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How do I stand out as a prospective franchisee?
Shelley Nadler writes:
Once you’ve decided what franchise you wish to apply for, you’ll need to complete the franchisor’s competitive recruitment process, which may involve meetings and can include various tests.
A franchisor may have a franchisee profile based on past experience in the sector, as well as characteristics and skills an individual will need to be successful. You should do your research and ensure you meet these requirements and be prepared to provide relevant examples of how you think you match the profile.
You should learn everything you can about the franchisor company before you meet the team, including the history of the business, how many franchisees it has, how long it’s been running a franchise operation and the market the franchise operates in. You should also prepare a list of questions you wish to ask the franchisor.
A prospective franchisee should appear motivated and engaged at meetings with a franchisor. It’s essential for the franchisor to be able to work with and trust the franchisee with its brand name and goodwill. Therefore, franchisors will carefully consider the personal qualities of franchisees during the selection process. A prospective franchisee should also be able to show they understand how franchising works as a business model.
Franchisors will evaluate how ambitious a franchisee appears to be, as the more committed they are the more likely they are to be successful. The franchisee must be able to convince the franchisor they are capable of managing a business independently, but is willing to work within the constraints of the franchise system.
Shelley Nadler is a legal director in Bird & Bird’s international franchising team and has many years’ experience of advising on all aspects of franchising.
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Exciting Franchise Opportunities
Companies to Consider
60% bank funding, subject to status
Expense Reduction Analysts...
Through major banks
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£14,000 per week
Multi-unit opportunities available
Not Just Travel
£600,000 to £800,000
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