Another common question that I get from people interested in franchising is “do I need previous experience?” In short, no! Many franchisors are not looking for franchisees with a ton of experience in their industry. They are just looking for someone who is business minded and are looking to form a partnership! (Check out my last Franchise FAQs blog and video for more on that “partnership” aspect)
What Do Franchisors Look For?
So, what franchisors really look for is a business minded person with the capital and know-how to run and grow a business. As well as someone who is able to leverage the systems, processes, support and training that a franchisor provides.
There is no need to worry or shy away from franchise ownership simply because you don’t have experience in that franchises industry. The franchisor is there to help you, prepare you and set you up for success. After all, your success determines their success!
Requirements for franchise owners change based on the industry and franchise. Although, any good franchisor knows what type of candidate they are looking for and can spot one who they think will be successful in the business. This is despite the amount of franchise experience they have.
Check out my most recent video to learn more about what franchisors look for in franchisees. Let this give you some confidence and alleviate some concerns you might have. Instead, focus on what your role as a franchise owner would be, and then check if your strengths and skills line up. If you have any more questions, get in contact with me.
You can watch some of my previous Franchise FAQs videos either on my YouTube channel or my Instagram page. I cover topics such as franchise investment costs, the franchise sales process and how much money you can expect to make!