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Can You Rely on Your Conventional Screening Process to Tell You Everything You Need to Know About the Prospective Franchisee?

  Sue McConnachie   |     Jun 27, 2019

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.

Your preliminary interviews and behavioural profiling are solid tools and will provide you with a sense of whether or not the prospective franchisee has a good understanding of your organization’s goals and expectations as well as the experience they bring to managing one of your franchises.

However, there are other essential factors that these techniques may not reveal, and it is therefore crucial to include QCR’s Prospective Franchisee Financial Screening Report as a key resource in your final decision to bring an applicant under your umbrella.

Your ultimate objective is the protection of your Brand’s good reputation and that positive growth of the Brand is maintained and developed. The Prospective Franchisee Financial Screening Report will confirm your applicant’s financial stability, background, and history of any delinquent or criminal record, all of which are vital pieces of information when making such a significant business choice for your franchise operation.

The cost of implementing a good franchisee screening process is very low, especially when compared to the harm that could result from an ill-informed decision.

You should pay close attention to your Franchisee selection process to:

  • Protect your Brand’s reputation
  • Minimize Franchisee failure and turnover
  • Minimize exposure to legal liability for a franchisee’s wrongful conduct
  • Reduce exposure to legal claims
  • Help your Franchised business succeed and grow  

To find out more, or to request a report, contact us today.

Franchisee Screening Solutions Report

By Sue McConnachie

 Tags: Franchising

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