FlagFranchise is a recruitment tool designed to help franchise networks attract and select motivated, successful franchisees. It helps franchisors be more efficient in their process though a technology that targets and identifies the franchise candidates that meet their criteria.
Putting together a network involves a major investment in both time and money. Everything needs to be developed: documentation of practices, establishment of resources available for the franchisees, contract clauses, and so forth. This business model has many advantages, including that of accelerating expansion and sharing of the risks between the stakeholders involved.
For a long time, to stimulate the growth of the network, many franchise networks accepted applications from franchisees who simply demonstrated the basic skills necessary for performing the operations as well as the capacity to pay. Several major chains now regret their choice and are looking for the best ways to select franchise candidates according to qualifying parameters such as the values and strengths of the would-be franchisees.
The recent closing of businesses and other experiences in the past demonstrate the importance of selecting the right candidates for the franchise. In fact, a franchisee with a lot drive but not enough skills may not necessarily be able to ensure the growth of his or her franchise. In such a case, customer experience, labour relations, and partnerships with suppliers are likely to suffer. The poor performance of a franchisee will also affect the territory, which becomes under-exploited, to the benefit of the competition. For the franchisor, rectifying the situation requires a lot of energy, which could otherwise be invested in growing the network.
Unhappy franchisees sometimes become a liability to the chain; they not only negatively affect the relationships between the franchisor and other franchisees but also cause the customer experience to deteriorate, and so interfere with the profitability of the network as a whole. In the end, the networks flounder in an unhealthy atmosphere, and franchisors have trouble finding new franchisees and new customers because the credibility of the network is affected.
The relationship between a franchisor and a franchisee can span up to 20 years depending on the clauses of the contract. Just think how long and complex those 20 years could be if the franchisees in your network don't have the right skills or don't share your network's vision or values.
Choosing the wrong franchisee can also end up in a legal battle; a costly and trying procedure that is likely to impact your relationship with your best franchisees and even tarnish your brand's reputation with your clientele. In short, the durability of the brand is put in peril when the process for selecting franchise candidates fails to consider important parameters.
According to Greg Nathan, founder of the Franchise Relationship Institute, 40% of the success of a franchise, provided that the franchisor's concept is well-known and profitable, is dependent on the talent and hard work of the franchisee, which is why it is so important to select the right candidates.
A franchise candidate that looks good on paper may not necessarily integrate well into your network. Although this step is all-too-often neglected by new franchisors , determining the ideal franchisee profile and putting into place a franchisee selection process is crucial. The way things have been done for the past 10-15 years is no longer enough to optimize the quality of the franchisees.
Choosing a franchisee is a difficult and delicate mission: franchisees must demonstrate leadership that can grow the business while accepting the franchisor's framework, that is to say, they must follow the recipe and adapt to the processes and standards in force. The entrepreneurial profile required by franchising is in fact specific to the sector.
Identifying the candidates who have the potential to become good managers is no simple matter, that's for sure! This is why FlagFranchise measures certain subjective personality traits that are ever-so-important to avoid making mistakes.
FlagFranchise is a tool that helps franchisors determine their ideal franchisee profile, position themselves, and showcase their brand image to franchise candidates. The platform was designed to help networks be more efficient in their recruitment thanks to technology that targets and identifies franchise candidates who meet their criteria. The platform also allows you to quickly filter the candidates who meet your requirements, saving you time and money as well avoiding costly recruitment mistakes before signing the contract.
The flexibility of the tool lets you precisely target potential franchisees, thus ensuring better recruitment and therefore optimizing the performance of the network. And even though FlagFranchise offers several innovative features, its prices are comparable to those of most of the traditional directories, in addition to offering a range of tools including the best selection practices.