Would I make a good franchisee?
You may be surprised to learn that most people who decide to open up their own business haven’t done enough homework. Regardless of how often we meet to discuss our franchise opportunity, “the real you” is often hard to get to know.
Our franchisee selection process is taken very seriously. Having enough money to buy a franchise does not mean you will be automatically accepted. We want you to fit into the culture of our organisation and understand what it means to be a Supanews franchisee. Prior to contacting us, we suggest you take the time to really get to know what motivates you, what are you passionate about and how do you define success in your own life.
Our most successful franchisees demonstrate the following qualities.
Compliance is key
All good franchise systems will set down controls and rules that you must be prepared to adhere to in order to achieve the best from the franchise. These controls regulate the quality of service and products offered to the customers throughout the brand. If you do not believe you can comply with aspects of the Supanews system 100%, we suggest you consider other business opportunities.
Like all customer oriented businesses, there are great rewards for those who are prepared to put in the hours and the effort. At Supanews, we believe that the most successful franchised stores are those which are run by the actual owner of the store. We also believe that the best head-start you can give your business is to commit yourself to it and fully understand every aspect of the operation.
Enthusiasm and passion
At Supanews, no previous retail experience is necessary, but we do expect a commitment to devote your full time and attention to your Supanews business. You need to be 100% behind the Supanews brand, and proud to be part of our network. You'll also need to pass that enthusiasm for the Supanews system on to your staff, so that they can provide a positive and consistent experience for your customers. You also need the support of your family, as buying a business will affect them as well.
As mentioned earlier (see How much will it cost?), investment levels vary across stores. However, it is important to consider what other funding you will need for the first six months of the business. Other costs incurred when purchasing a business include legal fees, accountant fees, stamp duty, staff wages and invoices for stock ordered in your first few months of trade.
Good business sense
While the Supanews system provides comprehensive operational and financial management support, you must have a good sense of how business works. You will need to be across subjects like cash flow management, inventory management and human resource management.