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Are you ready to become a franchisee?

are you ready to become a franchisee?

Franchise consultant Peter Williams considers what it takes to become a franchisee

The scope of objective advice available to prospective franchisees is a particularly useful feature of the British franchise marketplace. It comes in the form of published articles, free seminars, information packs, legal guidance and so on, and there really is no excuse for anyone who goes ahead and takes the plunge without considering all the relevant aspects. As statistics continue to show, the great majority of franchisees succeed and my attendances at conferences and award ceremonies provide me with opportunities to meet many successful franchisees, whose achievements I have tremendous admiration for. So what is it that actually makes a franchisee fourish?   Professional advice and guidance is invaluable and the package provided by the franchisor is of the essence. But if you are considering joining a franchise it is important to understand that no matter how suitable and encouraging it looks, the person who is really going to make all the difference is none other than you. Having done all the research and reached a decision on the options you see as most favourable, a process of self-appraisal is strongly recommended. There will be much for you to contemplate and  the following six attributes are worth particular consideration.

Business ambition

Are you genuinely attracted to business ownership? If, as with the majority of franchisees, you come from an employment background, you should relish the prospect of being in control of your destiny and be enthusiastic about running your own show. Also you may be relieved to be putting  the uncertainties of being an employee behind you.

Family support
Are your family, and especially your spouse or partner, supportive of your enterprise? They need to understand the implications, not least with regard to social commitments which may need to take a back seat in the early days so as to give your business activities due priority. In becoming a franchisee your aim could well be to enhance the lifestyle and circumstances of your family, but there will probably be some sacrifces to be made in the early days. Franchising does not usually prove to be a ‘get rich quick’ scheme, as your advisers will no doubt have pointed out. 

Good health
In order to concentrate on developing  your business, you should be free of any ftness problems and a clean bill of health resulting from a check-up by your doctor is very assuring.

Capacity for hard work
It can be taken for granted that building a business usually calls for hard work, but that assumption needs to be put into context. Sometimes, in order to deal with demanding customers or a heavy workload, it may be necessary for you to work quite long hours, starting early and perhaps fnishing late. You need to feel entirely comfortable with this, especially if you are used to a regular nine-to-fve routine. Incidentally, the Working Time Directive that concerns employees does not relate to those who are self-employed.

Good at communicating
Of all personal attributes, I rate being a good communicator as one of the most relevant for anyone going into business. An outgoing personality is immensely important in the vital task of winning customers and, not least, in dealing with employees, suppliers and everyone you come in contact with.

Conscientiousness
As you will have discovered, a franchised business comprises a specifc operating format to which all its franchisees are expected to comply. Quite simply, your diligence in following closely all the systems and procedures your franchisor has put in place is going to be absolutely crucial to your success.To conclude, if you are unfettered by personal shortcomings or domestic worries and are able to move onwards and upwards with a clear head, you are already well on the way to a winning performance and the accomplishment of your ambitions.

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