Are you looking for quality franchisees to add to your network? You’ve completed the introspection step (also read Franchisors, Are You Ready for Introspection?), and you have your profile on FlagFranchise.com. You now have access to a list of compatible candidates, each of them with a percentage indicator next to their name. But what does this percentage mean?
As a general rule, if the compatibility of a candidate is estimated at 70% or higher, it means that this candidate could be a good choice for you. However, it is important to review each criterion independently as certain factors may be of higher value to you in the final tally.
Recruiting the Right Candidate Begins with Green, Yellow and Red!
In assessing candidates and their compatibility with your banner, FlagFranchise attributes one of the three colors – green, yellow or red – per each criterion to indicate their level of fit with your network.
GREEN means that, on this aspect, the candidate is perfectly compatible with your requirements. YELLOW means that the candidate does not fully meet your expectations. And RED means, you guessed it, you are not compatible with the applicant as far as this criterion is concerned.
As we mentioned earlier, not all seven satisfaction factors have the same weight in the assessment of compatibility. For example, if next to the Budget icon in the report you see a YELLOW checkmark, the candidate may not have all the funds required to buy the franchise. However, he may be able to obtain financing.
RED and YELLOW do not mean that the candidate must be rejected right away. First, you must fully understand the significance of each factor for the prospective franchisee. The goal is to develop a strong and sustainable partnership.
In your discussions with the candidate, stay focused and alert. If right away you feel that a candidate is not suitable for the network, then maybe he is not the right franchisee for you. A franchisee-franchisor agreement is signed for several years, so it would be better to start off on the right foot (also read Reduce Unconscious Bias in Recruitment).
Analyzing Your Report, In a Nutshell
Here’s what to do when you receive your compatibility report:
- Review the compatibility ratings (in per cent) for each of the seven criteria;
- Analyze the profiles identified as compatible;
- Contact the selected candidates!
Your franchisee selection process is now that simple!
Wishing you good luck and success!