For several years now, the franchise networks have been faced with the difficulty of identifying candidates who meet all the criteria needed to succeed. The candidate's interest, experience and financial resources are no longer enough to generate a solid partnership for success in the world of franchises.
The recent closings of businesses and other experiences in the past demonstrate how important it is to select the right franchise candidates: the poor performance of a franchisee will affect not only the territory but also the entire network. For example, if a franchisee who is not compatible with your network occupies a large territory and doesn't manage to realize its full potential, the territory is left wide open to the competition. And because you have a long-term contract with this franchisee, your hands are tied. The entire growth of the brand is put in peril.
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.
Choosing a franchisee is a difficult and delicate mission: franchisees must be strong entrepreneurs and demonstrate leadership that can grow the business while agreeing to follow the recipe and adapt to the processes and standards in effect. So how can you optimize the efficiency of the process of selecting franchise candidates, and thus foster solid partnerships?
The interview is normally part of the selection process and makes it possible, to a certain degree, to verify the candidates' personality traits. Despite all that, several biases may skew our perception during an interview; the process in itself is time and energy consuming. FlagFranchise allows you to better filter the candidates, and to interview only those who meet the criteria defined.
The posting of a business opportunity usually generates several applications. Given the importance of the task at hand, all the applications received must be sorted. However, there are many elements that cannot be measured through the analysis of a CV or standard application form. Although certain franchisors have forms that make it possible to identify personality traits in more depth, the process is quite long.
Widely used by large companies, tools to manage applications (applicant tracking systems) are not as common among franchisors. These software applications let you centralize several tasks involved in the recruitment process: receiving applications, sorting applicants, follow-up processes, etc. Very often, these tools include algorithms that make it possible to target and sort candidates according to certain information, including keywords, skills and experience.
FlagFranchise also lets you efficiently manage the applications received, but its advantage lies in the method it uses for sorting franchisee applications. For a long time, 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 ways to select franchise candidates according to qualifying parameters such as the values and strengths of would-be franchisees. One of the serious consequences of a questionable choice of franchisee is in their incapacity, once in business, to deliver the customer experience that you want. This is actually one of the major challenges of chains today: providing customers with a similar experience throughout the network.
Contrary to the other applicant tracking tools, FlagFranchise automatically performs an initial sorting to validate the profile elements that greatly influence the future motivation and performance of the franchisees: their values, strengths, and desired lifestyle.
FlagFranchise is a tool that lets you quickly filter the candidates who meet your requirements, saving time and money as well as avoiding costly recruitment mistakes
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