Who Makes a Good Franchisee or Partner?
At C-Lovers, we understand that skill sets can be taught. For us it is attitudes and people skills that make the difference. We look for a willingness to learn, desire to provide exceptional value to the guest, willingness to get involved in the day-to-day operations and other intangibles that simply can’t be taught. When selecting our franchisees we place a priority on positive attitude and the people skills of the individual rather than their experience.
Below are the top 10 qualities that we believe are most commonly found in our successful franchisees. Rate yourself and see how you compare.
Qualities We Look For In A Franchise Partner
- Ownership, Accountability and Responsibility. Successful franchisees take ownership for their own success. They rely on us, the franchisor, for support and assistance. They will seek input possibly from other franchisees, but know that their success is dependent upon them. If things are not going according to plan they make adjustments to get things back on track, rather than placing blame, making excuses or being in denial.
- Willingness to follow a system. Successful franchisees are committed to following a system. They recognize that a brand is created through consistency and that there is a need for all franchisees to follow the franchise business model. Some individuals are too entrepreneurial, not willing to adapt but instead want to do their own things. These individuals are best to open an independent business.
- Customer service focus. A successful restaurant is all about attracting and retaining customers. Successful franchisees have a high desire to provide exceptional customer service. This is how you build a long term viable business. It is far easier and more impactful to have existing customers coming back to your restaurant more often, than trying to get new customers.
- Leadership. Successful franchisees have the ability to get things done through others. They see employees as a valuable asset rather than an expense. They will communicate to employees what is in it for them. Their employees are treated as individuals, with respect and trust. The successful franchisee Inspire others to a common vision.
- Optimistic outlook. Restaurants will always have their ups and downs. You will be faced with challenges, i.e. employees not showing up for work, running out of inventory, etc. Successful franchisees don’t let these issues take away from their long term positive outlook. They always see the glass half full, not half empty. They respond to the issues knowing that it is simply a small speed bump and not an insurmountable mountain.
- Energy and stamina. Initially starting a restaurant may require long hours. Successful franchisees recognize that starting a restaurant will require a lot of long hours and hard work during the initial start-up phase. They have the energy and stamina to work the long hours and do what is required to start the business.
- Realistic expectations. It may take time to build the business to solid profitability. Successful franchisees are not expecting to get rich overnight. They may not get rich at all. Instead, they are going into the business knowing that the restaurant will provide a great income and will allow them to build long term equity.
- Drive, high attainment. Successful franchisees have a habit of setting goals and working hard to achieve them. Ideally the goals are written. They are fully committed and focus on the achievement of their goals. Despite obstacles and challenges, the successful franchisee does not give up.
- A passion for the brand. Successful franchisees are excited about the C-Lovers brand. They are constantly promoting C-Lovers in the community and with friends. They are excited about getting up in the morning and going to work. They strongly believe in the food and products that we offer.
- Financial ability. A common reason why businesses fail, often within the first year, is because they are undercapitalized. Successful franchisees have the financial investment required to invest in the restaurant initially as well as provide for the working capital needs during the start-up phase of the business. The successful franchisee is not borrowing all the funds and having all the profits going towards servicing debt, but instead has anywhere from 30% to 50% unencumbered funds, or cash, to invest.
Canadian Franchise Opportunities Are Available For The Right Person
No person is perfect but if you have the majority of these qualities, you have what it takes to be successful with a C-Lovers franchise. Most of our successful franchisees have a variation of these ten qualities and character traits. It is what has made them successful. How do you compare?
Getting into business for oneself is not for everyone. However, doing it through a franchise like C-Lovers allows you to minimize the risks of getting into business. All you need to get started is the right attitude. Find out about C-Lovers franchise opportunities in BC and Alberta.
Written by Wayne Maillet, president of Franchise Specialists. Wayne is a leading Canadian franchise management consultant and published author of the book Franchising Demystified. You can order the book at http://www.franchisingdemystified.com/
Wayne Maillet can be reached at 604-941-4361