There is nothing like guaranteed success and 100% security in the Franchise Industry. Not everyone is successful, as with any other thing in life. But you can be in for some disappointment if you think everyone can go lucky and come trumps running a franchise business.
“Building a franchise involves having the right people around,” says Iyyappan Rajendran of Strategizer- The leading Franchise Consultants In Chennai. Franchising is building concrete and meaningful relationship by making the right choices every time. Psychometric tests, a test of one’s capability, personality and aptitude, are increasingly used by many franchisors to find out if a franchisee fits the bill properly; but that’s not everything. It is also the standard tool that even franchise consultants have been using to determine how good a franchisee prospect is.
It isn’t just a man’s world out there:
It is a tough call to beat intuition, your own, but a woman’s intuition, beat it if you can. It’s good to have a woman participant in the selection process. Sounds incredulous? This can do a world of good and improve the chances of finding the right franchisee. Psychological studies have it that women can be more penetrating than men. Men, though they possess this talent, aren’t just discerning and farsighted than women are. More often than not, men may pick someone who might just look the thing; however, don’t possess the required skill set to make it at the highest level. It can spell trouble in the long run and also runs the risk of replacing a franchisee if it fails.
Get to know the prospect’s better half:
Another way is to get in touch with the prospect’s ‘other half’ before arriving at a decision. This is to see if the prospect in question has all that it takes to operate a franchise – energy, ambition and commitment. Further, if the prospect has a troubled personal life, he or she will lack family support to walk the low tides of life. Remember operating franchise, as discussed earlier at the start of the blog, can be, at times, a touch march.
Personal touch matters a lot:
Iyyappan Rajendran adds, “The point is personal touch can go a long way in deciding the right franchisee and it holds good for selecting the correct franchisor as well. I would like to understand what one’s life partner feels in his or her hindsight on taking up a business franchise opportunity; in that case, I may be happy to outline the opportunities that come along with the business prospect. Occasionally, I may hear from prospects that decisions are made at home. I always invite over the prospect and his/her better half for a meeting. It has its own bit of advantage.”
Every little thing starts at home:
There is an old adage that everything starts at home. “I know of a franchisor that made a surprise visit to a prospect’s home only to find it extremely dingy and dismal in nature. The franchisor didn’t hesitate to turn down this prospect as his business involved a successful chain of cafe. The last thing that the franchisor would want is a plain lousy experience dished out to customers looking for some real experience. Not to mention the mess in the form of unhappy customer complaints left behind by the franchisee for the franchisor to deal with.”
As seen above, picking a good franchise is about understanding certain cues, and not an exact science. It can be experimentation in itself, but you can play down the risks involved with a grain of horse sense and maturity.