Recruiting the best franchisee for your operation is critical to the success and reputation of your organization. You need to eliminate the risk of selecting the wrong candidate at every step of the way. As a franchisor, you have invested in developing a business model that will attract only the best franchisees and the steps taken in the selection process are essential to positive results.
Posts By Sue McConnachie
A credit report is a collection of information that details a company’s, or individual’s, financial and credit history. It provides a risk assessment tool when you are considering commencing business opportunities with vendors, manufacturers, customers, agents, partners, prospective tenants, franchisees, etc.
While both investigative and database approaches will help you and your company evaluate risk, the two methods of credit reporting differ in many ways.
You need the best information possible prior to launching a legal action against a debtor or attempting to enforce a judgment. The defendant’s financial worth will significantly impact the likelihood of recovery.
When working in real estate advisory or the commercial property investment industry, due diligence is critical to a successful purchase. This is especially true when it comes to assessing the value and quality of an existing commercial tenant base and the future income stream of the property.
The success of your franchise depends on a number of factors, one of the most important being the people that represent your brand.
You don’t just want your customers to have a great experience, you want them to enjoy the same high-quality customer service no matter which franchise they enter, and that means you need reliable, professional and dependable franchisees representing your brand.
There are many searches and sources of information utilized to comprise a current investigative report for the property manager, creditor, franchisor, or OEM. The Personal Property Lien Registry is one of those sources and can provide a wide range of pertinent information. It is important to remember that the information gathered from this source is not always considered negative, as liens can also be registered in the normal course of business.
IMPROVE THE QUALITY OF SELECTION
The results of the criminal background check will tell you if your prospective employee, franchisee or dealer operator has been honest in their discussions with you. A critical indicator of overall character and integrity will be on full display if inaccuracies or outright lies are uncovered.
Background checks confirm misstatements and fabrications made by candidates, often leading to disqualification from a job, franchise or dealership – you want honesty, integrity and good character representing your brand.
Commercial leasing discloses a potential hazard of risk and liability. Ensuring you choose the right tenant, at the outset, can dramatically decrease the risk and minimize exposure to arrears, defaults, rent concessions, evictions, legal claims, theft and more.
In this blog, Quality Credit Reporting (QCR) takes a look at some of the most common questions we receive in regards to credit checks for renewal tenants and lists them for your benefit here:
There is a lot of information to consider when deciding whether to screen potential business partners, such as commercial tenants, franchisees, or OEM operators, whether it be in-house or through a third-party screening company.
While it may seem easy enough to screen a prospective business partner, it takes a specific knowledge and expertise to ensure that you are collecting the most valuable information, while also staying compliant throughout the process.