Many people dream of owning a business, but not everyone has that “million-dollar idea” or the know-how to start a business from scratch. For these people, franchising offers a feasible path to business ownership. With a franchise, aspiring entrepreneurs can buy in to someone else’s great idea – one that’s already been developed into a profitable business. While buying a franchise might be easier than starting a business from the ground up, it still takes the right kind of person and skill set to succeed. Here, the Canadian Franchise Association outlines five qualities you need to succeed as a franchisee:
1) Passion and knowledge
The best franchisees are ones who are passionate about their brand and their business. When you truly care about and take pride in your business, it shows. Knowledge is another great asset to have. If you come from a particular industry, finding franchises in a similar field can be beneficial.
Even though you’ll be part of a larger franchise system, you’re still a small-business owner. In order to succeed, you need to work hard to build your business and bring in new customers. Without a boss standing over your shoulder, it’s up to you to keep yourself motivated.
3) Strong work ethic
You may find yourself working long hours, especially during your first year of operation. You need to be willing to put in the time and effort to ensure your business is running smoothly. With a strong work ethic, you’ll be better equipped to manage the many tasks and responsibilities that come with business ownership.
4) Customer-service focus
Whether you operate a brick and mortar store or a mobile business, you’ll be interacting with your customers in a variety of different ways. What it all comes down to is making sure the customer has the best experience possible. Remember, happy customers will come back and, more importantly, recommend your business to others.
As a franchisee, you’re part of a bigger team. What’s good for the team, is good for you. You need to be willing to follow your franchisor’s coaching, as well as work with your fellow franchisees to help them succeed. Also, franchisors want feedback from their franchisees in order to strengthen the franchisor-franchisee relationship and explore new ideas. Franchisors need someone who is dependable and willing to share their ideas.
Want to learn more about what it takes to be a great franchisee? Come to The Franchise Show at the Toronto Congress Centre on October 22 & 23. Our keynote presentation, presented by Peter Druxerman of DRUXY’s Famous Deli and Williams Fresh Cafe, focuses on what makes a great franchisee. For more information please visit www.thefranchiseshow.ca.