What makes a franchisee successful?
Posted on September 24, 2009 by Lizette Pirtle
The success of franchisees depends on many factors however the most important ones seem to rest on the franchisee. The outer factors include:
- Is the franchise concept viable?
- Is the success of the business replicable?
- Are the financial results of the business sustainable or is the business just a fad?
- Is the business capable of producing profits commensurable with the investment required.
- Does the franchisor provide an effective training program?
- Does the franchisor offer a solid support system with efficient and effectual tools?
- Does the franchisor focus on innovation?
- Does the franchisor invest in the system continuously?
- Is there sufficient demand for the business products and/or services?
Traditionally franchise experts have focused on these outer elements as the keys to franchisee success. Yet, if these factors were enough to produce successful franchisees then no franchise systems with these components would ever experience franchisee failure. Unfortunately this is not the case.
Franchisee success depends on much more than outer circumstances and conditions. It depends on the inner character of each franchisee, specifically around the following factors:
- How well do franchisees know what they want to achieve from the business; that is, what the business will do for them? How engaged with their dreams are they?
- Do they hold beliefs that support their success or are they still hanging on to beliefs that work against them?
- How ready are they to accept all of the conditions that are brought about by their potential success?
Franchisees who don’t do well in a franchise where others are thriving tend to look outwards for the causes of their personal lack of success. Typical comments from these individuals include:
- Had the franchisor been honest with me I would not have bought into this franchise.
- Only those franchisees who have this or that innate skill can succeed at this business.
- If we only had this or that tool then I could succeed.
I know this may sound stern but to me these are rationalizations from franchisees who are not ready to take responsibility for their success. There may be some truth to their statements and feelings, but when they use them to justify their results without examination these statements are unreliable.
Successful franchisees know what they want and go for it. They hold the beliefs that support their success and dismiss those that don’t. And, they are willing to do whatever it takes to get ready to achieve the success they seek.
Franchise Success = Dreams + Beliefs + Readiness
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Tags: Beliefs, Dreams, Franchisee Success, Readiness