Franchise Advice


The franchisor-franchisee dynamic is like any successful double act – it takes a lot of mutual work and understanding to bring out the best in each other. As with all triumphant partnerships – it’s also the most rewarding! By Phil Mowat


stages of how you feel about and work with your “partner”: Ÿ You’ll be giddy with excitement as you are getting to know more about each other. Ÿ You’ll become emotional and happy as you can see this relationship could be “the one”. Ÿ You’ll learn about the reality (good and bad) of what your life will be like from now on. Ÿ You’ll experience the joy of the big day and the excitement of those first few months /years. Ÿ You’ll need to understand that everything is not always perfect and there will be challenges. Ÿ You’ll experience and share successes and both the good and not-so-good times together. Ÿ But ultimately, you’ll have a feeling of togetherness and show support to each other.


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And franchising is the same! For both the franchisor and the franchisee, it’s a relationship, and, like any partnership, requires communication, honesty, support and the desire for shared success.


What franchisors look for in franchisees: Becoming a franchisor is a long-term growth strategy. Top franchisors will have a well-thought-out strategy on how to build and support their network and many will also know what their end game is. Awarding the franchise to the right


candidates is one of the most important, yet hardest, jobs to do for a franchisor. Therefore, having a clear understanding of the profile of person they are looking for is vital. Established franchisors will be able


to look at their network, to see who is winning and who is failing, and why, which will then allow them to build an


t is often said that becoming a franchisee is a lot like getting married. You’ll go through various


ideal profile for future franchisees. A lot is dependent on the sector and


type of role the franchisee will play in the business, but some key, general attributes for franchisees to possess, include willingness to: Ÿ Follow a system Ÿ Be happy to always be learning ŸWork hard Ÿ Be adaptable Ÿ Step up to become a leader Ÿ Move outside their comfort zone Ÿ Ask for help Ÿ Share best practice Ÿ Be focused on results


Above all, franchisees must be happy to make an investment of their time and money, to achieve a healthy return and have an understanding that it’s their business and they are in control to make it work.


What franchisees should look for in a franchisor: There are several crucial factors to think about when you meet franchisors: Ÿ Are they being transparent and open in their communication and when answering your questions? Ÿ Do you trust them? Would your family trust them? Ÿ Are you building rapport with them, and do you feel you could work well with them? Ÿ Do you share the same values and principles?


And, if the franchisor asks you about what your exit strategy is – you’re onto a winner!


What’s the best way to start the relationship and move forward? Quite simply: Regular, open and honest communication, 100% of the time!


“Like any partnership, a franchise is all about communication, honesty, support and shared successes”


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