How To Assess A Franchisee | Assessing a New Franchisee | How to Support A New Franchisee

How to assess A franchisee

So, you’ve made the big decision to franchise your business but how do you find the right franchisee? To protect your reputation, it is key to have the right people in place, someone who can not only run the business successfully but who will also represent your values and brand. Here are some key points to consider when searching for the right fit:

Background

  • Do they have the correct level of education required?
  • What relevant work experience do they have?
  • Do they have business management experience?

Finance

  • Have they secured the required funding, or do they have existing equity?

Personal Qualities

  • Will they be a team player and be able to fit in with an already established workforce?
  • Do they have a good support network in place?
  • Do they possess the drive and enthusiasm needed to get a business up and running?
  • Have they been self-employed previously?

In addition to taking all of this into account, above all it is vital that you trust the individual both professionally and personally as you will be relying on them to represent your brand and build a successful business.

If you would like some franchising help please free to call us on 01993 706403 or e-mail hello@ngifranchisefunding.co.uk.

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