When franchisors meet with potential franchisees, they will be looking for certain personal characteristics to judge whether they would be suitable to run a franchise or not.
It is very important that people wanting to be franchisees have enthusiasm for the company and are confident that they can help to continue its successful expansion. A good understanding of what the franchisor does and how it operates is essential.
Even if the franchisor has not directly asked for a business plan, it is advisable to produce a document outlining how the business would go about raising its profile to attract customers and staff and some of the goals to achieve in the first few months and years of operation.
Although an optimistic outlook is valuable, potential franchisees need to acknowledge that in the early stages it is unlikely that large profits, or in some cases any profit will be made. Franchisors will want to know that their franchisees will not quit at the first signs of poor financial result. Franchisees must also make it clear to the franchise company that they know they are chiefly responsible for the success or failure of their franchise.
Another key characteristic to have is being a good communicator, as a franchisee needs to deal with the franchisor, staff, suppliers and customers, otherwise it will be difficult to be successful. The ability to effectively interact with people and explain things in a clear and straightforward manner will create loyalty, value and trust.
When talking to potential franchisees, franchisors will also be expecting a number of questions to be asked to demonstrate a great willingness to learn and seek help when needed, as opposed to believing you know how to run things with little assistance.
Each franchise company is different and so potential franchisees are advised to enquire about any unique practices and systems at the first meeting if they are not told about them initially. Ideally, they need to show a balance between working on the development of the individual franchise and functioning as part of a team.
Ideas for improvement are welcome as long as franchisees are aware that they need to use the business systems and practices of the franchisor, which have enabled it to expand. They need to accept that decisions made on changes to each franchise are for the benefit of the whole franchise family.
Another quality of good franchisees is the an understanding of the value of their employees. A belief that employees deserve trust, a degree of responsibility and the chance to offer meaningful contributions to the business is very likely to make them more productive.