Tom Norwell has been a leader in the Retail and Franchising industries for over 25 years both in Canada and Australia. Tom became a Boardroom Metrics Accomplished Executive in September of 2010.
Choosing the right franchisee is never an exact science. These three considerations can help you make the right choice.
1. Follow your Core Values
Like any business you need to know what your core values are.
Realize that you need to match perspective Franchisee core values with those of your organizations.
Keep in mind that the relationship you ultimately have with your Franchisee is a legally binding one. It is not an employee/employer relationship. It’s a partnership. This is an important distinction. Never take on a partner unless that partner has two things: a shared philosophy on the business and something they bring to the table that you can’t.
Developing formal review procedures in a multi-layered recruiting process is paramount. There are no ‘do-overs’ once the ink is dry!
2. Choose a Franchisee that is Willing to Follow
Too often Franchisors introduce their brand to the market then rely too heavily on the Franchisee to develop it.
The Franchisor should always be out in front to their Franchisees. That’s why the Franchisee entered into the Agreement in the first place. Many, if not most, brand enhancements are initiated at the market level, where the Franchisee toils. Nonetheless it’s important that the Franchisor vets the initiatives, and if deemed by the Franchisor relevant to the Brand develop processes to multiply the initative concept wide.
Don’t let your Brand get watered down by well intentioned Franchisees. It will damage the Franchisors concept and the Franchisees investment.
3. Choose A Franchisee that is engaged.
Franchisees are where the rubber meets the road.
Pay attention to what’s happening in your markets. Ensure that your Franchisees are fully engaged in their business and understand where they’ve been, where they are, and where they are going. The best way to do that is to listen to those franchisees who are applying your Brand at the market level.