Most franchise problems can be traced back to the Initial relationship stage. At some stage, someone, either the franchisee or franchisor, has gotten the wrong impression of what is required to make the franchise relationship work.
Vapor Store Business Franchise opportunities are limited, and day by day this is far between in the vaping industry. If you are looking for a Vapor Shop or Store Franchise to buy the products, it’s a tough task for you find the right shop that will fit your budget and also your vape product. There are a lot of questions to answer yourself to get before buying Vapor Store Franchise as a business opportunity.
For instance, a franchise may not have any idea what he has to do to drive their Vaping business to success. (Perhaps they think their franchisor should be doing the Vaping.) Or the franchisor may be ignorant of certain attributes that are going to undermine a franchisee’s success ultimately. (These can range from personality characteristics such as a low tolerance for frustration through to financial problems.)
There are two common pitfalls in the field of selecting people:
1. We fail to define what we are talking about clearly.
2. We tend to make decisions based on invalid information.
Let’s look at these more closely.
Defining what we mean
When discussing human behavior, we often use or hear statements such as “She is a team player,” “He is passionate about his work,” “She has no integrity,” “He has a bad attitude,” and so on. The assumption is that everyone shares the same meaning of what we are talking about. However, this is seldom the case.
One often-quoted management principle says, “If you can’t measure it, you can’t manage it.” True enough. However, before you can measure something, you have to first know what you are measuring. So, when we are talking about human behavior, we need to be as specific as possible and define what we mean.
What do we mean by vaping shop success, for example? I define a successful vape shop franchisee as someone who:
1. Runs a profitable vape product business; i.e., they know how to control their e-liquid costs and maximize their sales.
2. Builds a base of satisfied vapes; i.e., they understand that building a business is about vape feeling good about dealing with you.
3. Supports the vapor store franchise systems and vape brand. (A vapor store franchise which makes a lot of money but is continually bad-mouthing or undermining your franchise system is not what I call a successful franchise because they are not going to last long. The Vape Shop industry is a very profitable industry, and there can be a lot of money to be made with the great profit margins that are in e-liquid, vape mods, accessories, and more.
What makes a successful Vape Shop Franchise?
A question on the minds of many Vapor store franchisors is “What makes a successful Vaping business franchise?” After researching this question, I have found that successful vape shop franchisees consistently do a number of things that can be grouped into four key areas.
Firstly, they keep track of information and trends that tell them how their business is performing. This means that they can use a computer, read figures and they spend time each week tracking their performance against set criteria.
Secondly, they set achievable goals because they are outcome focused and slightly competitive by nature. It is said that luck is where preparation meets opportunity.
Thirdly, they understand that all the analysis and visioning in the world won’t get them anywhere unless they are prepared to work hard and maintain high standards of service delivery. This means that they stay organized and plan their life so they can sustain the long hours and family sacrifices necessary to launch and maintain a successful small business.
Finally, they understand that business is ultimately about people and that unless they gain the support of the people on whom their business depends, they have nothing.
The man who could not find his keys
The following story illustrates the other common trap in selection, (making decisions based on invalid information):
One night while taking his dog for a walk, a fellow came across a neighbor who was scrambling around on his hands and knees under a street light outside his house.
“What are you doing?” he asked.
The man on the ground explained that he had lost his car keys
Being a good neighbor, the fellow with the dog offered to help. After 10 minutes of crawling on the ground, the keys were still not found.
“Are you sure you dropped them here?”
“No. I dropped them in the garage,” was the casual response.
“So why have we been searching for them on the nature strip?”
“It’s dark in the garage stupid. The light’s much better out here!”
For instance, they look at attributes that have little relevance to success in the business and ignore attributes that really do hold the key to success or failure. The reason for this is that relevant information may not be readily visible or might require extra time, energy and inconvenience to uncover.
What are you looking for?
When selecting Vapor Store franchisees, you need to be clear on what you are looking for and then have good Vapor Store systems in place to direct your mind to look for these things in the right places and not just from your comfort zone.
Take for instance the phenomena known as “The Halo Effect.” This is where we make decisions about a person based on a generalization from an unrelated aspect of their personality, behavior or background. For instance, a candidate’s uncle might be the highest performing Vapor Store’s franchise in the state. Impressive? Maybe. But what does this tell you about their suitability to your business? A candidate may be attractive and have a great smile. But what does this say about their ability to manage your vape store staff, handle pressure, use a computer, keep organized, resolve conflict, and so on? In a word – nothing.
By the way, here are a few tips on how to protect yourself from the Halo Effect.
There are a lot of vapor stores that were started and sell their store. You can search around and look to see if they are looking to sell their store. You can often acquire a vape shop at a cheap cost, but some money into designing a better vape store front, bring in perfect e-liquid and vape equipment that vapers are looking for and turn the shop around to a successful money making vaping business model.
Keep an open mind during initial interviews or discussions. Be slow to make generalizations based on first impressions or one piece of information.
Be prepared to change your opinion in the face of new information. Don’t treat the assessment as a test of your superior psychic or intuitive abilities.
And of course, have an objective and a clearly defined attribute profile to compare people against. This is a specific list of qualities and characteristics you are looking for because these have been shown to correlate with success.
Franchisors that invest in thorough, systematic and professional selection processes and follow these up with good training and induction systems can be reassured that they have spent their time and money wisely. They will have gotten the two fundamentals right. Being clear on what you are looking for and making judgments based on good information.
The real business of the franchisor
This brings us to understanding the real business of the franchisor. I define this as:
“Putting people into business and providing them with the systems and support that enables them to achieve their personal and financial aspirations.”
In other words, as a Vapor Store franchisor, you are really in the systems, training and motivation Vapor business. Technical excellence and produce innovation may get you started but it is certainly not enough to sustain long-term Vapor growth and prosperity for you and your future franchisees.
So now we know the sort of person we are looking for – (someone who analyzes how their business is tracking, who is prepared to put in the hard yards, who sets goals, and who has good people skills) – how do we find such people?
Like most of the challenges we face in life, the answer to this question is usually staring us right in the face.
In other words, you want to attract strong inquiries from high caliber people; then you are best to focus your efforts on building advocates from within. Not only will these people be the most cost-effective form of advertising you could ever hope for, but in delighting them you are also laying the foundation for a truly awesome franchise system that will surely stand up to the inevitable strains and stresses of your Vape Shop Franchise life.