Motivated by results
- Big thinker
- Chief cheerleader
- Optimist
- People person
- Seatbelt enthusiast
- Resilient
- Cool and collected
If you were to loop all of those attributes together, you’d say a successful franchisee is a person who can work well with others, remain postive and encouraging, especially when the chips are down. You’ll need to find the ideal system for your expernience and personal demands, but all things considered these 8 attributes will take you far in franchsising, and in life.
A week ago, Slate published a really intersting article on franchisee’s who go rogue and institute fascinating changes to franchise systems. I was unaware over the extent of the success of one ‘rogue’ franchisee and a fascinating innovation he has instituted.
I was fascinated to read the story of Don Spina in Slate recently. Spina set-up Swankclub Limited, which involved running Quizno’s, Johnny Rockets and Jamba Juice in the Bahamas. Spina quickly realized that Jamba Juice would a criticial struggle to survive in the Bahamas. This, after all, was a franchise launched in California, where consumers have a lot of disposable income. In the Bahamas, though, a lot of Spina’s potential customers were visiting families on vacation not looking for a healthy alternative to soft drinks or alcoholic beverages.
So what did Spina decide? He opted to push through an entire menu overhault:
Cleaving to the brand’s image of health and wholesomeness, he suggested for breakfast whole-wheat English muffins topped with egg whites, low-fat cheese, and ham or turkey. Lunch possibilities included a grilled chicken sandwich on ciabatta bread and a panoply of Caesar and vegetarian salads.
Despite an initial relucatance, Jamba Juice were loathe to close a store and decided to sign off on Spina’s suggestions. “We sold a truckload of turkey for breakfast,” he told Slate.
Interestlingly, Spina’s Jamba Juice in the Bahamas was forced to close because of the recession, but Jamba Juice took his lead and decided to introduce more food onto their menus. It’s not a totally sad story, though. Spina’s Johnny Rockets has enjoyed incredible success. Sometimes it pays off for a franchisee to go rogue. Other times though, customers know exactly what they want.
There’s so many interesting things in happening in the health care franchise sector these days. For people considering opportunities in this thriving sector, we’d like to direct your attention to this interesting interview with Kathleen Gilmartin, CEO of Interim Healthcare.
“Insurance companies have recognized that being able to deliver quality care at home is cost-effective and it’s also quality,” she says in an interview with Bloomberg. “Everyone wants to be allowed to allow patients to be at home in their own setting and get the care that they need.”
Gilmartin also has some interesting thoughts about the future of the industry.
“Healtcare is expanding geometrically. The biggest challenge in healthcare that I see is finding the right people: having people who have a passion for helping patients but also who are willing to learn and upgrande their own skills. We provide those opportunities for nurses to learn, to balance their career with their homelife and thie education.”
And though there is a bit of uncertainty in the industry because of the decision looming over Obamacare in the Supreme Court, this is still a really exciting time to be entering the industry. If you’re one of those people that Gilmartin describes - someone with passion but also a desire to imptove your own skills. this is a great franchise opportunity.
Memorial Day is around the corner and it’s got us thinking about the success military veterans in franchising.
When Michelle Obama helped launch Operation Enduring Opportunity last November - an initiative that aimed to hire and recruit 75,000 military veterans into the franchise industry - it was the clearest demonstration to date that veterans and franchising are an ideal pair.
“With its rapid training opportunities, defined structure and systems, and need for operational excellence, franchising provides an ideal structure to enable returning veterans to become leaders of and productive participants in the U.S. economy,” IFA president Stephen A Caldeira had said at the time.
At the same time, we’ve seen movements like Sprigster - a crowdfunding website aimed at helping people achieve franchise funding in alternative ways. Mark Mohler, Sprigster CEO, explained just why franchises look to veterans for possible partnerships.
“They’re very entrepreneurial and have a high-risk tolerance, but having a structure helps,” he said. “They follow the rules. Veterans have been shown to have the kind of skills to stay the course.”
With the passing of the JOBS Act last month, it seems that there is even greater possibility for the likes of Sprigster to get entrepreneurs and veterans in particular into franchising. For veterans considering franchising, franchises like ValPak and Jan-Pro have an awful lot to offer.
It’s a long time since the Great Recession of 2008 set in, but finally we’re seeing signs the US economy is beginning to thaw. This renaissance is being led by the franchise sector. A new index from the International Franchise Association and Boefly shows that franchise lending has increased steadily over the last year. In fact, it’s up 20% since December 2010.
But the recession has changed consumes’ shopping attitudes. In times of austerity, people don’t buy new products, they repair the things they already have. If you look at the renaissance that professions like cobblers are enjoying at present, it becomes clear that consumers are trying to make their goods last longer.
FAST-FIX Jewelry And Watch Repairs® is another business that’s reaping the rewards of changing consumer sentiments. Launched nearly 30 years ago as a jewelry and watch repair business, the franchise has evolved in recent years to offer a range of essential services, including custom jewelry engraving, eyeglass repair and now phone repair. On top of that, FAST-FIX franchise owners can be assured of recurring revenue, as they can choose from two types of stores. This is a franchise opportunity for people on all budgets.
One interesting aspect of the FAST-FIX phenomenon is that its franchise owners are not jewellers or watchmakers. They come from all walks of life: they’re former teachers, corporate executives and restaurateurs. In this brave new economic world that we live in now, it seems that FAST-FIX has crafted an versatile economic model that guide it through whatever twists and turns lie ahead for the global economy.
As FAST-FIX themselves say: “As the world’s largest and most trusted jewelry and watch repair franchise, FAST-FIX has over 160 locations worldwide to serve your jewelry repair needs.”
Follow this link to learn more about this really interesting franchise opportunity.
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