If you have made the decision to franchise your business, one of the first things you are thinking about is: Who do I want as a franchisee?
How do I choose the right person who I know I will be able to work with and who will also be able to make the business a success? Given that this person is going to be the future face of part of your business, it is an important decision.
Where to start
As Mark Siebert says, “Perhaps the single biggest mistake made by novice franchisors is to sell franchises to candidates who are not truly qualified to run them.”
In other words, the best place for you to start is to find someone who is qualified.
Develop a franchisee qualifications document for the type of person you are looking for. Seek individuals who meet the criteria.
Start with the hard skills by making sure the people you select have the aptitude and skills required to execute on the business. Then move to essential business and soft skill sets.
Match is important
Once you have found someone who meets the description, focus on if they are a cultural fit for the franchise. Compatibility is key when it comes to franchising, and building relationships is crucial. Ask yourself this: “would I be okay to see this person every day for the next several years?” If the answer is no, chances are, it’s not the right match.
Don’t rely on social media and advertising to help you find your potential matches. Meet people, use word of mouth, turn to people you know and trust within your network, and of course get to know the potential franchisee!
Foster trust
Knowing your ideal franchisees and finding that person are the first steps. Building trust and knowing you have someone you will want to partner with are the next steps.
Once you have found a potential franchisee, they should be excited about the future. They should want to work to show you they are the right person for the location award. This is a chance to build trust and establish the early layers of a successful partnership.
In many ways, you can think of selecting a franchisee like selecting an employee:
Use interviews, experience and references, and don’t be afraid to listen to your gut if you know someone just isn’t the right one, (despite how they look on paper!).
If you would like some guidance on awarding franchise rights, we’d love to help you out. At Diffactory, we find the right people for the right business system and set up solid business partnerships.
We’d love yours to be the next one that we help reach success: connect with us to arrange an in person or online chat!