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Bulletin

Ten Attributes Of A Successful Franchisee...

Fasken
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Franchising Bulletin

In our Franchising Bulletin entitled "Your Franchisee's Performance: the Importance of Personal and Contextual Factors", we reported on the results of an important academic study conducted in Australia with 1,570 franchisees from 35 franchise systems to identify personal and contextual factors that may contribute to better franchisee performance.

Beyond the factors that were the subject of this study, are there other characteristics that distinguish a successful franchisee from one that performs less within her/his franchise network?

In our experience, the following ten characteristics distinguish a successful franchisee from a less successful franchisee:

1. Is proud to be part of her/his franchise network.

A first (and, in our opinion, the most important) characteristic of a successful franchisee is the high degree to which she or he feels a strong sense of appurtenance to and is proud to be a member of the franchise network and, in her or his market, its ambassador.

2. Integrates well with the values, the culture and the vision of her/his franchisor and of her/his franchise network as a whole.

Under the franchisor's leadership, each network develops its own values, culture and vision, which, among other things, enable it to stand out from its competitors.

These values, culture and vision underlie all communications and decisions within each network, which is why it is so important for successful franchisees to well understand, adopt and integrate them.

3. Respects and applies with enthusiasm and determination the franchisor's system, programs and initiatives.

This does not mean, however, that the franchisee will not question them or that she or he will not also want to contribute, sometimes even persistently, with her/his criticisms, suggestions and proposals.

4. Is proactive.

Research conducted in Australia by the Franchise Relationships Institute team has shown that franchisees who behave more proactively achieve better financial results.

They market their businesses more aggressively and seize more and faster opportunities to increase sales.

However, this characteristic can become problematic if a very proactive franchisee lacks self-control or behaves in a self-centered manner without considering the negative consequences of their actions on the rest of the network.

5. Offers an unparalleled service and experience to her/his customers.

One of the keys to the success of a franchise is the closeness between the owner of a local business (the franchisee), her/his customers and her/his market.

The successful franchisee takes full advantage of this advantage by being close to her/his customers, listening to them and providing them with a buying experience so pleasant that price becomes a secondary purchasing criterion for them.

6. Maintains a positive attitude at all times and demonstrates realistic optimism.

A franchisee can only be truly successful if he or she believes in her/his chances of success and sees the opportunities, not just the difficulties.

7. Treats her/his employees well, which is essential for her/his employees in turn to treat her/his customers well.

 

8. Enjoys doing marketing and public relations in her or his store and in her or his market.

She/he doesn't wait for customers to come knocking at her or his door.

She/he is visible and present in her or his market, is involved in her or his community and makes sure that people often talk about her or his business.

9. Likes to interact with the people around him, including her/his franchisor, other franchisees, suppliers, employees and customers, and knows how to do it well.

A franchisee is in the midst of a vast web of human interaction and needs to be comfortable in these multiple exchanges.

In fact, a successful franchisee must also be able to negotiate well in order to achieve her/his goals.

10. Finally, she/he works hard and, even more so, well.

Success does not come alone, but at the cost of great effort.

Not only does a successful franchisee put in all the hours required for the business to excel, but she/he knows how to well invest her or his time to achieve the goals.

As a learned business management writer once wrote, a successful franchisee works "on", rather than "in", her or his business.

They have mastered both the art of managing their time and the art of managing their business.

We wish you to count in your network the greatest number of these franchisees who play a crucial role in the success of your franchise network.

Fasken has all the expertise and resources necessary to advise and assist you in all aspects of starting, managing and expanding your network, including managing the relationship with your franchisees.

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