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How to Ensure a Good Fit for You in a Franchise

By: Jania Bailey

 

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While inquiring about how to ensure a good fit for each candidate might seem like an obvious FranNet consideration, there is a clear cut reason why some franchisees fail to achieve real success in the world of entrepreneurship. As a potential franchisee looking to join up with a successful brand and system, you know that you need to be the right fit for the right opportunity…but how can you ensure it? Today, we’ll explore a few pointers that you’ll want to take to heart.

We never fail to require our clients to do their due diligence. In doing so, we try to advocate careful consideration during our process in matching the right person to the right opportunity. However, while we act as the primary guide on your journey, it is the potential franchisee who must ultimately take responsibility for the choices and decisions which come during the process. Is it possible to over simplify the process? We certainly don’t think so.

The Crossroads of Passion and Opportunity (oh, and Roadblocks)

It may seem obvious that a potential franchisee is advised to get behind a product or service that drives a passion within them. You may love to eat sandwiches, but that may not mean that you’re cut out to dish out cold cuts on a daily basis.

We like to ask our clients, “What do you feel really passionate about?” To us, the answer can be as broad or as defined as need be. A typical example we might hear from clients is that they have a passion for helping others. Drilling down further, they might indicate this passion extends to healthy living and lifestyles. And who knows? They might even have had a previous career as a personal trainer. To the candidate, a franchise opportunity in the health and wellness category would seem like a likely fit, right? Before we would advocate they run and purchase a gym franchise, FranNet is thinking and asking about the following:

Does this candidate have the necessary interpersonal skills to manage people and attract wellness clients? Is their passion for a certain product or industry clouding their judgment? Do they have the necessary capital to invest in their business on an ongoing basis? Does their lifestyle fit the business?

Hopefully, you can see where this conversation is going. As a franchisee candidate, you’re going to have to know yourself and be prepared for a complete and honest personal assessment during the process. If not, you could risk a business-killing roadblock like the examples listed above. Be gratuitous in your thinking and don’t be afraid to share real concerns about any shortcomings of your own.

At FranNet, we’ll help turn these concerns into solutions and illuminate just the right path for your personal success. While there are thousands of franchise concepts, there are also many franchise business models. In order to succeed, you’ll need to get both of these decisions right. Thankfully, that’s what we specialize in!

This article was originally published by FranNet

Published: September 24, 2014
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Jania Bailey

Jania Bailey is president/COO of FranNet, North America’s most well-respected franchise consulting firm. Bailey sits on the board of directors for the International Franchise Association (IFA) and is a certified franchise expert. Her background includes over 25 years experience in the banking and franchise industries.  Bailey also authored the book, “Thriving – The Journey to Success in the Business World.” 

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