PROPERTY FRANCHISES
In many ways , choosing to become a franchisee should be compared to finding your soul mate . It ’ s a longterm partnership where both franchisee and franchisor can win . But just like any long-term relationship , it may have a rocky start as both partners try to find their place in the union .
FINDING MR ( OR MRS ) RIGHT
Just like franchisees want to find the perfect franchise to match their own skills and passions , the franchisor needs to assess franchisees for their fitness to run a business before embarking on a lifelong journey of give and take . I am regularly approached by a variety of potential franchisees and must sift through them to find the candidates that will make a perfect match . This is a difficult phase because we look for someone who is a leader , a good salesperson and has exceptional operational skills . The challenge is that good leaders are often entrepreneurial mavericks . They can ’ t help but clash with the need for them to align with the franchised business ’ rules and boundaries .
RESPECT BOUNDARIES
There are many important aspects that contribute to a perfect partnership . One of those aspects is setting boundaries right up front and sticking to them . Successful franchises are built on consistency . Customers learn to trust that consistency . It is so important for all the franchisees to know the boundaries and respect them . Just a small example , a chicken franchisee who decides to buy his chicken at a different supplier may still be producing delicious chicken ,
186 AUGUST 2022 SA Real Estate Investor Magazine