It takes a certain personality to be a franchise business owner, and even with enough capital, the end result isn’t guaranteed to be successful. Although many think franchising is similar to being an entrepreneur, there are certain characteristics required to become a franchising star.
How do you know if it’s meant to be? The TWO MEN AND A TRUCK® franchise development team formed seven key traits potential franchisees should embody for optimal franchise success:
1. Ability to follow a system: The most valuable component of entering a franchise system is that a time-tested road map has already been created for you. The process kinks have been ironed out, the methods have been tweaked, and the system has been proven. As long as you abide by the system and stay on course, success will follow.
2. Willingness to ask for help: As a business owner, you’ll find yourself in situations you haven’t experienced before. The franchisor is there to support and guide its franchisees. The willingness to ask for help is central to maintaining a healthy business partnership as well as aiding the franchise business to a healthy position. A franchisee’s staff can also be there to support the franchisee in their endeavors. The ability to delegate work when necessary will not only relieve stress from the franchisee, it will also foster team development as a whole.
3. Effective leader: Individuals who have experience leading a team make model franchisees. The power to deal with people, to lead a team, and to communicate well with others are notable skills to have as the boss of your own business. The franchisee will train and manage their team, and it is essential they learn correctly from the beginning.
4. Excellent communicator: With any business, communication is key. This holds especially true in a franchise system. The franchisor will need to stay in contact with the franchisee to share updates and insights and the franchisee needs to communicate to the franchisor how their business is doing. Moreover, they need to consistently communicate to and connect with their staff.
5. Result driver: A good franchisee pays attention to results and realizes actions alone don’t guarantee achievement. Franchisees should concentrate on meeting objectives, focus on cost and quality, and hold performance to high standards.
6. Be reliable: Excellent franchisees tend to be reliable and all-around solid individuals who are careful but not necessarily risk averse. When a franchisor awards a franchise, they are entrusting the new franchisees to continue growing the brand and contributing to the system. The franchisee must have the skills to be consistent and the ability to manage the operation effectively.
7. Be resilient:Starting a business is full of challenges, and even the most prepared may face setbacks, but the franchisees who thrive learn from it and continue pushing forward. They see the big picture and know it makes them stronger as a person and businessperson. They realize the importance of staying motivated by relishing the long-term results.
Think you’ll make the perfect franchisee? Visit www.twomenandatruckfranchising.com to read more about TWO MEN AND A TRUCK® and our ongoing growth and open markets.