You’ve always imagined owning your own business, but you’re not sure if you are interested in reinventing the wheel, and starting from the ground up. If this describes you, then franchising may be a great fit! It’s easy to enjoy the idea of becoming a franchisee; owning your own business while following an already laid out and proven system, but just buying a franchise doesn’t automatically mean you will be successful. You, as the owner and leader need to possess certain important qualities.
Here are five important traits of successful franchisees:
- Willingness to follow a system. If you’ve always been a rule breaker, a rebel, or a person who always takes the path less traveled, franchising may not be for you. As a franchisee, following a system is not only recommended, but required. Franchising is often great for those that have been in previous systematic positions – teachers, military, coaches, etc. In a franchise model, the franchisors have a business system and standards already put into place that each franchisee should not only follow, but believe in. As a franchisee and business owner there is always room for individualization, but there are certain aspects of the business that need to remain consistent across the board. The brand of a franchise is created through uniformity, and successful franchisees recognize and are on board with this idea. Those with an extremely entrepreneurial spirit are often better off opening their own business.
Leadership and management skills. As any business owner, successful franchisees need to possess leadership and management skills. Being a successful franchisee means viewing your employees as your team. Recognizing that your entire staff works together as a team, and one member is just as important as the other to creating overall business success, is key to fostering a productive work environment. Much like the systematic business model within a franchise system, your staff and team are a part of the overall vision of the brand and your divisions success. As a franchisee, the “end game” is often to replace yourself with individuals and systems, much like the franchisors have often already done. To do this, you must lead and manage your team to a place where they no longer need you for every aspect of the business. Proper leadership and management is key to success.- Ability to keep your focus realistic. It is easy as a potential franchisee to see the success of the franchisor, and other franchisees and think that you too will be there quite quickly. It is even easy to get excited about the great potential to make a lot of money. Yes, with a business system already put into place, getting up and running is much easier than starting on your own from the ground up. However, this does not mean that you will be a million-dollar business in a few weeks. When initially getting your franchise division up and running, long hours, extra capital, dedication and passion are often required to help foster your growth as an owner and the growth of your business. Successful franchisees recognize this because they see the big picture and know that these things will bring them to success, like the other franchisees, and franchisor.
- Big picture thinking. Being able to see the big picture is a very necessary trait in successful franchisees. As mentioned above, the willingness and understanding that you will have to put in many hours initially, is ok with you because you see the end game, and believe that it will pay off in the long run. Not being able to visualize this or the future of your business, will likely hinder your success as a franchisee. Remaining positive and keeping your eye on the prize are huge factors in getting you to that prize. Remember to set goals and see the big picture as to why you are doing this, and where you are looking to go. Big picture thinking starts with the right attitude. In the book, The Magic of Thinking Big, by David Schwartz, he talks about having the right attitude, and how having “excusivitis” (making excuses for everything) can really interfere with your success as a franchisee.
Understanding the importance of the client experience. Maintaining the brand, and fostering success is key to consistency within a brand. If there is one “trouble franchisee” it dings each owner franchise wide. Maintaining the reputation of your division of a franchise, is key to the overall brand’s reputation. Building a long term, successful business is about gaining and keeping clients. Good reputation, good client experience and good product/service is key to achieving this. The brands reputation can only take you so far if you yourself are not conducting a reputable franchise division.
Do you possess these qualities? Have you always wanted to own a business? Then franchising may be for you. Find out more about The Brothers that just do Gutters franchising opportunities HERE.