Defining a detailed ideal franchisee profile for your brand
There are four profiles we create for franchisee profiles:
Demographic - age, marital status, income, education level
Geographic - local to the area, community orientated, familiar with the local culture
Psychographic - likes and dislikes, mannerisms, business exposure
Behavioural - adaptable, dependable, hard working and collaborative
These are not written in stone, general profiles are needed for successful lead generation.
We've worked with franchisors that were not that flexible with their ideal candidates, and we would suggest that being open minded and allowing diversity will help with your expansion.
This is why trusting your franchise sales team is important, there are nuances and non-tangibles that are revealed at the beginning of the sales process that may not show up during the nervousness of a discovery day. Meeting the CEO can have some candidates more guarded, but with the salesperson they were more gregarious.
What I personally look for is a supportive partner, many women purchase franchises after their children have grown and all that energy of running a household is extremely advantageous when running a business. If their long standing partner is on board, it's like having two capable franchisees running their location.
I agree with Kevin O'Leary when he was quoted, "Most of my operating positions in my overall holding company are women," O'Leary said. "They live their lives in this new arena the same way men do, except they're incredibly productive -- that's why I hire them."
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