Does it frustrate you when a franchisee consistently underperforms? If you’re like most franchisors, then the answer is probably yes. Underperformance doesn’t just affect the franchise financially; it can also be a drag on people and time resources as well.
When discussing franchise recruitment and sales, we often refer to “fit” and “compatibility.” Both elements play a crucial role in bringing on top-performing candidates and can be a big factor in why one franchisee is successful over another.
Do you feel like you’re guessing trying to identify the best franchisee candidates to bring into your system? How much money does it cost you to onboard and support lower-performing franchisees?
Instinct can be an important part in bringing in good candidates, but without a systematic and scientific process in place, it can be easy to still let underperformers into the system. When you lose a franchisee to underperformance, you lose out on more than just the long-term royalty payments. Consider the cost of recruiting that candidate, onboarding and training that individual. Plus, if there was a referral fee for the lead or additional training and support costs to try to bring that franchisee up to speed, you must account for those costs as well.
There are a few different options available to help franchise development departments recruit for fit and compatibility, including Proven Match. Take a demo of our behavioral assessment here, or contact us today to set up a demo.
Learn more about the process of identifying and building your ideal franchisee profile. We’ll introduce you to the behavioral assessment and how we screen for compatibility specifically for the franchise industry.