Many aspiring business owners wonder, “Do I have what it takes to run a franchise?” It’s a good question, because while franchise ownership is an exciting opportunity, success requires more than just ambition. Unlike starting a business from scratch, franchising relies on business skills that include the ability to follow an established system while leading a team, managing daily operations, and delivering great customer service.
In fact, ideal franchise candidates possess key traits and leadership qualities that set them apart. In what follows, we’ll explore the top six qualities that make for a great franchise business owner.
1. Embracing a Growth Mindset and Having a Willingness to Learn and Adapt
You don’t need prior industry experience to thrive as a franchise business owner, but you must have a willingness to learn! A growth mindset is essential in franchising because the business landscape is always evolving, as is technology. This means that to succeed in the long term, business owners must continue to adapt to the changing realities of the market.
Another key element to a growth mindset is the embrace of continuous learning and the ability to take feedback from corporate teams. While quality franchisors like Neighborly® provide comprehensive training and ongoing support, the most successful franchise owners go beyond the basics. They actively seek mentorship, connect with other franchise owners, and take advantage of new and varied learning opportunities.
By staying open to feedback and refining their strategies, growth-oriented franchise owners can position themselves for long-term success.
At Neighborly, we believe that success starts with the right mindset. And you won’t need prior industry experience - we’re here to help you every step of the way. Our franchise owners benefit from comprehensive training, ongoing mentorship, and a proven business model designed for long-term growth.
2. Staying Driven and Self-Motivated
Unlike traditional employment, franchise ownership requires a strong sense of self-discipline and ambition. These are essential qualities in any Neighborly franchise owner. You’re in charge of your own success, which means being goal-oriented, organized, and proactive in growing your business. The most successful franchise owners don’t wait for direction. Instead, they set their own deadlines and make strategic decisions designed to drive results.
From recruiting top talent to maintaining high standards for their teams, a successful franchise business owner leads by example. In this way, franchise owners can turn their business into a powerful engine for long-term growth.
3. Leading with Confidence to Achieve Operational Success
Another key trait cultivated by successful franchise business owners is effective leadership skills. In fact, strong business leadership skills are essential for building and managing a successful team, a core part of franchise business ownership.
As a franchise owner, you don’t need technical expertise in your chosen industry to run a successful business. For example, you don’t need to be a licensed electrician to own an electrical services franchise. This is because, as a franchise owner, you can hire qualified electricians to complete the work your clients need. For this reason, what you will need to know is how to hire and delegate effectively. A great leader ensures employees have the right tools, training, and support to perform their jobs well and meet the high standards set by the business owner.
4. Strong Communication Skills for Business Growth
Along with being open to feedback, maintaining a growth mindset, and leading with confidence, a strong franchise candidate must also possess strong communication skills. So-called “soft skills” for business, including effective professional communication principles and skills for leadership, are an essential part of managing employees, suppliers, and maintaining brand reputation.
In fact, effective communication creates loyalty, trust, and customer satisfaction. Certain franchises, especially in the home service sector, require excellent customer communication to ensure clients feel valued and informed. While communication skills can be learned and improved over time, an ideal franchise candidate will already possess strong communication abilities from the start.
5. Ability to Follow a Proven System to Thrive as a Franchise Business Owner
The franchise business model requires new franchise owners to learn and follow a proven business model and operations. This proven system has been developed and tested by the franchisor and is designed to guide a new franchise owner to success. While there is room for individual contributions, great franchise candidates recognize the value of structured systems and brand consistency and demonstrate a willingness to learn and follow them as they are provided. Such systems are not meant to be limiting or restrictive. Rather, following established guidelines allows franchise owners to focus on growth and operational leadership while benefiting from franchisor support.
Hear from one of Neighborly’s franchise owners, Justin Forrest, Franchise Owner of Rainbow Restoration of Lebanon and Hendersonville, TN, on how the proven system has provided him and his fellow franchise owners success.
6. Being Able to Adapt to New Challenges and Opportunities
One constant about the business landscape is that it is always evolving. For this reason, another key trait a successful franchise candidate must have is the ability to adapt. The best business growth occurs when the owner is flexible and open to making the changes they need to stay competitive.
Examples of these changes may include adding new service offerings, adopting branding updates, and implementing technological advancements. There may also be adjustments to business operations designed to help owners hone that competitive edge. Ultimately, a great franchise owner embraces change, adapts when needed, and collaborates with the franchisor to grow the business.
Do You Think You’re a Great Franchise Candidate? Take the Next Step Towards Business Ownership!
If you’re driven, adaptable, and ready to take charge, you could be an excellent fit for a Neighborly franchise. And don’t worry if you’re still developing some of these essential skills; our comprehensive training, mentorship programs, and ongoing support will help you enhance your existing skills and grow into a confident and capable business owner.
Think you have what it takes to own a franchise? Learn more about franchise opportunities and take the next step toward business ownership. Download our Entrepreneur's Guide to Personal and Professional Freedom today!
