The Traits of Successful Franchisees

Published on November 28, 2016

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Buying a franchise is a great opportunity for someone who fits the model of a successful franchisee. Not all people have these traits and the classic entrepreneur, or trailblazer, might not be the best fit. Franchising is about following a system. If you’re investing into a healthy franchise they have a proven system that works and are replicating that original business success. But, not all franchises have a proven system. Be careful when investing and make sure you buy the best franchise for you.

If you are asking yourself “Is franchising right for me?”, here are the traits of successful franchisees:

People Person

Running any business requires you to work with employees and customers. Knowing how to handle complaints and build lasting, trusting relationships is key to growing a successful business.

Resilient

Growing a business takes time. Even though a franchise has the support, most new locations are opened in different cities or counties. It takes time to build a customer base and reputation.

Proud

A sense of pride is key. Proud franchise owners work hard and believe in their ability to create a successful enterprise.

Passion

A drive for the type of business you own is key whether it’s a passion for fitness or food. A great franchisee has a passion for the type of business they own.

Results Oriented

Great franchisees are driven by results. Measuring and tracking your costs and profit are key to squeezing out every penny of profit on your business.

Competitive

There’s a drive to outperform other franchisees in your system. Healthy competition is great to motivate and push you harder to succeed.

Humility

Sometimes you don’t know what you don’t know. Being willing to learn and adapt how you manage your business is key to long term success. Taking lessons from the franchisor or other franchisees will help you grow your business.

Optimism

A glass half-full type of person will be more successful than a pessimist. Problem will arise in your business. Being able to take a positive approach to fixing them will help you build a better business.

Composure

Things will get out of hand at times. Employees will quit, equipment will break and home life may get tough because of the long hours you put in. Staying composed is critical when times get tough.

Buying a franchise might not be for everyone but it is a great opportunity for the right person. These traits are what makes a franchisee great. If the above traits describe you, then you have what it takes to be a successful franchisee. Just make sure you find the best franchise for you. Do your homework and focus on finding a franchise that you can make money in. These traits are important, but they may not be enough to overcome a bad investment.

About the Author: Jeff Lefler
As the CEO of FranchiseGrade.com, Jeff understands that there is no Silver Bullet or sure-fire, simple way to pick a guaranteed franchise system winner. However, by using a little science and a lot of hard work, Jeff and the team at FranchiseGrade.com have developed a sophisticated research, analysis and comparison model to help potential investors and existing Franchisees assess a realistic value for any franchise system relative to others. It's called a Franchise Grade. With over fifteen years of small business experience and ten working in franchising as a multi-unit Franchisee, consultant and Franchisee Association President, Jeff has a good understanding of the level of hard work, dedication and commitment that drives a successful franchise system. As part of his ongoing involvement with the industry, Jeff also served as a Member of the Strategic Committee of the International Association of Franchisees and Dealers. Get in touch with Jeff to see how your system measures up at jeff.lefler@franchisegrade.com.


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