Creating a stronger franchise system starts with the recruitment and selection process of new franchisees. Finding and recruiting top franchisees specific to your business model doesn’t have to be based on gut feelings or guesses by your team. Rather, franchise assessment tools are bringing clarity and consistency to the franchise recruitment and selection process.
Identifying those individuals who are most likely to succeed is more than looking at their age, net worth, education and income. What other areas should you focus on before onboarding a new franchisee?
Over the next few weeks we’ll be taking a look at five key elements that you should include in your franchisee qualification process, beginning with values and motives.
Understanding the Value System
The way in which we are motivated and make decisions is based on our individual value system. Within our value system are the particular set of beliefs, morals, ethics, etc. that we adhere to. The way in which we spend time, money and energy is in direct relationship to our hierarchy of values.
Think about the last time you had to make an important decision, for example. Your decision making process, why you chose one thing over another, was dictated by your specific set of values. And when you’ve made a decision that does not align with your values, you know it. It doesn’t feel natural or “right.”
From a business perspective, what are the core values of your company? What values do your top-performing franchisees have in common? If a prospective franchisee’s values do not align with the core values of your company, how does that effect their “fit” within your system?
It has been established that it is an individual’s personal value system, which directly dictates motivations. Furthermore, motives are the only true predictors of behavior and performance. So understanding what a prospective candidate values and the motives driving their decisions can be very telling as to how that candidate will “fit” in your system.
Define what the candidate’s driving factors are for wanting to be a franchise business owner. Do they want to be with family more? Are they looking for more security? Are they driven by achievement or respect?
If you know these pieces of their profile, not only can it help you determine “fit,” but it can also assist you in better communicating your message. If your business model can provide for these needs, then here is an opportunity to articulate how and why your business can meet those specific needs.
For Example …
When speaking with a candidate you may find that the individual aspires to be an influencer and is excited by innovation and new ideas. If so, a startup franchise or a cause-based business opportunity where they can make their mark on the business and community may be best suited for that candidate.
On the other hand, an individual that values stability and security may find success in a mature brand with its firmly established processes and procedures.
We all have different needs and wants in business. First understand your company’s values. Then, determine the commonalities of those values among your top-performing franchisees in your system. Use this information as a benchmark when working with new franchisee candidates.
To read Part Two, click here.
To read Part Three, click here.