 |  | FranchiseKey International – Over 8,000 Franchise and |
Franchise News - Article
23.07.2009
Is there a particular profile to become a franchisee?
Let’s be realistic: in order to become a franchisee, one must have at least some financial means; he must find the right brand, but also he has to be chosen by a franchisor. We will try to formulate some general ideas but let’s not forget that there is some specificity to each situation.
For a business entrepreneur, franchising has become incontrovertible in many sectors. Working with a franchisor reassures and makes you gain time. Signing a franchising contract must give you reassurance that the concept was experimented at a pilot point of sale, a guarantees that some services will support your activity. Training provided by the franchisor is an essential for performance improvement in marketing and in the management of the business. Nevertheless, you remain an independent entrepreneur and cannot have all-risk insurance. Franchisors know it and thus have a set of conditions pertaining to the choice of candidates.
The first step is to be sure you have enough financial means. In general, a franchise requires a slightly higher investment than the one needed for an independent business; it is to finance better locations and a more performing business. This will allow you to start in good conditions, to have sufficient stocks in your warehouse, a good settlement, and the means to become well-known. However, you can find franchises for every budget: from 30000 euros up to more than a million euros… In addition, in case you have a staff, you must possess managing capacities acquired either by experience or through training. We can notice that today:
– 75% of franchisees are men; but women are also sought
– Franchisees have an average age of 42 years since some time is needed to dispose of a sufficient capital; but there are many franchisees in their fifties, and those in their thirties are appreciated.
– Their level of education is past baccalaureate since many of them used to be business executives.
Some franchisors accept only high ranked business executives who have had several experiences in HR management; others prefer self-made-men. Many other qualities pertaining to marketing and management are needed. Indeed, some franchisors prefer beginners who can easily adapt to their methods and mostly are able to make the business profitable.
Except for consulting jobs, it is often more important to be a good motivated learner than to be experimented in the job. A candidate who has managed a team in a big company or a mall can be attractive to some franchisors, whereas others may prefer a candidate who already owns his business and is in desire for a change. Every situation is specific and must be examined separately.
Finally the best tool for success is a specific study of the adequacy of your profile relative to a specific brand. A franchisee is a boss; he must apply the franchisor’s techniques but also make best use of the margin of liberty he has in order to come up with an interesting performance. His role is that of the head of a company who is in touch with his clientele and by this ensures his success. Flexibility and adaptability are also necessary for the franchisee to possess. He must certainly respect the brand’s rules but also autonomously manages his business.
Dominique Deslandes and Jean Samper
HYPERLINK "http://www.ac-franchise.com/"
Filter
