Checklist: How To Prepare For The Franchise Interview

 

Have you got a franchise interview in the calendar? There’s no need to be nervous. Ultimately, it’s all about demonstrating your commitment to the brand and dedication to business success. And it’s as much an opportunity for you to assess the franchise as it is for the franchisor to assess you.

Reading up on how to prepare for an interview can put your head in a spin and leave you feeling overwhelmed, unqualified and even less confident than you were before. But writing a to-do list and giving yourself plenty of time to complete it can help you regain your poise.

To get you started on your journey to franchise interview success, we’ve created a 15-step checklist to complete before meeting a franchisor for the first time.

How to prepare for meeting a franchisor for the first time.

  1. Research the franchise and its goals for the future – The franchisor won’t be very impressed if you don’t know anything about their business, so make sure you’ve done your research and you know where it’s headed.
  2. Research the industry and the franchise’s competitors – To come across as a competent prospective investor, you’ll need to understand the industry and how the franchise fits into it. Then, you’ll be in a stronger position to discuss the business’s strategies.
  3. Network at franchise events – Attending exhibitions, conferences and networking opportunities is a great way to boost your industry knowledge and demonstrate your commitment to the franchise sector. Plus, you’ll probably make some valuable contacts along the way.
  4. Get active on social media – It only takes a couple of minutes to post an update about your career, but it could significantly improve your credibility in the eyes of a franchisor. Whenever you attend a business event, finish a notable project or collaborate with a colleague, add it to your social media profiles.
  5. Review your skills and experience – You may not need any specific skills to join the franchise you’ve approached but revealing your areas of expertise could put you ahead of other applicants. If you have a background in customer service or people management, for example, think about how you can demonstrate your skills.
  6. Analyse your figures – One of the most important requirements for the franchisor will be your ability to finance a franchise unit. If you don’t have enough capital, they may be able to help you access loans, but it’s important you research your options in advance and prepare to discuss your budget.
  7. Be ready to prove yourself – Franchisors spend a significant amount of time, effort and money building up their businesses, and they invest a lot of capital in franchisee training and induction. As a result, they want to hire the right people, so recruitment processes can be lengthy. Be prepared to work hard to convince them you’re a great candidate.
  8. Recall times you’ve followed instructions – Franchising is all about adhering to set rules and meeting high standards, and if you’re too independent as a business owner, you could find it difficult to get ahead. Franchisors want to know their investor will be able to stick to a formula, so describing projects you’ve successfully completed by following instructions will show you in a good light.
  9. Unearth your entrepreneurial spirit – You must be able to follow guidelines but having drive and the ability to express your thoughts and ideas is essential too. Franchisees lacking in confidence and ingenuity are likely to be too reliant on the franchisor, acting more like an employee than a business partner. So, get ready to demonstrate your entrepreneurial side.
  10. Research franchise agreements – Franchise contracts are generally uniform across the network to promote consistency and equality, but they can appear to favour the franchisor. The better you understand the franchisor-franchisee relationship, the easier it will be to judge whether the business owner is implementing unfair rules or simply safeguarding their reputation.
  11. Brush up on franchise warning signs – If you’ve done a bit of research before the meeting, you should be able to identify red flags. For instance, if the franchisor is willing to negotiate the contract, you’ll need to judge whether they’re making safe adjustments or jeopardising the consistency and reputation of the entire network.
  12. Update your CV – You wouldn’t go into any other job interview with an outdated resume, so be sure to make any necessary changes before meeting a franchisor for the first time. If you aren’t able to bring it up on a mobile device while you’re there, consider printing it out so you can reference your experiences.
  13. Prepare some questions – Franchise recruitment is a two-way process. The franchisor will be analysing your suitability to join the business, but you should also use the meeting as a chance to find out whether you’d like to work there in the first place. Think about what you value in a franchise and get ready to ask some questions.
  14. Select a smart outfit – First impressions count for a lot and failing to dress smartly could rapidly diminish your professionalism in the eyes of a franchisor. Even if the franchise you’re interested in is fairly relaxed, dress well and make sure your clothes are clean and ironed.
  15. Summon up confidence – Once you’ve finished preparing for the franchise interview, it’s time to get into the right mindset. If you’re feeling nervous, go back over your updated CV and recognise your past achievements and current capabilities. If you have friends and family nearby before the big day, chat to them about your meeting – they’ll probably help you feel more relaxed.

 

So, there you have it; the ultimate franchise interview preparation checklist.

Source: Point Franchise – www.pointfranchise.co.uk

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