Do you have what it takes to succeed in the franchise world?
Franchisees who experience the greatest level of success and fulfillment in their business are those that choose a business venture that coordinates with their true personalities. See how you match up to these top 5 personality traits of successful franchise owners.
- Strong Work Ethic – For your franchise business to reach its full potential, it must have a strong business model, and the franchisee must have a strong work ethic. Running a franchise business is hard work. The owner must be committed to following the franchise model and delivering exceptional customer service, especially in the first year. If the franchise organization has a strong business model, you will be successful, but it is up to you to make this happen.
- Financially Stable – Successful franchise owners know how much they can invest, how much they are willing to risk, and how much they need for living expenses until their franchise is turning a profit. Before buying a franchise, make sure you have enough money. A good franchise organization should offer accounting and bookkeeping training in addition to ongoing support. *Remember to look for a scalable business opportunity – a low-cost franchise opportunity that can provide you with more money to fund the operational items that drive sales and cash flow.
- Coachable – If you’re looking to open a franchise it’s probably because you are entrepreneurial, but starting from scratch sounds a bit intimidating, right? There is comfort in knowing you can have the dream of business ownership while being a part of a brand with a proven system and process. Choose a franchise organization that is invested in your success by making sure you have the proper tools and resources needed to help your franchise grow. The most significant reward in owning a franchise business is the franchisor’s industry business experience, so don’t be afraid to ask for advice or to reach out for help as your business grows. *If you’re new to the industry (or not), look for a franchise organization with a comprehensive training program.
- Trustworthy – You do the research to find the perfect franchise fit, but before signing franchise agreements, the franchisor wants to make sure you are the most qualified franchisee to represent the brand. Have an open and clear understanding of your goals, and the franchisor should be honest and upfront about what it will take to reach your goals. This type of communication should not end at the initial meet and greet but carried on throughout your time as an owner. Communication and a healthy franchisor-franchisee relationship is the foundation of a successful franchise business. Franchisors want to know they are awarding a franchise to someone they can trust to execute the brand they have spent years developing and perfecting. *Attend a “Meet the Team” day at franchise headquarters and talk to other franchise owners.
- Passionate – Sharing your passion for the brand and the business starts with understanding and relating to the core values and culture as the franchise organization. Doing what you love and living with passion is guaranteed to give you fulfillment and joy in everything you do and is something that will never go unnoticed by your customers.
“Give franchisees the support they need to be successful on an individual level and keep the focus on their success,” said Stewart C. Vernon, Founder and CEO of ASP – America’s Swimming Pool Company.
At ASP, our goal is to help you go into business for yourself and reach your full potential as a business owner. We want to see you grow beyond your expectations!
Want to find out if you’re a perfect match for our nationally recognized and award-winning franchise organization? Click Yes to fill out a short form, or if you would like to learn more about us, click Not Sure to be directed to the ASP Learning Center.