Evaluate your skills before choosing your franchise
Most franchisors will recruit you for your Professional skills. All the surveys indicate that they prefer to recruit tradespeopleor at least “sales” profiles as well as frames.
Although age and gender are of little importance, 70% from franchisees are men and the average age is 42 years old.
Franchisors will be looking for a certain degree of autonomy, supervisory experience, management skills and a big adaptability.
Depending on the sector, they will emphasize this or that skill. For example :
The choice of your deductible will depend on your personal contribution
Beyond your professional skills, franchisors will scrutinize your ability to invest and to you indebted.
Indeed, any franchise requires a personal contribution of at least 30% of the initial investment. In times of crisis, they will scrutinize your ability to finance your cash flow.
Some sectors are obviously more greedy than others. For example, if you want to set up a wine cellar, a health food store, a men’s clothing store or a real estate agency, a initial investment of €50,000 is necessary (outside commercial location).
If you are going into catering, car washing, women’s or children’s clothing, an initial investment of €50,000 to €100,000 you will be asked.
If you feel like a baker, a fast-food manager or an auto center, franchisors will ask for an initial investment of over €100,000.
Your motivation
It goes without saying that your motivation will in any case be scrutinized.
Franchisors will not hesitate to test your stress resistance during interviews prior to the signing of the contract or your ability to work long hours during your training periods.
In many sectors, you can be forgiven for being neophytebut your motivation will be essential and will make the difference.
Our tips:
Meet with as many franchisees as possible and ask them all the questions that come to mind. They will give you a good picture of the reality of the brand that seduced you on paper.