Our area managers report that one of the most frequently asked questions by our franchisees is “What makes a successful franchisee?”. We decided to research this question ourselves and below is our findings.
Examining a sample of our most successful franchisees we found they consistently do a number of things that can be grouped into four key areas:
Firstly, they keep track of information and trends that illustrate how their business is performing. This, of course, means they can use a computer, read spreadsheets and understand figures and they spend time each week tracking their performance against their set objectives.
Secondly, they set achievable goals that keep confidence levels high, are focused and they tend to be slightly competitive by nature. It is said that luck is where preparation meets opportunity. a successful franchisee takes advantage of opportunities to promote and grow their business because they have a vision of what they want to achieve, and where they intend to be, in the long term.
Thirdly, they understand that all the analysis and vision in the world won’t get them anywhere unless they are prepared to work hard and maintain high standards of service delivery. This means they are organised and plan their life so they can sustain the long hours and make the family sacrifices necessary to launch and sustain a successful small business.
Finally, they understand that business is ultimately about people and that unless they gain the support of the people on whom their business depends, they have nothing. This doesn’t just mean customers but also their staff, family, suppliers, franchisee peers and their franchisor.