Take your career to the next level and become a master franchisee
- Friday, August 3, 2012
Capitalizing on a franchise opportunity is exciting enough, but once you have established your company and settled into a daily routine, you might find yourself craving the excitement of additional responsibility. Many people think that franchising ends once a business opens, but this opinion cannot be further from the truth. If you want to push yourself, you might want to consider becoming a master franchisee.
So, what exactly is a master franchisee? Think of it this way - this executive acts as a sort of liaison between the parent company and multiple different franchises in a specific region. For example, if you were the master franchisee for a company Texas, you might be responsible for every establishment that was operating in the southwestern United States. There is really no limit on geographic area, but obviously the larger the region, the more responsibility a master franchisee has.
As a master franchisee, you will be in charge of training, managing and organizing all franchise employees within your specific region. This includes anyone from cashiers to franchise executives. It is your job to ensure that quotas are met and daily tasks are completed on time and in an efficient manner. And, this support does not end once a business gets up and running - you'll need to provide continuous help and advice over the course of a franchise's existence.
Another aspect to a master franchisee is the responsibility to recruit and identify potential franchise managers and business opportunities. Again, if you were in charge of the Texas area, it would be your prerogative to investigate which metro areas could benefit from a "John Smith" restaurant. This is one of the hardest parts of the job, because if you are not confident in your ability to pinpoint market trends and scout city environments, you will not be successful.
Excellent communication skills are necessary if you wish to become a master franchisee because you will often be dealing with the upper management of the parent company. If you are uncomfortable making a presentation to top-tier members of an executive board, this is not the position for you. Essentially, you need to be able to communicate your progress and objectives to your direct supervisors. This includes any relevant financial and budgetary information along with your franchises' profits, employment statistics and reputation.