They recently launched a “franchisee in
training” program, which enables people
who are interested in the industry
(inventory control for bars and restaurants)
to work with top-performing franchisees,
commitment-free, for up to two years and
then transition into owning a franchise of
their own.
“They come in as franchisees in training
where they learn all levels of the business
and operate all levels of the business,” Smith
said. “Then, they move on and get their
own franchise territory.”
A good franchise company will make sure
you not only fit with the culture of the
franchise but also have enough liquidity to
fund your start-up and to run the business.
Money, however, doesn't necessarily
guarantee success or failure.
“We've had people that barely qualified and
turned out to be fantastic franchisees, and
we've had people with loads of money who
failed,” said Ron McCoy, vice president of
business development at Help-U-Sell, a
specialty real estate franchise.
Most of the CEOs we spoke with for this
report don't require previous experience in
their specific industries, but they all require
passion for the franchise business .
CruiseOne, for example, expects potential
franchisees to have an exhibited passion for
travel. HomeWell Senior Care looks for
franchise candidates committed to working
with the aging population.
“The care piece is themost important for us,
everything else is secondary,” said CEO
Yount.
108 | BusinessWorld | August-September 2014
