Freedom of choice is a powerful element in pursuing a career in franchising. You can choose the industry you want to enter, the ownership model you wish to pursue, the brands you want to consider, how many franchise businesses you want to add to your portfolio, and so on. However, just as you may wish to invest in a franchise business, the franchisor also chooses who to bring into their network, which is why there is a vetting process in place.

Like a job interview, franchisors look for specific attributes when determining the ideal candidate to move forward with. Although criteria and specifications may vary, and there can be many different elements a franchisor looks for at different stages of the franchising journey, there are some general checkboxes they want to tick, which we have outlined below. Understanding these traits can allow you to best align with what franchisors are typically looking for.

FINANCIAL APTITUDE

Just like any business venture, finances play a significant role in franchising. Not only must prospective franchisees be financially ready at the beginning of the process, such as meeting net worth and liquid capital requirements, but they should also understand how to stay organized and balance the books throughout their franchise career. Of course, most franchisors are not likely looking for a math pro. However, demonstrating a solid understanding of elements like the franchising fee requirements, profit, revenue, maintaining working capital, and so on can be highly advantageous for you.

EAGERNESS TO GET STARTED

You may have a personal timeline for when you want to invest in a particular franchise business. That is why you may find a franchisor asking, “What is your timeline to franchise ownership?” as your answer can determine their next steps. Franchisors may want prospective franchisees who are ready in the immediate future to begin the process and want to see their eagerness and passion to get started. Therefore, demonstrating readiness and a strong desire to become a franchisee with a particular business can be compelling factors for franchisors, as it can translate into generating success and meeting long-term goals, making them eager to continue the process.

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A WILLINGNESS TO LEARN

The basis of franchising is following an established business model that’s proven to be successful. Franchisors provide initial training so franchisees can learn the systems and operations, along with ongoing support to guide franchisees along the way. When a franchisee does not follow the system, it results in inconsistency, damaging the reputation and success that the franchise business has built. Therefore, one of the top traits a franchisor will look for early on is a desire and openness to learn and follow a system. If you are seeking a business opportunity that will allow you to personalize your operations and/or products/services, franchising may not be the right fit for you.

AWARENESS OF FRANCHISE PROCESSES

Although the franchising experience can differ, understanding the general process can not only offer you valuable insight into what you can expect, especially in your first year, but it also shows a franchisor that you’ve done your research. Conducting thorough research and demonstrating your knowledge of the franchising industry can showcase your commitment, eagerness to learn, and understanding of the substantial commitment involved in franchising.

CAPABILITY TO LEAD A TEAM

Franchisees actively involved in day-to-day operations are typically responsible for leading a team. Therefore, franchisors may look for prospective franchisees with strong leadership skills or managerial experience so they can feel confident that the franchisee can effectively guide the business and lead their location(s) to success.

Leadership encompasses various traits such as empathy, clear communication skills, and the ability to delegate. During your franchise interview, you can expect questions about transferable skills, such as previous experience leading a team and how you demonstrate key leadership soft skills that would be beneficial as a franchisee.

COMMUNICATION SKILLS

Maintaining a strong franchisor/franchisee relationship is extremely beneficial, as it leads to clearly set expectations, trust, mutual respect, and more. Strong communication skills, among other traits, help achieve this. As a franchisee, solid communication skills can look like effectively communicating ideas, reaching out to the franchisor for support, actively listening to your customers and staff, and more. Although a franchisor may not be able to determine this in their first meeting with a franchisee, they may evaluate a franchisee’s conduct during the interview process, their responsiveness to digital communication, and other interactions.

FRANCHISING WITH DOGTOPIA

Are you interested in pursuing a Dogtopia franchise? We’ve outlined the franchisee profiles the Dogtopia business model supports. If you want to find out more about this opportunity, check out our FAQ with details about the pet industry, Dogtopia, and your investment. If you meet our franchisee requirements, please contact us using our convenient online form.