8 Traits of Successful Franchisees
Many people believe franchise ownership is for the classic entrepreneur – the type A personality with the desire to blaze new trails in the business world. The truth is actually quite different.
Franchising is all about following a proven system in order to replicate the success of the original business. That's why "Steady Eddy" types who are willing to trust the system make better (and happier) owners than "disrupter" types with independent streaks.
Besides the ability to follow a system, there are eight personality traits common to most successful franchisees. You can determine whether franchising is right for you based on whether you see yourself in these descriptions:
1. Motivated by Results
You're known to: Focus on production ∙ Create benchmarks ∙ Meet goals ∙ Evaluate results
You understand that action is not achievement. You revere the value of benchmarks and are always evaluating the process in order to achieve results. If a certain course isn't working to meet goals – you immediately change the plan to find an approach that will work better for you.
2. Big Thinker
You're known to: Imagine the future ∙ Recognize necessary tasks
You know that even though working long hours or doing a dirty job may not be the ideal situation at the moment, it will pay off in the long run. You imagine the possibilities for the future as a long-term result that motivates the day-to-day activities. You keep your eye on the prize.
3. Chief Cheerleader
You're known to: Make business happen ∙ Care about success ∙ Recognize efforts
Sitting back and expecting business to just come to you is not your game plan. You're always out there stumping, and you recognize others who exhibit a similar work ethic.
You're known to: Look forward ∙ Create solutions ∙ Stay positive
You always call the glass half-full. Solutions and opportunities are more obvious to you than problems or hindrances. You take care of problems by solving them instead of wasting time on how they happened.
5. People Person
You're known to: Relate to clients ∙ Keep good morale ∙ Succeed at networking ∙ Be a voice in the community
You are quick to understand that regardless of what business you're in, customers and employees are always the most important thing for achieving success. Building relationships and keeping in good graces comes naturally for you.
6. Seatbelt Enthusiast
You're known to: Like direction ∙ Want a safety net
You take grand precautions in your everyday life. You always look to mitigate the risks involved in activity and want a proven track record in what you participate in. You're not blazing trails while running with scissors – you want security.
You're known to: Trust in the future ∙ Keep setbacks in perspective
You can't be held down in pessimism. Challenges excite you and you know that things will always get better. You keep bouncing back strong from adversity.
8. Cool and Collected
You're known to: Stay Consistent ∙ Keep Composure ∙ Address Issues
You know what is happening around you, but don't panic or cause a scene. Focusing on the essential and important tasks keeps you unruffled and gives your customers and employees peace.
While franchising may not be for everyone, it can be an ideal situation for the right person. These personality traits -- in addition to sufficient financial backing and proper business experience -- are essential to succeeding in the franchising world. If you see yourself in the above descriptions, chances are that you have the confidence, drive and motivation to be a successful franchise business owner.