Needless to say, the right franchisee is crucial; however, even the best run organisations still get it wrong sometimes.
What you can do, is make sure that you listen to those with the knowledge and then implement the correct processes to ensure that you limit your exposure.
By following the franchise recruitment process, you will limit your liabilities and create a good working relationship with your new business partners, your franchisees.
The first piece of advice:
DO NOT TRY AND HARD SELL FRANCHISES -
it is unethical and not sustainable
It is important that you create a culture throughout your company of “we recruit franchisees” and not “we sell franchises”
This cultural approach alone will assist you in finding the right people. The fact that you need to gain growth to exist, should not deter you from following the process. In other words, you must never be desperate. Those companies that do not adopt the right culture, only face disputes and possible financial consequences down the track.
People are well informed these days and they want to know that you are ethical, reliable and are the best in your field at whatever you do. They will buy you first and then they will buy the business. People that buy the business know that they are taking their own risks under the guidance of experienced operators.
At Marketminds, we can provide you with a manual to run your franchisee recruitment which will include:
- Franchisee recruitment promotional planning
- The process including legal documentation handling
- Monitoring and measuring your enquiries
- Interview processes
- Appraisal processes
- Franchisee profiling
- Handling enquiries
- Due diligence
- Full documentation including:
- Application Forms
- Assetss and Liabilities
- Confidentiality Forms
With many years of practical experience Marketminds can confidently show you the way to a safe passage and management of franchisee recruitment.