For those leaving the military and have franchising on their mind as an option of a second career, the advice below from Dynamis, might just be of interest…
If you’ve found a franchise offer which really interests you, the next thing you will have to do is to get through an introductory interview. With so much riding on the outcome, it’s important for you to give a good account of yourself.
Essentially, that means treating it much like a job interview and being ready to deliver the responses which will signal to the company that you are a serious applicant. So, here’s some things you should consider:
Convey your willingness to carry the brand forward
It may be an important career move for you, but your franchise interviewer will want to know you fully understand your role as a brand ambassador. Remember they also have an interest in growing the business you may control. You should, therefore, be genuinely in tune with the need to showcase the brand and its products and services.
This really is a make or break consideration for the franchise owners. They will want to be sure that further down the road your personal business aims will still be a good fit for their own brand ambitions.
Show that you’re eager to learn
As a potential franchisee, you may well have plenty of relevant experience of the sector in which your chosen franchise operates. But even so, you should remember the franchisor has business methods, strategies and operational procedures which relate specifically to the franchise brand. More importantly, if it’s a good franchise, these will all have been rigorously tested.
So, make sure you come across as keen to understand and learn about the franchise package. And if you need to hit the ground running it may be vital to learn quickly. At all costs, avoid giving the impression your ambition is to rewrite the franchise rule book.
You need to come across as professional
It’s true that skilled, knowledgeable people come in all shapes and sizes. But your franchisor will be looking for someone who can project a good image for the brand. So you must not only have ability, you must also be able to act and communicate in a professional way.
As well as being an expert in your trade, that also means understanding that your ‘audience’ – whether that’s your workforce, your customers, suppliers or anyone else – will have some expectations of you. And you must be able to show you’re someone who can meet those demands.
Show you have the business skills required
If running a business is new to you, you should understand the need to show you have the potential to acquire good business skills. As well as being both literate and numerate, this means things like good time management and being a good communicator. You should also be ready to show you understand the need to delegate tasks and responsibilities.
Remember too that growing your business means selling its benefits to everyone you meet. At the very least that should mean you know how vital marketing will be to the success of your prospective new franchise business.
Explain why you choose this franchise
Any good franchisor will want to feel they understand why, with all the brands available in any particular business sector, you made the decision to apply to them. So, if you can demonstrate you have thought things through very carefully, and can explain how you arrived at your decision, you may well be on the way to building a healthy business relationship.
Do your research on the industry and the franchise beforehand
Whilst your franchisor won’t expect you to have all the detail, they will want to assess how much you already know about the brand and the field within which it is active. Do some thorough brand and industry research well in advance. Not only will that further inform your own choice, it will build the interviewer’s confidence that you are a serious prospect.
First, make sure you have a grasp of what your chosen brand franchise is all about. Then, develop some specific questions you want to ask about the franchise. What you query, or want to discuss further, will obviously be sector dependent but it will also show how much you understand, appreciate and have thought about the franchise offer.
Don’t trip yourself up, though. Remember there’s a delicate balance between a thought-provoking question and one which simply shows you have not done your research! You will not be able to fake a real understanding of the business and the sector.
Do you have the finances?
You should be prepared to show you have finances in place which are necessary to complete the franchise arrangements. You will need to have proof of savings or loan arrangements with a bank.
Becoming a franchisee is an investment. You will need to prove that you have the capital ready for that investment.
By Joshua Antoniou Global Account Executive at Dynamis looking after Franchisors across BusinessesForSale.com and FranchiseSales.com.