Much is written about the ideal franchisee and which characteristics franchisors are seeking in a potential franchisee. Just as importantly, the ideal franchisor should have certain characteristics as potential franchisees are investing their hard earned money and entrusting their future with the franchisor.
Successful businessmen in the world of franchising share the same traits and characteristics when it comes to business know how which includes leadership, interpersonal, decision making and time management skills.
It takes a certain type of individual to influence and motivate people effectively. Strong leaders take charge of a situation and express themselves directly and calmly, yet know how to conduct themselves under pressure. A leader listens to others’ perspectives in an objective manner and is able to take sustained decisions when a situation warrants it. A leader may be faced with setbacks and will come back strongly.
A franchisor must possess a strong service motivation and should develop a rapport with others for a mutually beneficial business relationship. This will help build a strong long-term relationship leading to happy and loyal franchisees.
Decision Making Skills
Being a practical problem solver is gained through experience, accumulated knowledge, and common sense. A franchisor must know when to take a calculated risk and when to walk away. It is important to weigh both the advantages and disadvantages of a problem before deciding upon a solution.
Time Management Skills
Franchisors demonstrate a strong sense of structure and are organised in their approach to everyday life. They are sensitive to organisational guidelines and requirements and operate by the rules. They adopt a systematic approach to managing priorities and daily demands, knowing how to switch gears when necessary, while remaining focused on a basic plan.
So, do you measure up as an ideal franchisor?
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