Every franchisor aspires to run his/her franchise business successfully. But success of a franchise largely depends on the potential and intelligence of the franchisee. A word of caution. A smart franchisee might not bring equally smarter business solutio
Franchising is a safer way to develop business. It is the duty of the franchisor as well as the franchisee to handle their franchise business successfully. This is because, on one hand, the franchisor has to be highly cautious in recruiting the right franchisee and on the other hand, it is the potential franchisee that takes up the responsibility of shaping the franchise business accordingly.
No doubt potential and passionate franchisees are the driving forces behind the successful running of the franchise but the franchisor should be careful in selecting a franchisee. In other words, the franchisees should not be clever or smarter than the franchisor. Franchise experts also share this opinion. As said by Rod Young, Executive Director, dc strategy, “Do not ever appoint a franchisee who is more intelligent and qualified than you.” Some of the franchisors as well as the franchisees must be surprised and curious to know about the base of this statement. So let’s have a look at some of the repercussions of having brighter and more intelligent franchisees:
We cannot say that it is a universally accepted practice. There are many franchisors who want to add brighter and smarter franchisees to their network. As, Joseph Cherain, CEO GFA India and MD GFA Global Services said, “The wealth of any franchise system is having franchisees who can contribute to the over all development of the business. Having more knowledgeable partners lead to new and unique concepts. This helps in succeeding.” He further said, “The franchisors will succeed only when the franchisees are successful.”
To conclude it can be said that every franchisor may have a different criterion of selecting franchisees but at the end they all want their business to expand profitably. So selecting the right franchisees will make all the difference in making a franchise run successfully.