What do franchisors look for in franchise candidates? Trait Two…

Think you need an MBA to impress a franchisor?  Not true.  In this series, we’ll examine some of the key traits that franchisors seek in potential franchisees, and why those traits are so important.

Trait 2:  Self-awareness

Often, franchise business owners are people with a strong sense of self-confidence.  However, the most successful franchisees balance that self-confidence with well-developed self-awareness. In owning and operating a business, being able to identify personal weaknesses is a strength.

An ideal franchise candidate is:

1.         Open to suggestion

Great leaders are great listeners.  An effective business owner knows that being the boss doesn’t mean you always have the best answer.  As a franchisee, being open to suggestions from employees, other franchisees and your franchisor allows you to:

2.         Able to Delegate effectively

As a franchisee, your daily tasks center around improving efficiency, growing sales and progressing toward future goals. Franchisees who get bogged down in micro-managing the day-to-day operations aren’t able to do these things, and this can cause business growth to stagnate. Great delegators:

Do you believe that taking an inventory of your strengths and weaknesses can make you a better business leader?  Post your questions or comments below.

If you have an idea for a topic you’d like to see discussed here, email us at blog@kiddieacademy.com.

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