advice | business profiles
SELECTOR - WHAT MAKES A FRANCHISEE THE RIGHT PERSON?
Two leading specialists have come together to create a unique franchise advisory package
One of New Zealand’s most respected franchise consultancies has teamed up with one of New Zealand’s most effective psychometric testing brands to offer an advanced franchise advisory service.
For more than 20 years, Franchize Consultants (NZ) Ltd has been advising top-performing franchises on developing impactful business strategies, brands and systems. The consultancy has three times been named Service Provider of the Year in the Westpac New Zealand Franchise Awards (see page 60). And for more than 10 years, Selector Ltd has been offering Australasian businesses unique psychometric assessment tools and critical interpretative services that identify the right people and the support they require to excel.
Now, the two organisations have come together to offer franchises market-leading insights and industry experience to help them gain an edge. We asked Franchize Consultants Managing Director Win Robinson and Selector’s registered psychologist Grant Amos to explain how the new partnership can help franchises flourish.
Why have you decided to establish a partnership?
Win Robinson (WR): Franchize Consultants had been investigating psychometric testing for some time, because we know there are three keys to creating a successful franchise: get the strategic planning right; get the right people; and give them the right support. Psychometric assessment is vital to the last two steps and Selector’s tools were simply the best on the market.
Grant Amos (GA): Our areas of expertise dovetail perfectly. While Franchize Consultants specialises in systems and strategy, Selector specialises in understanding what drives people, and how they will perform. This is essential in selecting franchisees who will excel, and in developing effective on-going performance management.
What does it mean in practical terms for your two companies?
WR: It means we can offer franchisors a superior, more comprehensive method of ensuring they are recruiting the right franchisees.
GA: We will work collaboratively, helping clients to lift their game. Selector will help Franchize Consultants establish the profile of a client’s ideal franchisee, measure people against that and point out weaknesses they need to overcome. We can also help boost performance with existing franchisees. And I’ve already recommended to some of Selector’s clients that they should use Franchize Consultants’ expertise in strategy and systems.
WR: And because we’re working collaboratively, our clients will get an integrated, efficient service.
What benefits will it bring to franchisors? To franchisees?
WR: By using Selector’s tools, franchisors can be confident they are bringing on board the right person. Getting the wrong person can be such an expensive mistake in all sorts of ways – not just financially and legally but in terms of the waste of resources and time, too.
GA: We enable franchisors to reduce risk by helping them to select the right people and offer them the right support. And if franchisees have been through Selector’s psychometric testing, they (and important partners like banks) know they are more likely to succeed in the business. If they don’t suit a particular franchise system, we’ll tell them why and then they can find a more suitable opportunity in another area.
Describe some of the issues you are helping franchisors overcome
WR: Not being able to find the right people is a never-ending problem. With Selector’s expertise, we can ensure franchisors recognise the right person when they present themselves.
GA: We can also help when a good prospective franchisee has one or two weaknesses. Franchisors will know what investment in training or support this person needs to succeed – they can then make an informed decision about whether to appoint that person and provide that support.
What are the big issues facing franchisors? How can they counter them?
WR: We’ve been running the Franchising Confidence Index throughout this year and it’s clear many franchisors are concerned about the future. Accessing money is harder than ever and franchisors and franchisees both need the confidence to expand.
GA: By working with experts such as Franchize Consultants, franchisors can ensure they have the best strategy and systems to help their business flourish. Banks have told us that, before lending to a franchisee, they want to know that person has been through a robust selection process and is the right ‘fit’. Selector’s psychometric tools provide strong evidence of this.
WR: If franchisors show they take the selection process seriously, and the franchisor feasibility study stacks up, banks will take them seriously and will be more likely to offer finance to new franchisees.
What advice do you have for franchisors to best prepare their businesses for 2011?
WR: Franchisors need to review their business, make sure they have a successful format, regularly review their KPI’s and feed useful information to the franchisees. The key here is providing information franchisees can actually use – whether this is long term market trends or ‘tips of the day’ depends on the specific franchisee profile, which is exactly what Grant can advise on.
GA: When planning for 2011, remember it’s much easier to work with the guy you’ve already got than to find another franchisee. But you have to know what makes them tick so you can work out how to approach any performance issues. Without that knowledge, you have little chance of improving performance.
Finding the right people and training them properly is one of the biggest challenges franchisors currently face. We’ll be happy to discuss how you can get a head start on the year to come.
This advertorial is taken from Franchise New Zealand magazine Volume 19 Issue 4
Contact details for Selector
For more information and advice on buying a franchise get your FREE copy of Franchise New Zealand magazine.
We welcome links from other websites to this article. Please note that this article is copyright © Franchise NZ Marketing Limited, Franchise New Zealand magazine and Franchise New Zealand On Line. While it may be downloaded for personal use, no part may be reproduced on any other website, in electronic or printed form or in any other form whatsoever.
This material is copyright © Franchise NZ Marketing Limited, Franchise New Zealand ™ magazine and Franchise New Zealand On Line . While it may be downloaded for personal use, no part may be reproduced in any form whatsoever without the specific written permission of the publisher.