Former corporate executives are highly-accomplished individuals, who are accustomed to status, recognition, rewards and perks.
IFA:
Former corporate executives can be highly-successful, high-performing franchise owners. Using effective strategies for supporting them and establishing clear expectations about the franchisee-franchisor relationship can lead to greater business success and satisfaction. Here are some keys to success with former corporate executives that can be applied in any franchise system.
Provide clarity about roles and responsibilities
Paint the picture for the executives as to how their days will look as a franchisee. Help them envision whether they see themselves progressing by doing what the system offers and requires of a high-performing franchisee. Transitioning corporate executives need to know the full reality of what they will be doing as a franchisee on a daily basis and how their time will be spent, not just the most appealing aspects that initially attract them to a concept. When the reality and visions match, one has a very beneficial relationship.
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