Skip to main content

How to Select the Right Franchisee?

If you have made up your mind about franchising, you might be wondering how to select the right franchisee. This can often be a tedious process — much like dating — where you have a lot of options but do not know which one to pick. 

Here is how you should go about picking your franchisee:




Step 1: Start a Formal Process

It is nice to have a formal initialized process so that you can keep track of what you are going through at all times. If your business does not have a website yet, I urge you to spend quality time and build a website (it will be useful for marketing later on as well). On your website, you should have a section where you talk about franchising and have a formal process laid out for it.

Step 2: Firm Description

I know this sounds absurd that I am asking you to think about what you do. You might be thinking, ‘Ahh, of course, I know what I do, why is he asking me to think about it?’. Yes, you do know what you do, but you need to be able to convey it as accurately as possible so that your franchisee knows you do — precisely. One of the reasons business owners end up choosing the wrong franchisees is that the franchisee misinterprets what the business is about, and this has serious consequences. You want to protect your brand name, image and culture, so make sure you spend worthwhile time thinking about portraying it the right way. You should then upload your description in your website.

Step 3: Advertise

Now that you have spent time describing what you do on your beautiful website, you want to ensure that people know about you — only then you will have more options to pick your right franchisee. In this case, the more the candidates, the better it is. By advertising the fact that you are franchising, your brand’s name will be out there, and more people will know about you, and hopefully apply to be a franchisee. An easy way to advertise would be to hire a consultant to do the same for you. SelectDine advertises your brand for free until you receive a customer! Be sure to check them out, as their help will yield you insane results in your advertising endeavors.

Step 4: Be Selective

After you receive a list of franchisees to choose from, I encourage you to be as selective as possible. Your primary filters should be to screen for criminal records and whether or not the franchisee is financially adept to expand your brand. Negativity in any of these two aspects could be disastrous to your brand, and remember that you want to protect your brand name, image, and culture at all costs. After an initial filter, you should look for ‘fit’. What I mean by ‘fit’ is that your franchisee should a person who represents your brand’s name, image, and culture well. You do not want your franchisee to get your business a bad reputation. Have multiple rounds of interviews if you wish to talk to franchisees more but you should ensure that this franchisee will be a good representation of your brand.

I wish you the best in this process. If you find this process perplexing, be sure to reach out to SelectDine, who specialize in making this process easier for you!

Comments

Popular posts from this blog

How to Safeguard Franchise Fraud

The case of buying, owning, and operating a franchise can seem quite compelling: You, at least in a sense, own your own business, but you are not alone during the operation. The product or service has already been fully developed; it's simply up to you to offer the product or service on your own terms.
There are people out there offering fraudulent opportunities; and while you may think that it could never happen to you, fraudsters are getting more sophisticated in their methods of deception. What is Franchise Fraud?Common forms of franchise fraud include misleading and fraudulent sales practices used to entice prospective franchisees to purchase and invest in a franchise. Misleading sales tactics can come in many forms. One of the more common forms of fraud in the franchise arena is the making of false or misleading statements about projected financial performance. It is, in fact, unlawful for a franchiser to provide any representations of potential or actual financial performance…

Own The Pulao Bowl in 10 Lakhs

The Pulao Bowl is a premium brand which is currently franchising in India. The Pulao Bowl headquartered in Hyderabad was established in 2017 and since then operates ten outlets across India. The Pulao Bowl has various types of outlets that you can open if you choose to invest, which includes both sit-down and quick service models.

The brand additionally offers operating manuals, expert guidance from head office, billing systems, and on-field assistance for the franchisee. Offering a high-profit margin at a low investment cost along with excellent support, you can own The Pulao Bowl in 10 lakhs, should you choose to invest.

To know more about this brand’s investment details, visit our website.

How to start a Restaurant?

At this point, I am guessing that you want to open a restaurant — and you have opened multiple tabs on Google that answer this question, asked questions on Reddit and Quora and are trying every bit to make sure you can gain as much information possible in a limited amount of time. I assure you, you can stop here. Here is everything you need to know about starting a restaurant/café in India. Without further ado, let’s dive right into what we will be looking over in this article. Step 1: Develop an IdeaYou need to have an idea of what you want to be doing. Are you going to start a sit-down restaurant? Are you going to start A café? Or, are you going to start a fast food joint? Alternatively, are you thinking about a specific type of cuisine? Maybe you like Italian cuisine but feel that the Mexican cuisine might run a better business. Perhaps, you just want to offer Indian cuisine — that is totally fine, but you need an idea. These are just some general ideas to get started with before pr…