In my newsletter of April 15 (which you can reread by click here), I discussed the factors listed by Australian psychologist, consultant and author Greg Nathan, which he believes enable us to predict, with a certain degree of accuracy, a new franchisee's chances of success.
Beyond these predictive factors of a new franchisee's success, are there any other characteristics that distinguish a successful franchisee from another who performs less well within his or her franchise network?
Here, in my experience, is a successful franchisee:
- Integrates well with the values, culture and vision of the franchisor and its franchise network as a whole
Under the leadership of the franchisor, each network develops its own values, culture and vision, enabling it to stand out from the competition.
These values, culture and vision underpin all communications and decisions within each network, making it all the more important for the perfect franchisee to understand them and adhere to them wholeheartedly.
- Respects and applies the franchisor's system, programs and initiatives with enthusiasm and determination
This doesn't mean, however, that he won't question them, or that he won't want to contribute to them, sometimes even persistently, with his criticisms, suggestions and proposals.
- Offers unparalleled customer service and experience
One of the keys to the success of franchising is the proximity between the local business owner(the franchisee), his customers and his market.
The perfect franchisee takes full advantage of this by being close to his customers, listening to them and offering them such a pleasant shopping experience that price becomes a secondary purchasing criterion for them.
- Maintains a positive attitude and realistic optimism in all circumstances
A franchisee can only really succeed if he believes in his chances of success and sees the opportunities, not just the difficulties.
- Treats its employees well, which is essential if its employees are to treat its customers well.
For employees to take good care of customers and provide them with a great shopping experience(which is essential for sales development), they themselves need to be happy and fulfilled in their jobs.
- Enjoys marketing and public relations in his outlet and in his market
He doesn't wait for customers to come knocking. He's visible, and present, in his market, he's involved in his community, and he makes sure his business is talked about often, and in a good way.
- Likes to interact with the people around him, including his franchisor, other franchisees, suppliers, employees and customers, and knows how to do this well.
A franchisee is in the middle of a vast web of human interaction, and needs to be comfortable in these multiple exchanges.
In fact, the perfect franchisee should also know how to negotiate well to achieve his or her goals.
- Finally, our successful franchisee works hard, and even harder, well.
Success doesn't just happen, it takes hard work.
Not only does he put in all the hours required to make his company excel, he also knows how to invest his time to achieve his goals.
As a learned business author once wrote, our perfect franchisee works " on ", rather than " in ", his business.
He masters both the art of good time management and the art of good business management.
I hope you'll have as many franchisees as possible with these characteristics in your network.
I invite you to contact me(by e-mail at jhgagnon@jeanhgagnon.com or by phone at 514.931.2602) if you have any questions or comments.
Jean H. Gagnon, Ad.E.
Lawyer | Mediator | Arbitrator
jhgagnon@jeanhgagnon.com
514.931.2602
