Business franchising has proved to be a successful model to expand vigorously and within a small time period. We now have both product franchise and service franchise, made popular by the franchisors and the franchisee that work for common goals. As any popular brand decides to go for franchise model, the provider or franchisor often conceives the idea of a good franchisee.
Most product and service franchisors favour the qualities and attributes of the franchisee that is hard working and honest. But that is not all. A franchisee that likes and endorses the business model personally is deemed to prove a good one. Unless the franchisee loves the business he is into, the growth opportunities are apparently limited.
After personal endorsements and liking, comes the commitment. The franchisee must be committed to make his business a success story. Sometimes, it happens that franchise owners are too much disinterested and are entirely dependent on franchisor’s support and assistance. Such franchisee makes little progress, as the motivation and drive to excel regardless of assistance and support is missing.
Franchisee must also be straightforward and honest. Attritions between franchisee and franchisor results in acrimonious relations, which is not a good sign for the healthy development of business for both the parties. The two have to have a mutual consensus and work for the benefit of all.
Here is a checklist to help while awarding franchisee the opportunity to represent the brand:
Past record or experience in the same or similar business
Relations with previous partners or employers
Individual financial strength of the one claiming franchisee
Awareness about and inclination towards particular service or product
Affinity for particular brand
Business franchising is one sure shot for success. Those who miss, do not aim for the right spot.