Questions about selecting a franchise system
In this section, experts answer the questions most commonly asked by franchise candidates on how to search for and select a franchise system.
What exactly is a ‘franchisee profile’?
We call a comprehensive description of the necessary personal characteristics for running a business a franchisee profile. By using the experience gathered from the pilot phase, the franchisor must be able to clearly answer, among others, the following questions:
- Should the franchisee be a salesperson or rather an organizer or a manager?
- What education and professional experience should the franchisee have?
- What personal characteristics do his customers expect e.g. concerning education, age or sex?
- Is it necessary for the partner to help in the running of the business?
- What financial requirements are there?
Many experienced franchisors, in order to identify a suitable partner, draw up a standard requirement profile with specific norms as criteria. Along with the introductory material these are sent to all those who have shown interest in buying a franchise. This procedure saves all parties time and money, as it deters candidates who are definitely unsuited from making an official application. Questionnaires are frequently used to help choose one of the possible candidates. They can be supplemented with in-depth interviews, practical tests and the checking of references.