10 Tips for Selecting the Best Franchisees
10 Tips for Selecting the Best Franchisees
Here are our tips for selecting the best franchise candidates for your organization:
1. Conduct credit and background checks; investigate any red flags.
2. Be thorough when checking references.
3. Require a business or marketing plan to gauge the level of knowledge and expertise.
4. Reject candidates who don't fit the personality profile and list of qualifications you're looking for.
5. Have diverse staff members interview candidates, not just the franchise sales personnel.
6. Field staff should meet and interview candidates before completing the process.
7. Never rush to close a sale.
8. Don't grant more territory or other considerations to close a sale.
9. Choose candidates who are active and able to network in their communities.
10. Look at current affiliations with professional and community service organizations.
10 Tips for Selecting the Best Franchisees - To learn more about this author, visit Mary Tomzack's Website.
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Companies franchise because it's a great way to build an organization, expand markets, and leverage growth beyond their capital limitations. Fast growth can be exciting but, too often, adding to the unit roster becomes a matter of quantity rather than quality. Successful franchisors know that being picky about who is allowed to buy a franchise is vitally important to the ultimate health of the company. It's important to find qualified, competent franchisees who can and will promote the brand, add value to the organization, boost the unit success rate, and increase revenues and market penetration.
Here are our tips for selecting the best franchise candidates for your organization:
1. Conduct credit and background checks; investigate any red flags.
2. Be thorough when checking references.
3. Require a business or marketing plan to gauge the level of knowledge and expertise.
4. Reject candidates who don't fit the personality profile and list of qualifications you're looking for.
5. Have diverse staff members interview candidates, not just the franchise sales personnel.
6. Field staff should meet and interview candidates before completing the process.
7. Never rush to close a sale.
8. Don't grant more territory or other considerations to close a sale.
9. Choose candidates who are active and able to network in their communities.
10. Look at current affiliations with professional and community service organizations.
10 Tips for Selecting the Best Franchisees - To learn more about this author, visit Mary Tomzack's Website.
Like this article? Share it with your friends
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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