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Entrepreneurs and franchisors are not the same; they're not even synonyms.
But too many people think that if they can start a business, they can run a franchise. Forbes writer Fione Simpson says, not really.
"It's a whole different ball game," she says. Without the right skills in a franchisor, it could be the the Red Sox v. Dodgers all over again.
If you weren't watching the 2018 World Series, Boston won it in four games straight. The Dodgers hardly won an inning, except for that Yasiel Puig home run, but that's another story.
Let's just say that if you celebrate your losses, you need more than a franchise agreement. That's what Forbes says, too.
Well, not really, but the magazine says you can tell a great franchisor. Here are five characteristics of one:
In a sentence, a great franchisor is passionate about the business yet listens and is supportive and collaborative with co-workers to make it work. In a word, the franchisor adapts.
Simpson, a former lawyer, says there are actually 10 characteristics of a great franchisor. That's one more characteristic than there are innings in regulation baseball, but here are five more:
The point is, a great franchisor communicates openly with the team and maintains a personal touch. That's leadership, plus a home run that counts.
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