In part one of this series, we talked in-depth about how to find the right franchisor for you and highlighted the benefits of business ownership in the staffing industry specifically. In part two, let’s talk about what franchisors look for when considering a new franchisee and the importance of finding the right location for growth.
The Ideal Traits for Franchising Success
As a 76 year old business that started franchising 64 years ago to help entrepreneurs run successful staffing businesses, we recognize that finding a candidate that fits the culture of our organization is crucial to establishing a successful franchising relationship. Finding candidates who are enthusiastic about the business and have a long-term vision for growth with a brand goes a long way in ensuring franchisee success from the start.
Beyond vision, there are numerous logistical skills that are essential for running a successful business. Those skills can include finance and accounting, strategic planning, people management, online reputation management and time management skills. In the staffing industry specifically, strong communication skills and a solid sense of ethics are key to success.
Franchisors also conduct thorough discovery processes to help find franchisees who have the necessary traits to grow with the brand. Regardless of industry, franchise discovery days allow franchisors the opportunity to better understand a candidate’s background while giving prospective franchisees a greater opportunity to become familiar with the business they are looking to invest in. Beyond the discovery process, franchisors might also host workshops and meetings to support franchisees as they grow their new business to additional locations or transfer it to a successor.
Finding the Right Place to Grow
Many franchise businesses require a brick-and-mortar location, so finding the perfect place to build your business is essential to your success. Most franchisors help new franchisees select an ideal location that considers factors like traffic counts, accessibility, landmarks and visibility. In most cases, franchise businesses work with the general public, so you want a location that is easy to find, has convenient parking and has neighboring tenants with similar clientele.
Once a successful location is established, franchisees can look towards expansion. Franchisors can provide demographics and sales data for an area to help determine if demand warrants your time and energy expanding with an additional location.
Knowing How to Prepare for Success in Franchising
Aspiring business owners owe it to themselves to explore franchise opportunities. Spend time researching industries that are of interest to you and identify the top brands within that industry. Connect with existing franchise owners and members of the company’s executive team to get a realistic understanding of what it takes to get started. From there, evaluate which brand best aligns with your experience, personal values and your “why.” You’ll likely find that franchise ownership with an established, successful brand like Spherion provides the freedom you’re looking for with more support and less risk.
To learn more about franchising with Spherion, connect with us here.