Discovery Point Blog
The Best Franchises Have These Traits in Common
Answering the question, “What are the best franchises?” can be difficult. Building a business requires persistence, optimism, and a willingness to take risks. As a result, many entrepreneurs share these qualities. However, the qualities that make great entrepreneurs can differ significantly from those that make great franchisors.
Operating a successful franchise requires a specific skill set and collection of personal characteristics distinct from those needed to run a single business. Because franchising revolves around the relationship between the franchisor and franchisee, identifying the best franchises to buy requires an in-depth look at the individuals behind the brand and the traits that distinguish them.
Qualities to Look for in a Franchisor
If you’re interested in becoming a franchisee, the best place to start is by understanding the qualities shared by the best franchises. That way, you’ll know what to look for when evaluating franchises to purchase.
By meeting with the franchisor’s leadership team and engaging in back-and-forth exchanges to determine whether they are the right fit for your goals, you’ll have a much better chance of choosing a franchise that suits your values and professional aims.
Take a look at the traits some of the best franchises share below.
The Ability to Inspire
A great franchisor can inspire two groups of people: their franchisees and their customers. If the franchisor shows authentic enthusiasm for their business’s products and services, their passion will be infectious. The franchisor should also display a deep, unshakable belief in the values and aims the business has been built on, inspiring others to follow their lead.
A Supportive Nature
Successful franchises are run by individuals who believe that investing in their franchisees will grow their business and ensure it is run according to their vision and values. As a result, the best franchises believe relationships with their franchisees begin upon the signing of the franchise agreement.
If you get the sense you’ll be left to your own devices after purchasing a franchise location, you won’t receive the full benefits of being a franchisee and you may struggle to achieve success.
A Passion for Communication
Franchisors must be exceptional communicators. After all, they must clearly convey both their broader vision and nitty-gritty details about daily operations to members of their franchise network. Should you ever feel that a franchisor is difficult to contact or communicate with as you investigate the options they offer, you’d be best served by looking elsewhere.
The Desire to Listen
Being an exceptional communicator means more than just sending information in one direction. Communication should be a two-way street.
Franchisors who do not invite feedback from their franchisees are actively ignoring information that could boost their success. In contrast, a great franchisor will seek to learn what is and is not working within the business and work to constantly improve their brand.
A Personal Touch
All too often, franchises grow so large that the franchisor no longer makes an effort to build personal relationships with individual franchisees. Without a proper support system in place, the lack of a personal touch can affect the experience of franchisees as well as how the brand is perceived by customers.
This doesn’t mean that large franchises can’t maintain a personal feel among their franchise network and with customers. It simply means that the best franchises emphasize the importance of maintaining personal contact even in times of extensive growth. For example, franchisors can build connections through on-site visits and requests for honest feedback from franchise owners.
Does Discovery Point Share the Qualities of the Best Franchises?
At Discovery Point, we are constantly striving to be an ideal franchisor for our franchise family. We know that only by building relationships with franchisees and putting our heart and soul into this business can we maintain a successful franchise network – one that fulfills our professional aims as well as our personal values.
Providing well-rounded, ongoing support for our franchisees, remaining open to feedback, conducting regular on-site visits, and encouraging direct communication enables us to let Discovery Point owners know we are always there for them. We also go above and beyond these more concrete forms of support by seeking to inspire our franchisees with our vision for high-quality, community-oriented child care. In our efforts to be the best franchise we can be, we are transforming the personal and professional lives of our franchisees and helping them provide the reliable child care options their communities need.
Learn more about what makes Discovery Point one of the best franchises in the child care industry. Give our team a call at 770-623-1140 for details about our franchise opportunities.