Top 10 Questions to Ask a Potential Franchisee
- What interest you most about this franchise business?
The best way to determine the “WHY” in any person is to ask what interest them most about the business. People love talking about their life experiences and their WHY so don’t be afraid to ask this question as your first question.
- What are you currently doing now for a living?
Understanding the main role this person undertakes on a day to day basis is important for you to know. It doesn’t matter if they are a stay at home mum or they hold a high-end job role. You need to determine what their drive is and the motivators they have into wanting to own their own franchise. This will give you some knowledge as to whether this person is looking for a business to enhance their current skills and experience or looking for a complete change of career.
- What is it that you dislike from what you are currently doing?
People look at franchising options for the security and pride of owning a well-established business and/or brand that they can simply invest and earn money. This is the main reason for people wanting to join a franchise system, however some people do it for other reasons and your aim is to find out what is not working for them at the moment and tie that into how your business can help them achieve this by becoming your franchisee.
- What do you want to achieve by owning your own business?
Understanding what their “drive” is in life will help you throughout your recruitment process. What goals or achievements do they want to achieve by owning their own business. It’s good to know what motivates this person to achieve their goals and their commitment will allow you to determine if they are going to be “go getters” in business or purely “sit and wait for things to come to them”.
- Have you ever owned a business before?
This is an interesting question – you would be surprised as to how many people these days have been exposed to running their own small business. Their answer will give you an idea if they understand what it is like to run a business, perhaps it wasn’t their own business, but have been exposed to aspects of business dealings that will help them understand what it is like running their own. However, you want to ask the hard question if they have worked in a franchise business before – as owning an individual business is different to owning and operating a franchise system.
- Do you enjoy following a process and procedure?
This isn’t meant to be a tricky question, but in fact you want to learn early on if this person is willing or understands the importance of following a process and procedure in a franchise system. If they answer, “no I like to do my own things” then this will give you an indication that this person is set in their own ways and perhaps a franchise business where it is a requirement to do this is not the right business model for them to undertake. Perhaps owning an individual business is better suited for their style of character.
- Does your partner support your decision to take on a franchise business?
It is important to have the person enquiring to have full support from their partner or people close to them. Without their support, it will be hard for that person to make a decision to make this move and change in life.
- How many hours can you see yourself investing in running your own business? How will you manage/balance the running of your business, family and or other commitments?
This question is a great indication to see if they understand that owning their own business isn’t like working for someone else. They need to be aware that in the early days of owning any business, they need to invest their time to get it working successfully. It is best practice to state the ground rules early on in the piece of the recruitment process, so that they understand and know what is expected from them and allow them to make this decision if they can see themselves doing this moving forward.
- Are you familiar with sales and marketing?
If no experience, find out if this would be an issue/barrier or challenge for them? Having some level of knowledge in these fields is ideal to have. The reason why this question is a great one to ask, is because people need to be comfortable within themselves to be able to communicate appropriately with their customers. If they don’t have any idea but are willing to learn and give it a go then this is a good sign.
- Do you have access to funds to invest into this business?
As much as this is a hard question to ask so bluntly, it is important to know that this person understand that they need to have money to pay for the initial investment to purchase this franchise but also have access to working capital in the early days of their business.