In our second part of the Art and Science of Franchise Recruitment Qualification, we differentiate art from science. In the science of qualification, we are observing the behaviour of the franchisee candidate. In the art of franchise qualification, we are applying the art of listening and hearing.
Listen and Hear
Listen to the answers the candidate gives.
Listen to the reasoning behind and answers.
Hear the ability of the candidate to effectively run a successful franchise.
Anatomy of a successful call
There are four essential factors in qualifying a franchise candidate: determining interest, defining timeframe, assessing comfort and ability to make a financial investment, and finally, geographical possibility/capability.
Why are they/what made them interested? Where did they learn about the opportunity? Who referred them? Why do they think they are qualified to run the business?
When will they be ready to invest? What needs to take place before they invest?
Comfort Level and Financial Capability
Do they have the initial investment? Is there enough to live on while they start the business? Will their family and/or partners be comfortable in risking part of their wealth?
Where do they want to open the business? How many locations/business units do they feel comfortable running? Would they be willing to run a remote business?
In qualifying a candidate, we are gathering information to see if they fit our needs. In the next steps of the sales process, there will be plenty of time to determine if the franchisor fits the franchise candidate’s needs. Time is precious for both parties. It is vital to bring forth only candidates that are well qualified and capable of running a successful business.
The Art of Franchise Qualification
The qualification and disqualification of candidates is a balancing act that requires an extensive skill set of experience and knowledge. We believe that this is the most important stage in the franchise selling process. Having a proper balance of the art and science of franchise recruitment will bring forth quality candidates, that will be able to invest in a franchise and report abundant royalty revenues for years and years.