What I love about the economic climate at the moment is that people who should not have been raking in the dosh in recent years – are now finding it very hard to stay in the game.
The great thing about an economy tightening up is that everything that was taken for granted (like money growing on trees and houses always increasing in value) suddenly becomes a valuable commodity and people’s priorities start to shift. Focus swivels back to values and needs.
For franchisors who didn’t spend a lot of time qualifying the individuals that they brought on board as new franchisees, will start to pay the price because:
(a) they didn’t make sure those people had the skills to survive tight business climates; and
(b) they weren’t specific at all about where those people come from.
Unethical franchisors would have been making their money on signing up anyone with a pen, and now is when the universe will start to repay them.
A smart franchisor would really be checking out which avenues are not being targetted enough, and making sure that their qualification criteria are up to scratch. I am still amazed at the ‘boxed mentality’ some new (and old) franchisors have about where they recruit franchisees from and what they ‘look’ like. This is 2009 – do not let stereotypes blind you to the possibilties out there. Remember there are some key groups that have a lot to offer:
(a) People who fall into the 50+ category
(c) Ethnic Minorities
And a whole host of others!
I want to knock my head several times with a wooden spoon when I hear franchisors tell me that their offering would only suit an individual who is : male; ambitious; from a sales background and entrepreneurial (i.e. ‘just like me’…er them). And don’t you worry I get the opposite too with particular franchised businesses that society would dictate are only ‘for women’ and the franchisor has been completely blinded to the opportunities that men can bring to the table.
Ladies, gents and cross-dressers (hey…you never know!)…let’s step up the game a bit. People need business opportunities and they need income – start playing the game and lets get the economy winded up again…ethically and sustainably.