Finding Franchisees to join your brand and network is central to growth and success.
Your initial franchisees (often referred to as “Foundation Franchisees”) are usually the first 5 to 10 that you plan to get up and running in the first year or so. These franchisees are your most important. If they are successful you will continue to grow and it will be easier to sell future franchises. If they fail, growth will stall and often disputes will arise.
SELECTING THE RIGHT FRANCHISEES IS CRITICAL
CEO Consulting will help you profile the ideal Franchisee – we will look at existing people in your business and identify what makes them good for your business. What characteristics, skills and personality types….and what motivates them to do well? We will also identify negative profiles – people to avoid and then identify appropriate recruitment strategy options & costs.
There are 4 ways to recruit Franchisees:
- Employ an internal manager to recruit
- DIY – you advertise and handle all enquiries & interviews
- Screening assistance – you generate the enquires but get a professional to screen
- Full service professional – handles all lead generation, screening & interviews
Selection of the strategy is a function of skills, time and budgets as top end services can cost around $20,000 on a success fee basis. Equally, trying to DIY can burn a lot of time that is better spent elsewhere; may not attract quality candidates or may result in lower conversion rates.
CEO Consulting will help you understand the options and can assist with both internal and outsourced programs to ensure you have a recruitment strategy that fits your budget. To keep your costs down we are able to train you in franchisee recruitment techniques, coach you on legal and marketing aspects of recruitment and provide support to you as you run your own recruitment program. Not only will this save you money but in many cases it is better than outsourcing recruitment because potential buyers always want to deal with the franchise owners rather than intermediaries. Early in the process they want to assess who is behnd the business and build a relationship with you.