The Top Four Traits of Successful Franchisee Owners

Written by Jim Otto

As a franchisor we are constantly looking for people who have the right qualities to make successful franchisees. Without certain business skills and the desire to succeed and work hard, your chance of owning a successful franchise operation is greatly diminished. We have identified the following four traits as MUST haves:

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Your Employees Have To Have These Two Things

Written by Jim Otto

Every business wants to build the dream team with their employees. The way to do that is to find someone who has these two qualities! Let us help you nail down those two personality traits that will take your business to the top!

When you buy a franchise there are lots of things that the franchisor will teach you. The systems that a franchise has and how well you follow those systems may ultimately be the difference between your success or failure. One area that you will have the most control over is your staff and employees. Your franchisor will help you with build-out, initial and on-going training support, marketing, even guidance on getting to break even and beyond, but you will have to manage your staff. Your Human capital is one of the most vital parts of your franchise operations for a number of reasons. Your employees deliver your product, they are the face of your business, they create the fabulous experience that brings your customers coming back, they create those little interactions that make your customers think, " Wow, this company really gets me". Developing a great staff doesn't happen over night, it takes time. Additionally, if your new hires don't have the following two attributes, getting your franchise to where you want it to be is going to take longer than planned. 

* A Work Ethic -  You can't teach someone to have a work ethic. Work ethic is a tricky thing, some people have it out of need, they have a family and need to support and provide for their family. Some people learned it from there parents and are modeling it. But one thing is for sure, if you are going to put together a great team, having employees with a good work ethic is critical. 

* Attitude - I have heard people say, "That person needs an attitude adjustment”, and you know I have seen that work, but only on a temporary basis. You know what behavioral psychologists will tell you, past behavior is the best predictor of future behavior. Companies spend a great deal of time and money working with and trying to fix people with bad attitudes. Find people with a good attitude about your company right from the beginning, nurture and train them, show them there valued, and your people will work together as a team. 

Getting your staff to work together as a team to create a fantastic customer experience is crucial to your franchises success. During the interview process you can ask questions that will give you clues on whether your candidate has these two important attributes. You are going get to where you want to go a lot faster if you can find candidates that have these two attributes. 

 

Make a Positive Difference TODAY

Shear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons. We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and business success), and have sometimes seen the unexpected happen! When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

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The TWO Most Important Words in Franchising

Written by Jim Otto

When starting your business, you have to think about about a lot of different components. But when it comes to specifically, what your business is going to and who is going to be your target market, you need to get very specific.

When you buy a franchise you may think that you know who your customer will be, "women, between the age of 22 and 44".  However, if you want to have a really successful franchise business you have to go a lot further then that. You have to know your Core Customer, and then you have to Zero in on them. 

Create a vivid picture in your head of what your most valuable customer looks like and keep this virtual person clearly in your mind. Define that customer in a "who" statement, a who statement is designed to create a clear, defined and definitive picture of who your core customer is. 

As an example if you were wanting to own a chain of high end tanning salons your who statement may read something like; An image-conscious single women who wants to look and feel better with little investment in time and money. 

By clearly defining Who your core customer is, you can now turn to the all important subject of What your business does.  Knowing your Core Customer and zeroing in on them is the real difference between owning an average location or one that sets the pace for the system! 

Make a Positive Difference TODAY

Shear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care). We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and business success), and have sometimes seen the unexpected happen! When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

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Here Are The 3 Things That are Gonna Happen When You Buy a Franchise

Written by Jim Otto

There are 3 Phases that will bring your franchise to the moon, around it, and back home! We are here to let you know what those 3 phases are, what to expect, and how to navigate these waters as new owner.

When you open your franchise there are three things that are going to happen. I have done it myself, and have talked to a lot of others who have opened franchises. I can't tell exactly how long each one of these three things is going to take, only that they are going to happen. They are going to happen a little differently depending on your franchisors training and the concept that you bought into. But they are going to happen. 

Phase One: People - You’re going to spend a lot of time looking for the right people. In today's tight labor market finding the right people is a big challenge. It can take six to nine months to get a set staff, and sometimes longer. The people that you think are going to stay don't, and the ones you may not see potential at first may be the ones who rise to the top. As they say, can't "pull the wagon" without the right team. And your team delivers your product. 

- Phase Two: Learning - The second month should be focused on a better understanding of the systems and processes. Yes, I know what you’re thinking; the franchisor taught me all the systems during training! The best analogy I can give you is the Astronauts that went up in Apollo 13 trained for two years for their mission. They had prepared for every type of scenario except for the type of explosion that happened and how to replace the oxygen filter to get back to earth. But together with mission control (your franchisor) they figured it out and got home safely. In business we call that "mission accomplished"

- Phase Three: Implementation - After the first 60 to 90 days you will have the real world knowledge of running your franchise. You will begin to find out why the franchisor does things the way they do and why they taught you to do it that way during training.  Over time you will start to see your momentum building and the future you are building start to come into focus. 

Building a successful business takes time and a franchise is no exception to that. However your ramp up time should be a lot faster with a franchise, and having "Mission Control" to guide you is a big reason why franchising has become such a successful avenue to business ownership!

 

To Infinity and BEYOND!

Shear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and business success), and have sometimes seen the unexpected happen! When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

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This is What You Need to Succeed as a Franchise Owner

Written by Jim Otto

What makes you the perfect franchise owner? Is it your business degree? Previous experience owning a business? Your people skills? All are great qualities, but being a SUCCESSFUL franchise owner takes something a little different that just might surprise you!

 I was recently looking through a research report about what types of people make the best franchisees. The answer may surprise you, although intelligence, business skill, and former experience as a business owner are highly valuable characteristics. However, the fact that you have an MBA did not get you to the top. Neither did the fact that you may have been a CEO of a fortune 500 company. Instead, the report listed Sales Executives as the top candidates to become successful franchisees. 

As I began to examine their reasoning, I saw that Sales Executives have the following traits:

  • In a way Sales Executives are already small business owners. They believe in their product and have to go out everyday and sell it. In addition they understand that they are paid to produce, unlike people who have been on a salary there whole life. 
  • Sales Executives don't cower when times get tough. To anyone who has lived on commission you know the sales cycle can be brutal. However, you conquer these cycles by working harder when needed - always believing that things will get better. 
  • Most of all, Sales Executives relish the thought of unlimited earnings potential. It's what motivates them to get out of bed everyday. 

What the article failed to mention was one other thing that is consistent with all great franchise owners. Great franchisees understand that they are not in the product or service business; they are in the Relationship business. Building a relationship with your customers where they understand the purpose of your business, and building relationships with your employees so that they can deliver that good or service to those customers, is the key to great franchisee success!

 

Success is in YOUR Future!

Shear Madness Franchising franchises our award-winning Shear Madness Haircuts for Kids salons  (FranCompare™ Best in Child Hair Care 2018). We have worked with franchise stores in providing franchisee support (in order to encourage continual growth and business success), and have sometimes seen the unexpected happen! When it does, we help by identifying and helping with challenges that might arise for franchisees. Additionally, we work to present options that can help prevent these events as well. As many franchise owners may not have opened a business before, having someone who can advise them is a significant advantage of franchise ownership!

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