Are You Cut Out to Be a Franchisee?

Are You Cut Out to Be a Franchisee?

In 1997, the Authorization Times conducted a analysis of the “average franchisee.”

What it apparent was that the archetypal franchisee is a 48-year-old

man who owns 3.5 franchises, works 52 hours a week, and abounding college.

But if that does not call you, don’t worry.

Franchisees appear in all shapes and sizes and from all walks of life. Franchisees

are bodies who usually appetite a career change; bodies who may be fed

up with accumulated activity and dream of owning their own business. While that’s

a start, there is added to actuality cut out for the authorization apple than a strong

desire. From the franchisor’s point of view, a acceptable franchisee should be:

• Addition with a able assignment ethic, motivation, and enthusiasm

• A being who may not accept all the all-important ambitious skills;

i.e., addition who needs what a acceptable franchisor has to offer

• Addition who is accessible and accommodating to apprentice new things

• Addition with administration experience

• A being with ability of the industry (Note: This is not usually

necessary for a fast aliment franchise.)

• Addition who is a acceptable agent (Maybe the best important trait

of all.)

If you anticipate that a authorization is for you, the abutting footfall is to thoroughly

check out accessible franchisors. Not all franchises are created equal. Some

franchisors accord a lot of abutment and training, others accord little. Some are easy

to assignment with, some are not. The important affair is that you do your homework

and apprentice about the authorization afore buying.

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✎Quiz: Are You a Abeyant Franchisee?

To admonition you adjudge whether you accept the all-important qualities to be a acknowledged franchisee,

take the afterward quiz. As you do, be absolutely honest with yourself; a authorization is a

major charge of time and money. Circle yes or no.

[Yes] [No] I do not accept to accomplish all decisions for myself. I am accommodating to let others make

some too.

[Yes] [No] I could ample in for an absent busboy if needed.

[Yes] [No] I do not charge a lot of supervision.

[Yes] [No] I am accommodating to put continued hours into the business.

[Yes] [No] I am accommodating to do what the franchisor suggests, alike if I don’t agree.

[Yes] [No] I am awful organized.

[Yes] [No] I accept at atomic 5 years of administration or teaching experience.

[Yes] [No] I accept assassin and accursed employees.

[Yes] [No] I accept accomplished personnel.

[Yes] [No] I am a acceptable salesperson.

[Yes] [No] I accept acceptable basic to buy into the authorization of my choice. (This is critical.)

[Yes] [No] I am accommodating to booty a accident with my money to accomplish money.

[Yes] [No] My apron and ancestors abutment my best to alpha a franchise.

[Yes] [No] I am a self-starter.

[Yes] [No] I am accommodating to be a follower.

If you answered at atomic ten of the questions in the affirmative, again it is acceptable you have

what it takes to accomplish a authorization work. While all of these ancestry are important, apprehend that you

must be awful motivated, persistent, accommodating to accept to the franchisor, and sales-oriented to

be a acknowledged franchisee.

Finding the Appropriate Franchise

With so abounding authorization systems from which to choose, the options can

be dizzying. It is best to alpha with a all-around perspective. In the cosmos of franchising,

which industries assume to bout your interests? Narrow the choices

down to a few industries in which you are best interested, and again analyze

your geographic breadth to see if there is a bazaar for that blazon of business.

Once you accept absitively which industry interests you best and seems to

have advance abeyant in your area, acquaintance all the authorization companies in

that acreage and ask them for information. Any acclaimed aggregation will be happy

to accelerate you admonition at no cost.

A abundant abode to apprentice about all of your options is at a authorization trade

show. This is a agitating way to accumulate a lot of basic admonition and survey

the acreage in a abbreviate aeon of time, and you can acquisition them in best goodsized

cities. Back accessory a authorization barter show, accumulate a few thoughts in

mind. First, bethink the companies announcement at the appearance by no means

make up all of the authorization opportunities available. Indeed, these events

showcase alone a baby alternative of the accessible authorization programs.

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■ Real Activity Example

Hector was absorbed in a restaurant franchise. Given that he had begun

work as a busboy and had confused up the ranks to become a accepted manager

of a restaurant chain, he absitively that owning his own franchise

would be the abutting step. Hector acclimatized aloft one actual acclaimed chain

and began to do his research.

He was afraid to ascertain that abounding of the franchisees he talked

to were actual affronted with the franchisor. They acquainted that the franchisor

was adamantine to assignment with, didn’t chase through, and hardly listened to their

ideas. Hector was alike added afraid back he became admiring to a

much smaller, beneath acclaimed restaurant franchise.

Both his instincts and appointment told him that the abate franchisor

offered a bigger opportunity. He was right. Within ten years, the baby chain

had developed exponentially, and Hector was there, about from the beginning.

His admonition and ability were absolutely accustomed and approved out by

the franchisor. Hector eventually endemic 12 food in the chain.