3 Character Traits that Will Make You a Franchisee Before You Know It
Buying a franchise is one of the most exciting times in a franchisee’s life. Though franchisees often buy more than one franchise, nothing compares to the moment that they buy a franchise for the very first time and become official business owners.
Franchisees need to adhere to strict guidelines if their businesses are going to succeed. Aside from the basic guidelines of running a franchise and the step-by-step business plan, however, there is one more factor that can determine if a business will succeed or crash and burn: one’s character traits. Below are the top three character traits that any successful franchisee should possess.
Don’t try to re-invent the wheel. Do what has been proven to work. Franchises and franchisers have been around for decades because they instruct their franchisees to stick to a proven method. The strategy that is already in place is what will help your franchise to succeed.
Good franchisees know this. They understand that if they want their stores to work, they will go by the book. Following training manuals, business rules, and taking advice from those who have been in the franchise business for an extended amount of time is a sure path to success.
When it comes to buying a franchise either alone or with family franchise partners, you have to know how to lead. This doesn’t mean that you are all work and no play when you hit the job, however. It simply means that you have to know when to crack down on your employees and when to loosen up.
Bosses don’t have to be strict 100% of the time. Studies show that work places thrive more when employees are comfortable around their supervisors and don’t feel intimidated or stressed when near them. To have a healthy work environment, show your employees that you’re human and can relate to them on some level, whether you’re laughing at a joke or expressing excitement over your kid winning his soccer game. Just remember that if you join in the revelry, to keep the jokes clean and keep the environment professional.
After you’ve taken a few minutes to chop it up with your employees, however, inform them that you’re going to get out of their way so that they can get back to work. They’ll get the hint that playtime is over, and money isn’t going to earn itself.
Many franchisers would agree that franchising to someone with management skills is both a plus as well as a necessity. No one wants to lease a business to or spend his time training someone who only says he can do the job well; he is going to be required to prove it.
Franchisers look at factors such as credit score and past work history to determine whether or not you are in any position to buy a franchise. Simply having experience washing dishes or flipping burgers won’t cut it. Franchisers want someone who has a proven track record of getting sales and retaining customers. Not only that, they would like for potential franchisees to be personable since franchising is a customer service field.