24 Nov 2015, Hotel Pullman, Aerocity, New Delhi.
Attend First global conference & master class on franchising.
GROW YOUR BRAND FRANCHISE >> REGISTER NOW!
Aspiring franchisees search for the best business opportunities and in the same way the franchisors also look for franchisees that have certain required traits for the business. This is a must read article for those who want to present themselves as the ideal franchisees
All franchisors may not require the same qualities in a franchisee but there are a number of attributes common to successful franchisees. Franchising is about following an already proven system to repeat the success of the original unit that the franchise is based on. Capability and enthusiasm to follow directions is a key marker of someone who would make a good franchisee. Besides the ability to follow a system, there are a number of other personality traits which mark a successful franchisee.
Affiliation with people: A franchisee has to deal with customers as well as employees in any franchise business-so good communication skills always top of the list. You as a franchisee need to generate loyalty and trust by using this skill. Successful franchisees are inclined to be strong at networking and meeting new people. Moreover in the beginning the franchisee has to interact efficiently with the staff and the parent company to develop a support system. Having friends and contacts plays an important part in franchising.
Good supervisor, not a dictator: You may become a boss as a franchisee but should remember not to rule like a tyrant. Supervising while participating in the duties helps to execute them properly and also makes you develop a rapport with the staff.
A motivating force: Your employees are not concerned to take your business to new heights, it is you who has to stimulate and make them care about the venture. Motivating oneself and the employees is a key trait of any successful franchisee. A franchisee can't sit back and wait for the business to come to him; he has to make it happen.
Result oriented but patient: Good franchisees understand that activity may not always produce the desired results. For accomplishing goals various milestones and benchmarks need to be set to gauge yours as well as the staff’s efficiency and competence. If an activity is not giving expected results than willingness to change the course of action is a criterion of an efficient franchisee. But on the other hand giving no time to see the result reflects lack of patience which the franchisor does not appreciate. Therefore showing patience at trying times may help you as a franchisee.
Aversion to risks: Mitigating the risks in any activity is considered intelligent behaviour. Franchisors look for people who have a good track record, without failures due to their carelessness. Franchisees should take advantage of all the training offered and learn as much as they can from the franchisor staff and other franchisees.
A big visionary: Starting out any business venture requires the ability to see dreams and to make them come true. A successful franchisee has eye on the reward, which is a long-term result he desires to accomplish through business ownership. Imagining your future lifestyle and income can act as a force to make the business stronger. If you can keep your eye on the big picture while doing the mundane but necessary tasks, you have a valuable characteristic of a successful franchisee.
Affinity for efforts: To attain success without putting a lot of hard work and diligence is not viable. You will need to put in long hours and handle multiple tasks without getting exhausted as you are doing everything for YOUR business.
If you are an individual with hopes to be an entrepreneur and have these qualities than there should be no looking back for you. Go on and achieve your dreams!!
The franchise system is a mechanism developed by the franchisor and executed with the help of channel partners called franchisees. Thus coordination1
International brands are keen to expand their presence in India. While many new brands are seeking Master Franchisees for establishing the brand in0
Submit your email address to receive the latest updates on news & host of opportunities.
Mahindra First Choice Services (MFCS) opened its first Franchisee Owned Franchisee Operated (FOFO) workshop in Bhopal Madhya Pradesh.
Leveraging on new and old technology in today's franchise business, digitization has taken the
World Franchise Congress 2015 concludes on a high note
How To Market Your Brand Successfully
Marketing and sales are