How To Achieve The Right Mind Set To Be A Successful Franchisee

09/02/2018 18:00 | Start a business

Getting into the mindset of successful franchisees

There are many factors that contribute to your success as a franchisee. Your choice of franchisor, the skills that you have, the location, the brand, the support system in place, the staff you employ, and much, much more play a part in your chances of becoming one of the most successful franchises.

Some of these elements will be in your power to change and others may not be. But one thing you do have total control over is your mind set. Your mind set is a combination of your beliefs, attitudes and expectation and it governs how we react to situations, obstacles and opportunities.

So, if youre planning on opening a franchise, you need to give some thought to whether your mind set will hold you back, or help you thrive.

Here six mind sets that successful franchisees possess.

Business

A business mind set enables an individual to recognise an opportunity and then grab it with both hands. As a franchisee, this will allow you to work hard to make your franchise a success, despite it being the franchisors business concept rather than your own. You understand that sticking to your franchise business plan will pay dividends for you and the franchisor; and this makes perfect commercial sense.

Having a business mind set also means that youre able to be totally committed to your franchisors business system with the objective of being one of the most successful franchises. If you dont have the right outlook to see the bigger picture you may struggle with the lack of control and creativity that are associated with the franchise model.

Creative

Having a creative mind set may seem to go against the ability to conform to franchise rules, but can actually give you an edge in the franchising industry. Rather than wanting to rebel against the franchisors business model, being innovative means that youll become an assertive problem solver. It also enables you to share ideas and opinions with the franchisor which may improve the franchise as a whole.

OK, so you cant rip up the rule book, but you can push back and customise your offering based on the needs of your local customer base. In fact, this type of entrepreneurial spirit and adaptation will be encouraged by the franchisor. It can also be the difference between an outstandingly well-run and profitable franchise compared with one that has mediocre performance. So, if you have a creative mind set, dont be put off by the limitations of a franchise, as theres always room for innovation.

Confident

Its understandable why a new franchisee may have a crisis of confidence. Being faced with an unfamiliar environment and increased responsibility, you may feel at bit overwhelmed. During these times of uncertainty, failing to have confidence can make a tough situation even more difficult.

Its important that you have confidence in your abilities, your franchise business plan and the business model. You invested in a franchise because you believed you can do it and this self-confidence will help you through the challenging early days.

Optimistic

When youre opening a franchise, as well as the good times, there will be tough days, challenging times and demanding periods. Its not always easy to get through these more difficult spells with a smile on your face, but having a positive attitude really does help.

Being optimistic even in the face of adversity, is an attribute that not all franchisees display. But being able to learn from the bad times, dust yourself off and move on, is a quality that will make you stand out from your peers.

Proactive

From an entrepreneurial perspective, having a proactive mind set means that you take full responsibility for the success of your franchise. Yes, other factors such as the economy and the competition can affect your profitability, but ultimately, youre in control of whether you become one of the most successful franchises.

And when opening a franchise, proactivity is an advantage. You know when something needs to be done, and you get it sorted. You take responsibility by predicting any issues, setting the boundaries, leading by example, and always looking for ways to improve.

Open

As a franchisee, you need to have an open approach to business ownership. Chances are that you chose the franchise model because of the support thats available from the franchisor, so use this help if you need it. Dont be afraid to ask. Be open and willing to take guidance from those who have experience and expertise.

Having an open mind set will enable you to appreciate the franchisors support system and use it to full advantage. Your franchise business plan will only be achievable if youre able to be honest about the areas that you need a little help and assistance with.

Successful franchisees will display many, if not all, of the desired mind sets. Before you commit to opening a franchise, reflect on your own mind set to understand if you have what it takes. If you identify any gaps or weaknesses in your outlook, you should look to address these before you become a franchisee.

Once you know that youre ready for the world of franchising, you need to find the right franchise opportunity to suit your personality and long-term goals. When you meet with the franchisor ask what attributes their successful franchisees possess to see if you will be a good fit.

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