Seeking appropriate franchisees

Franchisors need to be cautious in selecting franchisees as the future of their brands would depend on the new partners. The article deals with a few mediums which may help the franchisors in their search for franchisees

By Abha Garyali | May 18, 2010

Prospective as well as new franchisors have to over-come many challenges before they reach the status of a successful franchisor. They have to keep in mind the complexities which arise while expanding any business. Franchisors should always have a franchisable concept, effective franchise plan as well as reliable and efficient franchisees to expand the business. Once the franchisor decides on franchising than the next step will be always to search for prospective franchisees who can help the

business in achieving great heights. New franchisors in a hurry to expand their business may join hands with incompetent franchisees as they may not have many options to choose from. This can certainly hamper the success of the brand. The article herein throws light on the various ways for searching franchisees. Read below to find the many mediums:

Surfing on websites: Long back the search for franchise information was far more physical, time consuming, and costly. Today, information and search has become more accessible with the coming of internet. At the click of a mouse, we can log on to new franchise websites, rapidly explore and compare a huge range of franchises. Moreover the process of searching for the ideal franchisee can be successfully done on a computer from the comfort and convenience of your home. Once you log on to the internet you can find a number of sites which especially cater for the matchmaking between the ideal franchisors and franchisees. You can surf all these websites and fill forms regarding what all is needed by the perfect franchisee for your business which can bring you closer to all aspiring franchisees.

Newspaper advertising: Advertising in newspapers may be an age old system but is still one of the best mediums. Search for franchisees can come to an end by publishing an advertisement in any business newspaper. Aspiring franchisees can come in contact with you through this evergreen, trusted and tried medium.

Visiting franchise shows: It is a must for prospective, new as well experienced franchisors to visit franchise shows to be better equipped in this field. These trade shows provide a platform to those who want to expand their successful business through franchising and those who want to take a franchise of that business. One can meet a large number of interested and aspiring entrepreneurs. This face to face meeting can help you in clarifying your doubts and taking a decision.

Social networking sites: There are a number of networking sites like Linkedin, face book, orkut etc which can make the prospective franchisees aware of the franchisor’s plan of expansion. The franchisees can themselves contact the franchisors. Therefore it is essential to make your account in such social networks. Franchisors should keep on updating in these sites so that the entrepreneurs become aware of the expansion. Through these sites the franchisors can also come to know about the many suitable franchisees.

Franchise magazines and journals: Many franchising magazines and journals are published which can help the franchisors in search for their franchisees. These magazines and journals include the names of the companies with their contact numbers, e-mail ids etc. Potential franchisees are interested in reading these journals. Finding your business franchise interesting they can come in contact with you themselves. Therefore be sure to enroll yourself in such franchising magazines.

Retired defense personnel: Generally it is believed that a good franchisee is someone who is willing to operate within the guidelines of the established business model and is also effective at leading a team and making the right decisions to expand the business. A profession that encourages such qualities is the military force.  An ex-serviceman can be the ideal choice for a franchisee as they are inculcated with attributes which are needed in the franchisee. These may be decisiveness, perseverance, be able to manage things, maintain a code of conduct etc. If you know any ex-serviceman who is also interested in business, he may be one of your successful franchisee.

To conclude it can be said that there are a number of mediums to find suitable franchisees, the franchisor himself needs to make an initiative to do that. Making a brand successful depends on its franchisees; thereby it is essential to select the best.

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