Does “the ideal franchisee” exist?
Franchising = an emotional and financial investment
Is franchising something that is inherently in your nature? Or is it something that can be taught? If you are considering becoming a franchisee, understanding both the ‘profile’ of a franchisee and the financial commitment required to open a franchise is paramount. We understand the significant physical and emotional investment required to build and maintain a successful Cash Converters franchise. This is why we offer a clear roadmap and strict criteria – plus ongoing training and support – to make your business a success.
Characteristics of a franchisee
Before we take on potential franchisees, we look for these traits:
- An ambitious entrepreneur
- Desire to be an owner-operator
- High energy
- Previous business experience
- Initiative
- People skills
- Business-minded decision maker
- A hands-on approach
- Hard working and motivated
*If you answered yes to most of these, becoming a Cash Converters’ franchisee might be the perfect opportunity for you.
Other factors to consider before franchising:
- Do your homework
If franchising has piqued your interest, do in-depth research into the franchising industry as a whole, before honing in on one company. The Franchise Association of South Africa (FASA) is a good place to start (www.fasa.co.za), before meeting up with existing franchisees from a specific company.
- Work out all the costs
With franchising specifically, it’s important to understand from the outset the total capital that is required, estimated monthly expenses and annual licence fee increases.
- Be honest with yourself
Once you understand the business side of things, take your personality, characteristics and strengths into account to determine if franchising is right for you.
For more information and to apply to become a franchisee, click here.
