08/28/2019

Top 5 Traits a Franchisor is Looking for in a Franchisee

Top 5 Traits a Franchisor is Looking for in a Franchisee

By Van Ingram, Golden Corral Vice President of Franchise Development

An old joke said, “I would not want to be a member of a club that would have me as a member.” It’s a humorous form of self-deprecation. But it does not hold true in franchising. The truth is that you do want to be part of a discerning system that expects high standards from you as a franchisee. You are investing in them and they are investing in you. Most every franchise has a discovery day or similar vetting process. They are looking for certain characteristics and they are comparing you with their most successful franchisees.
 


The Qualities You Need as a Franchisee

 

What are these companies looking for during their vetting processes? Here are the top five traits that will move you to the top of the list for the franchise you want.
 

1.  Business Acumen

This might seem intuitive, but they are looking for people that understand business. A franchisee must wear many hats. These include HR, marketing, sales, customer service, operations, training, real estate, and construction, among many others. It is likely that you have skills in a few of these areas. However, it is the franchisor’s responsibility to augment the areas where you need help. The key is selecting a franchise opportunity that capitalizes on your greatest strengths and then requiring the franchisor to support you in the other areas necessary to be successful.

2. Willingness to follow a process

Franchising is about replicating a process. Franchisors are looking for candidates that are willing to follow the proven processes. This starts in the due diligence phase and goes through the entire opening and operating timeline. Candidates that are unwilling to follow a process while reviewing an opportunity are not going to miraculously change and become more compliant once they become a franchisee. Franchisors want entrepreneurial spirit, but they want it channeled in the same direction as the corporate culture.

3. Willingness to adhere to the training requirements and operational procedures

The franchisor is looking for candidates that are willing to follow the entire training and operations processes. This is a key step in the review process for most franchisors. Remember, you are investing in a proven business concept.

4. Customer service is paramount

Most franchises have some form of customer contact. You are representing yourself, the franchisor and every other franchisee in the system. It is incumbent upon you to exhibit great customer service for your own benefit and the benefit of the other stakeholders in the franchise.

5. Willingness to participate in the franchise system

You need to be a constructive member of the franchise community. Franchisors are looking for people who will participate in the franchise association, join leadership committees and attend the franchise convention. This is a key success factor. Every franchisor will tell you that there most successful operators are the most engaged operators.

Start Your Franchise on the Right Foot

You have made the decision to become a franchisee. You are starting to review various opportunities. Now you need to look at yourself through the prism of the franchisor and determine which factors are important to them as they consider your candidacy. You want to affiliate with a franchisor that is willing to decline someone that does not exhibit the five traits listed above. You want to be the candidate that is approved.

Learn more about a franchise opportunity with Golden Corral when you click here.

*This website does not constitute an offer to sell a franchise. We offer franchises, as well as development rights to open multiple franchised stores, only through our Franchise Disclosure Document. In addition, if you are in a state that requires franchisors to register their franchise offering before offering franchises or development rights in the state, we will not proceed with any offer unless we currently are registered in that state.

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P.O. Box 29502, Raleigh, NC 27626
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