3 key traits of a successful franchisee

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3 key traits of a successful franchisee

Although franchisees come from a wide variety of different backgrounds, the ambition to succeed, a can-do attitude and the aptitude to succeed are common traits found in the majority of thriving franchisees.

These personality traits make up the ideal franchisee, but they are also skills that cannot be learnt. The franchisor can give you the technical and operational knowledge to run one of the most successful franchises, but to become a franchisee, it takes more than know-how shared in a classroom.

Lets take a look at these three traits in more detail.

Ambition

An ambitious attitude can help anyone succeed, irrespective of what challenges they face. If you have the drive to develop a successful franchise, your ambition will help you achieve this much sooner than you would if you just had the right skillset.

Having the right talents to be a business owner is meaningless if you dont have the ambition to work hard and make necessary sacrifices. Ultimately, it is ambition that differentiates a mediocre franchisee and a top-performing franchisee.

Owning a franchise can be tough at times, as you probably need to work long hours and weekends. Without a clear sense of purpose and the drive and motivation to achieve success, its easy to lose sight of why you chose to become a franchisee.

When youre researching investment opportunities, make sure you find a franchise that matches your ambition. If you have plans to grow your franchise quickly and then expand your portfolio by purchasing additional units, you must ensure that the franchisor is supportive of multi-unit franchising.

Attitude

It doesn't matter how ambitious you are, when youre running a business, there will be periods that only a positive attitude can get you through. As a franchisee, you need to be enthusiastic and resilient even when it all gets too much. A can-do approach will not only get you through difficult times, but it will inspire your staff to do the same.

Whats more, its not just your employees who will be affected by your positive mindset. A can-do attitude also affects customer relationships. When youre happy, other people want to be around you. Your positive approach will help you develop stronger relationships with your customers, which can, in turn, lead to higher profitability.

Here are five quick tips to apply if you feel that negativity is affecting your business:

1. Understand that you are in control. You decide whether to view the glass as half empty or half full, so take control of how you approach any challenges that arise. Choose to be positive and you'll be surprised at how much easier it is to discover solutions to your problems.

2. Put things into perspective. When you're running a franchise, it can be easy for your business to become all-encompassing. This can make it difficult to see the woods for the trees at times. If youre faced with an issue, take a step back and apply perspective before you react.

3. Dont dwell on the bad times. If you do encounter problems, learn from them and move on. Its pointless worrying about the past you cant change it! Its much more productive to focus on the future which you can.

4. Surround yourself with positivity. Even if you have the most positive of attitudes, there will be times when you need to turn to someone else for help. Find a franchise that encourages franchisee networking. If you can share your problems with your peers, you are likely to deal with them quicker than if you tackled them on your own. Likewise, you should choose to invest in a franchise owned by a franchisor who also has a positive outlook on life. This will help when you need to rely on them for support and guidance.

5. Celebrate your successes. When you become a franchisee, you should set yourself some goals that you want your franchise to achieve. When you reach these milestones, make sure you celebrate them. Running a franchise can be tough, so enjoy the good times.

Aptitude

Several skills contribute towards the success of franchisees. However, if you can master the following ones, coupled with having ambition and the right attitude, youll be well on your way to running one of the most successful franchises in your network.

1. Be willing to learn. This may not seem like an essential skill for a business owner to possess but, as a franchisee, it's crucial to your success. You must be willing to learn and take advice from the franchisor and other franchisees in your network so that you can benefit from their expertise and experience. Find a franchise that invests time and money into developing its franchisees and take full advantage of the support that youre offered as part of your franchise package.

2. Be hardworking. As with any business, if youre prepared to put in the hard work, youre more likely to see success. But your work ethic shouldnt just kick in once youve bought a franchise. You also need to put effort into the due diligence that you perform before you invest. Youre also likely to achieve success if you choose a franchise that is aligned with your passions, interests and ambition, as youll be more likely to dedicate time and effort into making it profitable.

3. Communicate well. Excellent communication skills play an essential role in the success of a franchise operation. Being able to communicate with customers and employees effectively will develop loyalty and trust, both of which are key to your success and longevity as a franchisee. Remember that good communication skills are equally necessary from a personal perspective as well as professional one. Being a franchisee can be demanding in terms of the time and energy you are forced to commit, so you should discuss the opportunity openly and honestly with your family, friends and loved ones before you invest.

Starting a business

You may have thought that because you dont have experience as a business owner or even in the industry youd like to get into you cant start your own business with a franchise. In fact, the opposite is true. Many franchisors offer comprehensive training programmes to give franchisees the tools to make their business profitable. Consequently, they judge potential candidates on their ambition, attitude and aptitude instead. So, if you have these in abundance, you could start your very own successful business right now.

Here are three franchises you can join without any previous experience:

EweMove

To start your own EweMove estate agency franchise, youll need to make a minimum investment of £19,995 and pay ongoing marketing costs of roughly £2,000. In return, youll be allocated a territory of around 20,000 households.

Because many of EweMoves franchisees have little or no industry experience, the franchise offers exhaustive training to everyone that joins the team and its provided at no extra cost. Youll be able to take part in a one-week induction training course at the business headquarters, The Sheep Pen; a one-day business training course at one of its national training academies in the Midlands; two national conferences; and a 10-day training programme called Success Summits.

These educational opportunities should provide you with all the skills and know-how needed to get your estate agency business off the ground. Youll even get professional property photography training and a starter pack full of essential items for setting up your business. EweMove only asks that you have a can-do attitude and are hardworking and a people person.

Healthy Feet

For a total investment of £6,995, you can start your very own mobile foot clinic, providing treatments for customers up and down the UK. Healthy Feet uses specialist products to help those with diabetes, arthritis and mobility issues, as well as those who simply love to be pampered.

Youll be offered an exclusive territory near where you live and support in marketing. This is, of course, in addition to the training provided, which includes guidance with working towards a Foot Health Practitioner qualification. When you first get going, you can mange the business around your existing commitments too.

Minuteman Press

For £50,000, you could join the worlds largest and top-rated print and marketing franchise, Minuteman Press. It has almost 1,000 branches and offers franchisees the chance to benefit from regular business hours, business management software and ongoing support.

Specifically, youll be enrolled onto a two-week training programme and learn valuable skills, from marketing and management to pricing. After this, youll be supported by a Minuteman Press representative, who will travel to your centre and help with setting up the business, installing equipment, recruiting staff and initiating marketing campaigns.

To become a Minuteman Press franchisee, you must be hardworking and enthusiastic about developing your business. You should have a strong work ethic and take pride in doing a job well. The franchisor is also looking for capable leaders, who can direct a team of employees, as well as someone who is alert to the needs of customers and able to provide exceptional customer service that will encourage clients to return again and again.

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