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You might want to run your own business and think that taking a franchise would be an easier way out. An independent franchise consultant, Jeff Elgin, says, “Franchising is all about following a proven system in order to replicate the success of the original business.” So, you should have the initial ability to follow predefined systems. There are some definite traits you need to possess or acquire to become a desirable and successful franchisee. Here are some of them:
If you are one who can focus on production, can create achievable benchmarks and then know how to achieve them, you are an ideal fit to become a franchisee. It is important to be realistic and have achievable targets. If you can stay firmly rooted in the reality of your region, know your customer and realize what can and cannot be done, then ensure you take up a franchise of a brand that can back your personality trait.
Optimistic and Motivated
Like any other business, yours can also go through its ups and downs. In such a case, a person who continues to remain focused and has creative ways to handle challenges makes for a good franchisee choice. If you are not easily demotivated and can pass on the same energy to your team, are optimistic by nature and a troubleshooter, consider yourself an ideal choice for a franchisor.
Any businessman has to be a people’s person. You have to be likable and dependable. Your claims should not be loose and empty and must be marked with actions. Such a person automatically is believable and his product or service naturally sells and garners community support. Such people are usually the first choice of franchisors. Remember, you don’t have to be just a talker but someone who ‘walks the talk’.
Resilient and Focussed
Franchise model does not have rooms for experiments and taking risks. As a predefined business model, it will not have room for such foolhardiness. So if you are looking for such short-term adventure, then it is best to keep the franchise option out of your business basket. Franchisors usually look for someone who is focused and resilient and can stick to a given set of rules and benchmarks for a longer time. A franchisor would want to trust and depend on such a member of his extended brand building exercise.
If you show the qualities of a patient gatekeeper, you might have the chance to change your franchise to that of a master franchise. In such cases, you have all the freedom to mentor and train people under you and can evolve the same brand taking it to another dimension. But this needs maturity, patience, and careful long-term planning. Franchisors would jump at finding such a rare feat, but if you are one of them, jump on the franchise bandwagon and get started immediately.