Essential and Desirable Traits in a Franchisee

in Small-business

Franchising is a business strategy that aims to maintain and keep customers. This type of strategy is an alliance between group of companies or people who have common goals to dominate the market. By localizing a certain product or service, businesses are able to dominate the market and retain its customers.


In addition, franchising is about opting to follow a certain standardized operating procedure to replicate the success of the original company (where the franchise is based). Following a tested track is often characteristic of a good franchisee rather than having innovative ideas (as in the case of entrepreneurs). Besides following a proven system, there are also ot her personal traits that make a franchisee successful.


Building Positive Relationships


Regardless of franchise type that individuals choose, they will eventually deal with employees and customers –so attaining workable relationship with them is a must. Good franchisees understand the need (and advantage) of being people oriented, so they join civic groups and establish themselves in the community. Likewise, they co-exist with their employees by sharing their best practice and knowledge with them.


Calm and Confident Leader


There is no point in bickering to employees when economic turmoil comes in. Rather, people need to see their boss who is on top of the situation. A good franchise leader does recognize that there is a problem but would focus of doing fundamental responsibilities and get employees to do the tasks that need to be done. Collective and informed action is the key to keeping things going smoothly within the business.


Keen in Achieving Results 


Franchisees who keep their best franchise practices, would know that focusing in producing results in crucial. They have respect for acknowledging milestones or achievement that their franchised business has accomplished. Moreover, these achievements are benchmarks to further enhance their practices for accomplishing other objectives. Although a franchise does follow tested practices, franchisees must be willing to take recourse if these practices are not meeting their goals.


Financially Aware


A good franchisee would also have the necessary startup money or investment prior to applying for a franchise. Even after an individual signs the agreement, they should monitor that money gained and expended inside the business. Best franchise coaches can help prospective franchisees do this.


Willingness to Ask for Help


A franchisee is not someone who can always withstand problems. Asking for professional advise whether from best franchise coaches, franchisors, or family members is a good way for them to relieve their stress. Asking for help when needed maintains a healthy business relationship between franchisors and franchisees.


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Essential and Desirable Traits in a Franchisee

This article was published on 2012/03/16