Franchisor Opportunity: Improve Your Bottom Line
Everyone wants to improve their productivity. The big question is how much do you have to invest? Typically, as we all know, it requires a significant cash investment to improve productivity, which adds one more cost center to your budget.
ACCORD has a special productivity program for franchisors that can improve the productivity of their franchisees while operating as a profit center. The program, furthermore, is based upon research that shows a direct correlation between personality and performance. The research originated when a mid-sized franchisor wanted to know why some franchisees performed well and others did not. The disparity was so striking that the franchisor divided its franchisees into four categories -- superior, good, average and poor -- based on generated royalties.
Personality and Performance
ACCORD gave the franchisees a personality assessment, and discovered an uncanny correlation between the personality of the franchisees and their performance. Basically, franchisees with personalities to be a business owner/entrepreneur generated more royalties than franchisees with weaker personalities. The results are shown in the accompanying graph. As you can see, the franchisees who had ideal personalities to own a business generated an average of $52,000 per year in royalties, while franchisees who had weak personalities to own a business generated an average of just $6,500 per year. Read More
Franchisees can improve productivity by understanding their weaknesses and adjusting for them in their businesses. Furthermore, they can use personality assessments to make certain that key employees and prospective employees are well-suited to their jobs. As their franchisor, you can partner with ACCORD to make these assessments available to your franchisees, and operate on a break-even or profitable basis. The assessments are highly accurate and are very low cost, ranging from $15 to $35 depending upon volume.
Low Cost Start-up
In comparison to most productivity improvement programs, which are very expensive to start, it is very inexpensive to start a personality assessment program. Typical start-up costs for a mid-sized franchisor are $15,000 to $20,000, and the costs are quickly recovered from revenues generated when your franchisees use the assessments in their own businesses. For more information, please call us at 800-466-0105 or send us an email.