7 Common Habits of Successful Franchisees

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common habits of successful franchisess

Ever wondered what the recipe for a successful franchisee is? There are lots of common franchisee traits that are found in those who start a franchise and truly succeed. In this article, were going to take you through seven franchisee habits and franchisee traits that could set you up for significant business success.

There are a few things successful franchisees all possess, from their outlook on life to their love for a challenge. If youre looking to emulate their success, youre probably wondering if there are any top franchisee traits or leading franchisee habits you can adopt for yourself. Weve picked out seven of the most common characteristics the worlds most successful franchisees share and why theyre so important if you want to go far in franchising.

1. They thrive within the franchise structure

You might not have heard the term intrapreneur, but its a great way to describe the most successful franchisees. The word was coined by entrepreneurs Gifford and Elizabeth Pinchot in a 1978 whitepaper. It was created to describe managers in large organisations who approached their roles with an entrepreneurial mindset, which greatly benefitted their companies.

While franchisees are not employees and dont report to anyone in the traditional sense, many are drawn to a franchise as there is more structure and support in place when compared to independent start-ups. They thrive as theyre able to reap the rewards of running their own business within the tried and tested structure of a franchise.

A 2002 study by Kasselmann and colleagues summed it up well, saying:

Franchisees, much like intrapreneurs, exercise a unique blend of entrepreneurial and managerial characteristics by exposing themselves to a moderate degree of risk within a proven and established business framework.

The point here is that, in order to be a successful franchisee, you have to thrive operating within a network and be willing to follow a few rules. It will vary between franchises how hands-on your franchisor is, and some will only set out a few strict rules and guidelines. You will still have plenty of chances to use your own ideas as a franchisee you could get creative with your marketing and lead generation, for example. But if youre a serial entrepreneur and want total freedom, youll probably waste time butting heads with your franchisor about small restrictions, rather than building your franchise to its full potential.

2. They dont rely too heavily on their franchisor

Its true that your franchisor is there to support and advise you, but the most successful franchisees can make key decisions on their own. Your franchisor isnt your boss and you dont have to go to them with every problem you face during day-to-day running. If youre going to succeed as a franchisee, youll need to be self-motivated and able to come up with solutions to make your business run more effectively.

The most successful franchises are full of franchisees who take a creative approach to problem-solving. They can overcome challenges or identify opportunities when traditional methods arent working. Whats more, once theyve found a great solution, they share their findings with other franchisees in the network so that everyone has the best possible chance at success.

3. Theyre not afraid to speak up

Even though theyre happy to follow their franchisors guidance, the best franchisees arent afraid to make their voices heard. Whether theyve stumbled on a more effective way to carry out a set process, or have an idea for a new product, they wont have a second thought about suggesting it to their franchisor. And its not uncommon for franchisees ideas to be implemented across the whole network.

On the other side, the most successful franchises are willing to take on board the suggestions and ideas shared by their franchisees. After all, franchisors are the ones that come up with an excellent business concept, but its likely theyre not an expert in every area.

Even one of the worlds biggest franchisees, McDonalds, has taken ideas from its franchisees. The iconic Big Mac was created by Jim Delligatti in 1967, after realising customers wanted a bigger burger. More than half a decade later and one franchisees humble idea is now the fast-food franchises most iconic product.

4. They constantly look for ways to develop their business

In our ever-changing world, its essential that franchisees stay up to date on changes in their sector. The most successful franchisees make market research a vital part of their week so that theyre always aware of what competitors are up to. Whats more, theyre always looking at ways to take advantage of new developments, ideas and ways of working to take their business to the next level.

Of course, your franchisor should also be carrying out research too, but every franchisee could benefit from reading relevant news sites, magazines and forums when they can. Try scheduling 15 minutes at the start of your day to catch up on whats happening in your industry, or subscribe to newsletters from reliable industry websites to get information in your inbox. Learning as much as you can about business ownership and your industry will help you overcome any problems that get in your way.

5. They know how to lead a team

Even the most ambitious, dedicated and creative franchisees can be let down by one crucial thing: their leadership skills. And as the saying goes, youre only as good as your team. The best franchisees can motivate, inspire and organise their employees and drive the whole unit towards incredible success. If your leadership makes your employees feel anxious, confused or unappreciated, your franchise will never succeed.

Effective franchisees take it upon themselves to get to know each member of staff and understand what motivates them. This will enable them to adjust their leadership style to connect and build relationships with employees based on the needs of each individual.

Most importantly, the most successful franchisees reward their team for their hard work. If your employees put in overtime, always offer great customer service and generally go above and beyond for your business, make sure their efforts are noticed.

6. Theyre willing to work hard

Some people believe that buying into an established franchise system is like getting a fully developed business-in-a-box. While a franchise is a more supported route to owning a business than starting one from scratch, it takes as much dedication, determination and hard work as any other opportunity.

Franchisees that survive the difficult first couple of years as a business owner understand the workload and are prepared to roll up their sleeves and put in the required effort. Owning and operating a franchise often means working long hours, and potentially sacrificing weekends, holidays and precious family time for a while.

7. They know how to switch off

While you wont find successful franchisees slacking during business hours, the best of the bunch know the importance of avoiding burnout. The first few weeks and months of your business will be exceptionally busy, and you might find yourself working into the night and on weekends. But after the adrenaline and excitement of your franchising journey wears off, its just not feasible to be switched on to your business 24/7.

The best franchisees, and the ones that enjoy longevity as a business owner, are able to mentally switch off after a day of working on their business. They work hard, but enjoy plenty of time with family, friends and hobbies too. If you dont look after yourself, you might find that your franchising journey comes to an abrupt end due to ill health, or that you dont enjoy being your own boss as much as you deserve to.

Many successful franchisees choose to employ staff to help with the day-to-day running of their business. Its not necessary with every kind of operation, but if youre running a restaurant franchise or takeaway franchise, youll find it tough to fill every role on your own. By hiring skilled, experienced employees, the best franchisees dont have to do it all themselves and have enough vital downtime.

And if they dont hire staff, successful solo franchisees are great at managing their time and ensuring they arent sat checking their emails at midnight. It is tough to adjust, particularly if youve never been your own boss before, but its a key aspect of success that many people overlook.

A recipe for success

As you can see, many of the top franchisees habits are pretty easy to form yourselffas. If youre committed to really succeeding, its worth spending a bit of time trying to implement as many as you can. Dont get discouraged if you find it tricky at first as they say, it takes (at least) 21 days to form a habit. Ready to start your very own franchise? Find the perfect opportunity from our UK franchise directory.

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