How a Franchise Agreement and a Franchise Disclosure Document differ
There are two documents that are of vital importance...
One of significant advantages of a franchise is that joining one makes it easier for you to shift from worker to business owner. However, it is true that some careers offer more in the way of preparation for your new role as a franchisee than others. In certain careers, you would have acquired some of the qualities and skills that are needed to run a business effectively. If you've ever served in any of the positions below, you may have a head start as a new Canadian franchisee.
.
Supervisor, manager or team leader
One job that definitely prepares people for the realities of owning a franchise is a position in management. Of course, there are some franchise concepts that will never require you to manage any staff. However, in many franchises, you will need staff, particularly if you decide to buy more units and expand your business. If you have experienced interviewing people, reviewing employment resumes and applications, training workers and managing the different personalities that often make up a workforce, you will have an edge going in as a franchisee.
.
Military veterans
Many franchises in Canada seek Canadian Forces reservists and veterans for their brands, and they may even offer incentives to those who have already served or are currently serving. This is because military success is often achieved through the same qualities that make for a successful franchisee: commitment, discipline, perseverance and the ability to work within an already-established system.
.
Salespeople and marketers
With a customer-centric focus and strong communication skills required for the job, those with sales or marketing experience tend to make great franchisees. This is especially true if you have ever made all or part of your earnings on commissions, as you will know that you are paid for what you make in sales and not just your time.
Successful franchises come with a diverse variety of professional backgrounds, so if you've never held any of the positions listed above, that doesn't mean you won't excel as a franchisee. Keep in mind the skills required in these "franchise prep" positions before you decide to join a franchise and start your own business. If you have not yet developed these characteristics, now is the time to start so you can go into your new business venture at an even greater advantage than already provided by your franchisor.
.
