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What type of selection process can I expect as a prospective franchisee?
Every franchisor has their own process, some more detailed than others, but hopefully nobody relies on the oldfashioned selection process that often boiled down to: ‘If they have a pulse and a chequebook we’ll take them’! Good practice dictates that the franchisor develops a ‘franchisee profile’ before he launches his franchise, which will list the attributes needed by a suitable franchisee for that system. Sometimes the criteria will be designated ‘must have’, ‘nice to have’or ‘not relevant’. There may even be some ‘must not haves’ - such as unsatisfactory Criminal Records Bureau checks. The most obvious requirement is access to enough capital to finance the business, but after that it may or may not include previous experience in the sector, management experience, technical skills, driving licence, sales skills and all round attitude. These requirements will be tested in a number of ways, including application forms, references, credit checks, telephone and personal interviews, psychometric testing, working in an existing outlet, meeting existing franchisees, visits to your home and meeting your partner. Don’t worry if the process seems to be too detailed or intrusive, as that will demonstrate that the franchisor is at great pains to be sure you will fit into his system. Be more concerned if there are few hurdles to jump.
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Exciting Franchise Opportunities
Companies to Consider
Franchise can be in profit in year two, with net profits rising from 7% to 40% on maturity
Expense Reduction Analysts...
Through major banks
Jackson Fire & Security
Business Sales Plus
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£120,000 net profit
Not Just Travel
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