Assessing the biggest hurdle - YOU!
Article by Nigel Toplis
The Bardon Group
My old guv’nor – Moshe Gerstenhaber (who launched Kall Kwik 40 years ago) always believed that every potential franchisee should be an ‘enterpriser’.
That is a person who wants to be employed, is looking for the rewards of enterprise and is willing to take some risks.
BUT they should not be an entrepreneur - ready to take on the world with an untried scheme.
So more of a damned good mechanic rather than an Elon Musk!
Surprisingly, most entrepreneurs rarely make good franchisees.
WHY I hear you ask?
Well, franchising relies on teamwork and working to a successful system, whereas entrepreneurs tend to be completely independent and continually try to ‘re-invent the wheel’.
If you don’t have the self-discipline to work to a system, and don’t want to learn a proven method of doing business then you are probably better off looking at something other than franchising.
So, the first step in evaluating whether franchising is for you is a thorough and honest self-assessment and you need to do this long before you give up the day job.
To be a franchisee you must have wholehearted commitment and be prepared that becoming a franchisee, running your own business could change your whole lifestyle. A franchise is not simply a job – it is much bigger.
Your passport to success will rest to a large extent on being realistic about yourself – your skills, your attributes, your work ethic and your financial resources.
If you want to become a successful franchisee it helps if you have an enterprising personality. It certainly helps is you are outgoing, positive (half empty glass purveyors need not apply!), enjoy problem solving and have a surfeit of energy.
Ideally, you should be a self-starter, goal orientated and a team player – someone who can be trusted with responsibility and can see things through to a successful conclusion.
You are a doer – a completer!
However, you are also a person who understand how to make use of good advice.
Successful franchisees understand the need to work within the system and not waste time ‘reinventing the wheel’; they recognise the value of working with the franchisor – taking advantage of their experience, knowledge and support and they appreciate that working with fellow franchisees and sharing best practice is good for all.
So, be honest with yourself.
If you are shy – then understand that trait BUT also recognise that you will have to go calling on potential business prospects – so work with the franchisor to develop strategies to do this.
By the same token if you are not a ‘people person’ then choose a franchise that does not rely heavily on interaction with people. There are a wide range of franchises out there and you should find one that suits your shills and your ambitions.
Most importantly though, don’t sell yourself short.
Most franchisors want you to succeed as much as you do, so you’ll find plenty of encouragement if you are still unsure about your chances.
Last Updated: 24-February-2020