Franchise Prospector » Franchising & You
Do You Have a Franchisee Personality?
Money in the bank may not be enough to get you a franchise these days, as more and more franchisors resort to personality profiles when evaluating potential franchisees.
When interviewing with a franchisor, deep pockets and impeccable credit may not weigh as heavily as a ready smile and the willingness to swab the restrooms when needed. As the number of potential fast-food franchisees increases, franchisors have begun focusing more on the personality traits applicants bring to the table and less on their financials.
Personality Predictors
A franchisee's success is often tied to intangible personal qualities, such as ambition and assertiveness. The following quiz can help you determine whether your character traits are compatible with those of a successful fast-food franchisee.
1. How much time are you prepared to put into your franchise each week?
a. 60 hours
b. 8 days a week
2. How much money are you willing to invest in your franchise?
a. A pre-determined, responsible amount
b. My life savings
3. Which phrase best describes your work personality?
a. Maverick entrepreneur
b. Compliant collaborator
4. You have tickets to the hottest show in town, but two employees call in sick for that evening's shift. What do you do?
a. Go to the show - you owe it to yourself to escape work now and then
b. Hand your tickets to your day manager, put on your apron, and get to work
5. A customer's 2-year old child is screaming and running amok in your store, endangering herself and disturbing your other customers. What do you do?
a. Grin and bear it, they are paying customers
b. Request that the parents control their child or leave your store
How Do You Stack Up as a Franchisee?
If you answered "B" more times than "A" on the quiz, more than likely you would be well suited to the role of a franchisee. Fast-food restaurants generally operate seven days a week, so new franchisees must be willing to work long days, weekends, and holidays to successfully launch their businesses. They also must be prepared to risk their last dime.
Although the world needs maverick entrepreneurs, nonconformists might feel stifled under a franchise agreement. Franchisees usually have some latitude in running their businesses, but compliance with franchisor rules is an essential component of the relationship. A willingness to do whatever it takes to make the business succeed is also necessary. Often, this involves personal sacrifices in the start-up phase of operations.
Finally, a franchisee must be assertive when it comes to the safety and comfort of his customers and employees. It is better to alienate one client than to risk losing the business of many. If you can't stand this type of heat, maybe it's best to stay out of the franchise kitchen.
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