The characteristics of a successful franchisee

One of the first steps you'll make when considering investing in a franchise is deciding whether or not the business model is going to suit you, your needs and the needs of those around you.

The characteristics of a successful franchisee

One of the first steps you’ll make when considering investing in a franchise is deciding whether or not the business model is going to suit you, your needs and the needs of those around you. And, whilst franchising has proven to have a far higher success rate than simply starting an independent business from scratch, it still takes a certain kind of person to run a franchise. 

In the almost 12 months that Justin Nihiser has been at the helm of the kids coding franchise, Code Ninjas, more than 15 UK franchisees have joined – all of whom were vetted and evaluated by Justin himself, before they were welcomed into the network. With his 13 years in franchising, it’s fair to say that he knows a thing or two about what it takes to be a franchisee! So, here’s Justin’s thoughts on the five characteristics needed to be a successful franchisee. 

Decisiveness

One of the most common misconceptions about franchising is that, by investing, you’re buying a business in a box. Whilst a franchise is a great opportunity for a rewarding career, you’re not buying a 9-5 job. Any credible franchisor will equip its franchisees with a framework and guidance on how to run the business, they won’t be there every step of the way, telling you which decisions to make or how to solve the minor mishaps that come with being a business owner. 

As a franchisee, this responsibility remains with you. So be prepared to make daily decisions for the benefit of your specific franchise. If you have a problem with deciding what to have for dinner every night, then a franchise probably isn’t for you. 

Leadership

Those that excel in franchising are usually successful leaders – someone influential in other aspects of their life with excellent communication skills. Very few franchise models are run by the franchisee alone, meaning you will need to employ a team to deliver your service. You will either need experience in leading people or have the necessary leadership skills – like communication and empathy – to lead and motivate the people in your business. 

Resilience

This is one of the most crucial characteristics of anyone launching a business – whether a franchise or an independent enterprise. Rome wasn’t built in a day so, no matter how established or successful the franchise brand you invest in is, it will take some time to see a considerable profit from your venture. A franchisee who can keep expectations realistic will have an advantage over others who may not be patient enough to keep investing the effort needed to see profits and success.

Collaborative 

It’s important that franchise prospects understand that franchising is not an independent enterprise. A major factor of your franchise agreement will require you to follow a strict set of business guidelines that have been formulated by the franchisor and followed by every other franchisee in the network. Whilst you will be running your own business, uniformity across the brand is imperative, so service users know what to expect at any location – whether that’s Code Ninjas Edinburgh or Code Ninjas Eastleigh. 

As a franchisee, there’s so much value in relying on the advice of the other franchisees in your network, so respecting their hard work by following the guidelines and collaborating for the benefit of each other is paramount. 

Passion

Going above and beyond to make your business successful is something that all accomplished entrepreneurs share – that dedication stems from a passion for your product or service. But don’t confuse experience with passion. Whilst the majority of our franchise network have come from digital technology or education backgrounds, some have come from completely different fields. One common goal unifies them – inspiring the innovators of tomorrow. Without this belief in the fundamental benefits of your product or service offering, you’re unlikely to enjoy running your business day-in day-out – which is key to success. 

Do you embody these five characteristics? If so, franchising could be the perfect option for you. 

ABOUT THE AUTHOR
Justin Nihiser
Justin Nihiser
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