Franchising businesses, especially established ones, reserve the right to select or even screen who to franchise to. Not all applicants for franchises will be chosen – and money will have little to do with the choice.
While different companies have different criteria for choosing franchisees, there are commonalities in the qualities they look for in partnering with firms.
Shakey’s CEO Vic Gregorio, in an interview with Josiah Go (Philippine Daily Inquirer, June 5, 2015) shares his thoughts on the question: What does it take to be a business franchisee?
“The franchisor-franchisee relationship is a special kind of partnership. A franchisor looking for a franchisee should bear in mind that he is looking for someone who will be given part of the responsibility to make his business grow. This means the prospective franchisee should have the background, experience, temperament and skills needed to get the job done.
A good franchise candidate must have a wide and strong support network of family and friends. These will be his first customers, after all. He should be an A student, which is an indication of his work ethic. This can also be seen in his job history. If he has been able to hold a job for a long time and held important positions, then it shows that he is not only a good worker but also a good manager.
A good franchisee should also be a good follower, since he would be required to follow the franchise manual, which is designed to increase his chances of success.
Another important characteristic of an ideal franchisee is his ability to work easily with others because a franchisee will deal with a lot of people – the franchisor and his franchise support team, the suppliers, his employees and his customers.
It will help if he is also good in sales.
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