QSR’s continue to face a great many challenges in the business world. You’re continuously updating and improving menus to keep up with the current concerns and tastes of your customers and, struggling to offer great quality food for a low price. On top of it all, trying to boost profits while keeping costs low.
All the while, other QSR's are saturating the area around you and making it difficult to retain your share of the pie. So, how can you make your business stand out? How can you increase traffic to your restaurant and encourage customers to keep coming back?
The FranchiZe Profile - Your Franchisee Selection Secret Weapon
Some of the biggest challenges you face when selling a franchise for your retail chain are:
- Will you be able to maximize the royalties for that location?
- How can you reduce the cost of franchisee sales?
- How can you reduce your support costs?
There are a lot of tools and services readily available that will help you:
- Do background checks,
- Find out if the applicant can read a balance sheet and
- Understands the basics of running a business.
But just because a candidate knows these things doesn't necessarily mean they do what's needed to be successful.
Here's an example:
How many times have you heard someone say that they value customers, but then whenever you deal with someone in the business, they treat you like you're an interruption?
Back in 1988 when I started Dynamic Performance Systems, I thought that personality would be a good predictor of performance. A lot of people did, and many still do. But after a few years I learned that, although better than tossing a dice, personality wasn't that much better that it justified the expense of measuring it.
So I decided to hire a team of psychologists to find out what does predict performance. What they found was that, although personality could help you hire employees more suited to your business, attitudes and job-specific judgement - not personality - are the best predictors of franchisee performance. In fact, there are 7 critical core values and attitudes all successful retail franchisees have in common.
By measuring these job-specific behaviors, beliefs and attitudes,the FranchiZe Profile has an incredible minimum 93% accuracy when predicting if a candidate will perform in the top 25% in a retail environment!
When the University of Waterloo's Waterloo Organizational Research and Consulting (WORC) Group (recognized worldwide for their research in organizational excellence) scientifically validated our FranchiZe Profile, they found that it predicted who would perform in the top 25% over 93% of the time. In addition, they found that for every 1 point increase in a franchisee's score on one dimension corresponded to an estimated increase of over $19,500 in outlet sales. Another recent study found that there was a $15,675 increase in annual sales for every single point increase on another dimension!
How can you get similar results? Switch to the FranchiZe Profile. A franchisee selection tool that uses job-specific, situational judgement and behavioral questions designed to tell you if your candidate has the attitudes, beliefs and behaviors it takes to run a successful retail franchise. Or, you can keep on using selection techniques that have little chance of predicting franchisee performance. You can go strictly by "gut feel".... You can use the "fog the mirror test".... You can try any of the many other methods proven to be of only limited accuracy.... Or, you can do what many great franchisors are already doing.
By using the FranchiZe Profile you'll know whether the candidate will:
- Treat employees well and understand they are a valuable resource rather than an expense,
- Follow your system,
- Treat customers well,
- Believe that they have control over their success,
- Be comfortable dealing with people,
- Be comfortable with local store marketing and
- Have a strong work ethic.
All areas you know are critical to franchisee success in a retail environment. That's exactly why the FranchiZe Profile measures these seven critical characteristics. It's the only selection tool designed right from the start to predict performance of franchisees.
Each report tells you in no uncertain terms what the candidate's expected performance will be. It will tell you if they should perform in the top 15%, 25%, 35%, or be an average or below average performer. Here are excerpts of the 5 easy-to-read, easy-to-use sectionsa report so you can see exactly what I mean:
- Performance predictions
- Selection Considerations
- Developmental Needs
- Interviewing Workbook
- Candidate Feedback Mini Report
Need More Reasons?
Every single franchisee failure likely costs you at least $100,000.00! And that is only direct, out of pocket expenses. Never mind what it costs in terms of:
- Lost Opportunity.
- Distracting You and Your Staff.
- Unflattering media exposure.
- Potential Lawsuits.
Get Your 30-day Free Trial Today
If you're like other franchisors, you're probably thinking: "Sounds good, but what's the catch?" Quite simply, there isn't one. Take 5 minutes to set up a free 30-day, unlimted use trial.
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