What do Franchisors Really Want?
According to Mark Fernandez, director of Business Development Alliance , the best way to answer this question is to determine what a franchisor wants from different viewpoints: What they want out of the business, and what they want out of a franchisee.
Although the results from each may be considered independent, the franchisor will not get what they want out of business if they do not have what they want from the franchisee and visa versa.
Money or Long Term Sustainable Business
Franchisors can be simplified into two different categories of motivation: Money from selling more franchises, and franchisors that seek to build long term sustainable business and can see the importance of both franchisor and franchisee needing to succeed.
Franchisors that adopt a short-term approach to franchising will inevitably attract a particular type of franchisee. Should a franchisor have high expectations from what they want from the business, then they will need to work hard to prove that the business is a worthy investment for any franchisee.
Franchisee profiling and selection criteria
A franchise system is only as good as its franchisees. A franchisor can not get what they want from the business if they are not getting the things they need from franchisees.
Franchisors look for certain criteria when selecting franchisees including:
- Good people skills and being financially qualified
- Previous experience in management or business helps
- Positive attitude and someone who gets directly involved in developing a business
- Team building skills and interpersonal skills
- A willingness to learn and adaptable to change
- Someone who can follow instructions
"With strong foundations, this should lead to the achievement of the modest wants and needs of a franchisor, like GREAT franchisees, positive future development and the overall success of their franchise," Fernandez concludes.