You may have heard of master franchising and wonder whether it may be right for you and your business. While master franchising can seem like the optimum opportunity to expand your business globally, there are certain things you may need to consider – not only in your business, but in those you choose to help you expand. Becoming a master franchisee is different from being a regular franchisee, and you should be aware of the qualities and skills you need to look for when choosing the individuals who will help you to run your business.
Mark Jameson, from FASTSIGNS International, Inc. said: “For master franchisees, we’re seeking savvy entrepreneurs that also have a deep understanding of what it takes to grow a brand in a new country, in addition to being driven to help businesses in their community solve their visual communications and marketing challenges.”
In this post, we look at the five key skills the best master franchisees have.
Lots of experience in large organisations
In order to help you run a global franchise, your franchisee should have experience of working in a large business with a complex structure. Having worked in such an environment before will give the franchisee a good understanding of how the different parts of a large business work, connect and function. Master franchising can be very complex with many moving parts, and as a result, a master franchisee should feel comfortable and confident in such a structure. It will be the role of your master franchisees to expand the business, which can add to the complexity of the business structure. Your master franchisee must have the experience necessary to keep the business running at optimum performance while simultaneously growing the operation.
A good understanding of developing and nurturing workplace culture
While most franchisees must develop the culture of their specific unit, master franchisees have more of a role in creating the culture for every unit in their territory. The master franchisees you choose should demonstrate that they understand the importance of a healthy workplace culture and the impact it can have on the business.
Furthermore, your master franchisee is likely to be opening units in territories with a different culture from the original in terms of working, consumer preferences and even doing business. Your master franchisee will need to be aware of these cultural differences and work hard to balance the values of the original business, with the cultural preferences of the new territory, its employees and its customers.
Excellent leadership skills
Any decent master franchisee will be an excellent leader. They must be able to build strong relationships with franchisees, employees, customers and the wider business community. They must also be able to set an example for franchisees in their territory and earn the respect of those working in the business. The ability of the master franchisee to lead can have a huge impact on the business. In order to be fully dedicated to the business and carry out their role with the necessary passion, franchisees should trust and respect the vision of the master franchisee. You may wish to consider those with a strong personality, capable of inspiring others.
However, it is not necessarily the loudest or bossiest person that makes a great leader. Being able to make people feel valued and like the work they do is an important part of the business is crucial too. What is necessary though, is the ability to lead the business in a clear direction with passion and vision. A good leader can convince others to have faith in their vision and utilise their communication skills to explain what needs to be done to achieve their goals.
A good understanding of the new territory
One of the key qualities your master franchisee will need to have is likely something you are lacking – an excellent understanding of the territory you are expanding into. As discussed above, there may be significant differences between your home territory and the one you are expanding into. It will be the role of the master franchisee to develop the specific culture and values of their area. Furthermore, there may be obstacles that only someone with a good understanding of the territory can overcome. For example, the language might be different or the financial and legal structures may be difficult to navigate. The master franchisee should at least know how to get help to manage these differences. Furthermore, there may be regional differences within the territory, and the master franchisees should be able to understand how these regional distances may affect the business.
Excellent ability to train and carry out training
Even the most skilled master franchisee will require ongoing training. As the party responsible for the entire territory, they should be enthusiastic about staying up to date with key business trends. They should also have the ability to pass on their knowledge and support to other franchisees in their territory and maintain an enthusiasm for training and learning. It is important that franchisees will feel comfortable reaching out to the master franchisee where they are struggling.
Are you ready to take your business to the next level? Advertise your master franchise opportunity with Franchiseek International Franchise Directory.