If you’re thinking about becoming a hospitality recruitment franchisee, you’re in good company. There are more than 773,603 franchise owners out there. Franchising is a great way to leverage a proven system while being your own boss. Getting ready to make the purchase can be a little nerve-wracking, but there are basically four stages that you’ll need to go through before securing a hospitality recruitment franchise.
Step One: Soul Searching and Self Inquiry
The first step on this journey is always about you. Ask yourself these questions as the first step toward considering any franchise, let alone a hospitality recruiting franchise:
- Is franchise ownership right for you?
- Is it right for your family?
- Why are you considering a hospitality recruitment franchise?
- Does a hospitality recruiting franchise fit with your core values?
- Do you feel like you have the skills to be a recruiter in the hospitality field?
- What are your personal strengths and weaknesses?
Make sure you have the support of your spouse and that this venture fits within your financial means. If you answered “Yes” to all of these questions, it’s time to consider step two.
Step Two: Explore the Brand
Understanding what the company stands for and how it’s positioned in the market is a good next step to ensure owning a hospitality recruiting franchise is the right move.
How is the firm branded when compared to the competition? Are there characteristics that you bring to the table that will make you a good fit? Try to find out what the marketing plan looks like to launch and sustain your new franchise.
It’s also a great idea to reach out to the corporation to find out what systems they have in place to help with any conflicts that arise. How will they support you? Talk about the trends in the industry that will make the work harder—or easier.
Also, find out how many of the company’s franchise owners failed. This speaks both to the franchisee selection and vetting process but also the brand itself.
Step Three: Validating Your Assumptions
This part of the process is where the rubber meets the road. Step three allows you to talk with current franchisees to get their feedback on what it’s really like to own and operate a hospitality recruiting franchise. This is incredibly valuable because it allows you to really understand what this new adventure will bring you. Don’t skimp on this process either; contact as many franchisees as possible. Some great questions to ask these business owners include:
- Was the business opening as smooth as you imagined?
- Was the training you received really useful? What were you missing?
- How much oversight and support do receive on a day-to-day basis?
- How successful was your franchise the first year? The second? (Etc.) When did you make a profit?
- What is the franchise community like? Do they feel comfortable reaching out to other owners?
- What was the biggest surprise they experienced in their first year?
Step Four: Take the Plunge
Gecko Hospitality is standing by to answer your questions about franchising. Contact us to start the steps toward ownership of your own Gecko Hospitality Recruiting franchise.