Distinct Characteristics of Franchisors
1. They have a vision.The are goal oriented as they are people that are
committed to their visions. They are able to articulate their plans in such a
way that their teams are inspired.
2. They listen. They value, understand and acknowledge that many of their
system's most successful ideas come from their franchisees.
3. They understand the business thoroughly.They possess deep intimate
knowledge of their business.
4. They are accessible and are great team builders of all time.They take time to
know their franchisees.Highly skilled 60 seconds networkers.
5. They command respect. They conduct themselves with authority and great
insight.
6. They are coachable and have devoted their lives to learning from experts. If
there are lifetime students in the "university of business", those are
franchisors!
Many people believe franchise ownership is for the true entrepreneur--the type A personality with the confidence to blaze new trails in the business world. The truth is actually quite different.
Franchising is about following a proven system to replicate the success of the original unit that the franchise is based on. Entrepreneurs often create innovative new businesses, but it's the Steady Eddie types that tend to produce most of the success in franchises.
The ability and willingness to follow directions is a key marker of someone who would make a good franchisee. After all, if the franchisor has already established a franchise model that works, a person would be wasting time if he tried to fight the system and create something different.
Besides the ability to follow a system, there are a number of other personality traits common to most successful franchisees