Being a good franchisee takes about the same qualities as being a
good business owner of any type. The difference between a completely
independent owner and a franchisee is very small and only comes into
play when dealing with the franchisor’s rules and ability to drive the
direction of your business based on their vision rather than your own.
Ability to be Consistent – Franchises come with
standard operating procedures and processes. If you can consistently
follow them, you will be successful. You’ll need to follow them and
ensure your employees do the same.
Flexibility – When you own any type of business,
you must be ready and willing to jump through all sorts of hopes even
when you are tired. One example is that you’ll likely have an alarm on
your store if it’s a bricks-and-mortar franchise that might go off
because the wind blows wrong. You’ll have to get up at 3 am and go turn
it off and talk to the police about it.
Good Communication skills – Not only will you need
to be able to talk to your franchisor, but also your staff, and your
customers. Not to mention the myriad of vendors that will service your
location. But remember, communication is a two-way street and you’ve
been given two ears and one mouth for a reason.
Have Passion for the Industry – If you don’t like
fast food, do not buy a fast food franchise. The only exception is if
you have the type of funds to be an absentee owner and you’ll be hiring
managers to oversee everything. But even then, why would you invest in
things that don’t bring you joy?
Honesty and Ethics – It’s imperative that you are
very honest and have the utmost ethical center to be a franchisee.
You’re going to have to be on your honor to follow a lot of the rules
and regulations and systems that the franchisor sets out for you. You
will be representing the business across the country and maybe the
world. If someone comes into your place and has a bad experience, it
rubs off on everyone.
Leadership Ability – Even if the idea of
leadership bothers you, remember that there are different types of
leadership. Take the time to do the work to discover what type of leader
you are. Once you understand your leadership style, you’ll be able to
be who you are while you lead your staff and business to success.
Organizational Skills – It can be hard to be
organized, so don’t despair if you’re not naturally organized. You can
hire people to come in and organize according to the franchisor’s rules,
and sometimes they will help with that. Your job will be to maintain
that organization. Anyone can learn organization if they make it a
Perseverance – You also need to be able to stick
to it through the hard times (which could be one to three years from the
date you sign the contract) before you see any money for your hard
work. It may be frustrating; you’ll hit roadblocks, but if you stick to
the plan you’ll see success.
Even though you as a franchisee must follow the lead of the home
office to drive profits, you’re still a business owner with all the
risks and rewards that come with the privilege. Make no mistake; even
though you’ve laid down your hard-earned money to become a franchisee,
your ability to be successful will depend on your ability to understand
the overall vision of the franchisor and go on to translate that into
success for you and your community.