Is a Franchise Right for You?
Have you ever thought about running your own franchise? Every year people buy into successful and lucrative franchises in the hopes of making a career out of it. Some succeed, some fail and that’s just the nature of the game. However, over the years studied and tests have been done to determine what traits are necessary for being a successful franchise owner. Not everyone has the mentality to run a franchise business and it helps to know beforehand if you have what it takes to run a profitable franchise.
At Between Rounds Bakery Sandwich Café we are always looking out for new franchise locations and the right people to run it. Here are a few traits we think franchisees need in order to make it.
- System Oriented – A lot of people are under the impression that free-wheeling entrepreneurs are the best candidates for running a franchise. Actually, the best franchisees often come from structured companies and are adept at working within a system. Franchises have very structured environments and if you are the type that has trouble following the company line then operating a franchise may not be the best option. People who understand that they are part of a bigger picture and can set their ego aside often turn out successful with franchises.
- Judge of Character – A big factor in how successful a franchise will be is the people hired to run it. As a franchise owner you will be responsible for staffing your business and if you are not a good judge of character then you may want to look for another opportunity. Being able to manage diverse personalities and resolving conflicts is very important when it comes to operating a franchise and if you are not good with people this can be a problem. You may have a great location, the lowest prices and an awesome business model but if you can’t count on your staff to perform you will not succeed.
- Proactive – If you are the type that likes to come in late, sit at the desk for a few hours and then leave early you won’t own a franchise very long. Make no mistake running a franchise is not easy. Many owners will spend the first few years doing menial tasks such as cleaning the floors, taking out the garbage and working late shifts in order to get the operation up and running. A franchise requires a proactive leader who can sacrifice ego in the name of success. Being a self-starter and having an optimistic outlook are necessary for operating a successful franchise.