Profile of a Successful Franchise Owner

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asked about 10 months ago

The franchise model is great for business success but doesn’t guarantee it. The best franchisee on paper isn’t the best franchisee in real life. So who is the perfect franchisee?

While the franchise business model is one of the most successful business models around, some think of it as a turnkey, all-in-one package that almost guarantees success. And while there is a high rate of success when you compare new franchise businesses to new start-ups, not everyone who has the desire to be their own boss will be the ideal franchisee candidate.

So, what is it that makes some people fly with franchising and other’s fall? Well, franchising expert Derek Cafferata from All State Franchise Finders explains what he believes to be the profile of a successful franchise owner.

Not Your Typical Entrepreneur

“This is probably the most common misconception of what makes the ideal franchise owner,” says Derek Cafferata. “ A true entrepreneur probably isn’t your best candidate when looking for the perfect franchisee.”

An entrepreneur tends to like to do things their own way. Their self-confidence, ego and drive to create their own business doesn’t usually fit smoothly into the franchise model.

The benefit of buying a franchise is that someone else, often with more experience, knowledge and proven success than you has already set up the business with systems and rules in place.

“An entrepreneur should be a business owner, ideally in business under their own set-up,” says Derek. “They can become ideal franchisors, but we generally find they don’t make for ideal franchisees.”

A successful franchisee will enjoy working within clearly defined systems and guidelines, with a focus to replicate the success of the core business model. If the system is working, they will find no need to improve on it. They will simply have the desire to multiply on this, not re-create it.

Successful marketers, operations managers and veterans often make for a successful franchise owner.

High Energy and Drive

A franchise owner requires high energy and drive. According to Derek, “He or she will be goal oriented and thrive on discipline and improving on their results. Working hard and making some short-term sacrifices for long-term gain will be part of the job.”

Providing the best customer service will be their main drive and focus. “I have found the best franchisee is one who understands that business, no matter what you are selling or the service you provide, is about people,” says Derek. “Customer satisfaction is paramount.”

Leader and Team Player

A successful franchise owner will be able to lead confidently, clearly and efficiently. “They will have the right balance of that business-owner mentality combined with the ability to work within the parameters of the particular franchise model,” says Derek.

One of the positive concepts of the franchise business model is that franchisees get to have a certain amount of autonomy, growing and developing their business into something successful, while working within the supportive framework of the marketing, training and management systems of the chosen franchise.

Expert Franchising Advice from All State Franchise Finders

Derek Cafferata and his team at All State Franchise Finders are experienced in vetting potential franchisees for more than 250 of the top franchises in the U.S. With more than 30 years’ experience in the franchising industry throughout the U.S. and around the world, Derek is considered a leading franchising expert.

For those who are looking for the ideal franchise candidate, or those who are wondering if becoming a franchise owner is for them, then contact the team at All State Franchise Finders on 1-800-544-2161 or visit allstateff.com today. All State Franchise Finders – Your Franchising Experts!