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Strategic Planning Information |
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College Students and Graduates to Run Company Outlets or Franchises
Does your overall business strategy include the recruitment of college students to run your locations? Are you a franching company and looking for young, talented, hardworking and dedicated franchisees? There are some things to think about before you deploy such a strategy. There are both positives and negatives to focusing your recruitment efforts on college students, for instance best reason's to use college students include some of the following: They May Have Rich Parents Who Can Pay Outright For A Franchise; They May Have Parents Who Are Willing To Co-Sign For A Franchise; They are Young With Plenty Of Energy; They Have Little Business Experience And Will Not Try To Rewrite Our System; They Are Used To A Very Structured Environment; They Want To Succeed; They Might Have A Business Degree; They Are Sociable Animals And Good With People; They Will Study Our Operations Manual Cover To Cover; They Will Make Two To Three Times As Much With A Franchise Than Their First Corporate Job; They Love To Have Fun And This Is A Fun Job. There are a few drawbacks to be wary of. These are things, which have been observed by me while giving speeches at colleges to MBA students. They are as follows: They Have Been Brain Washed Into Believing Corporate America Is Where It Is At; Many Think A Few Business Classes And They Know Everything; Some College Students Have Never Even Had A Job; Many Are Only 21-23 Years Old And Have Little Real World Experiences. If you are focusing on this labor supply or recruiting these young adults into your organization as middle managers, store managers or franchisees you will need to try and turn some of these negatives into positives. First, you need to show them that by owning and managing a franchise operation, they will be more valuable to corporate America in the future. You need to show them that they will make many business contacts by running this business and have experience to put on a resume. They will meet Human Resource directors in the area and gain incite into the real world of business. If you are recruiting these kids to run store operations as a manager in charge of an outlet then you need to show them how this experience they will learn such as working directly with customers, problem solving at the counter, understanding human organizational management and learning responsibility for sales quotas and quarterly objectives at the ground level is what Corporate America really needs in their unending push for shareholders equity, quarterly profits and growth in the market place. These students think they understand business. You will need to stroke their egos for a while and tell them how valuable they are with their education and then blow their minds with your incredible business model and customer service by showing them you are on the leading edge of high tech information systems, quality product lines, efficient distribution systems, advanced marketing techniques and state-of-the-art service equipment. They will go home and throw away their text books or have a garage sale and this is exactly what you will need to have happen and when it does you know your recruiting techniques are paying off. Many students have never even had a job. This is good because they will not have picked up any bad habits. Perhaps you could have them work at McDonald's for three weeks. Show you us three paychecks and then we will sell them a franchise. Most B.A. or B.S. degree students are only 21-23 years old. They have no real world experience. They believe that with their degree they can change the world, that they can make a difference. You will be saving them from themselves, letting them learn how the world really works. Then maybe they can change the local world a little. These kids get out of school and they are so idealistic. They are trying to think globally with visions of grandeur. You really need to focus all that energy and mind power locally, helping the community and securing customers at the unit or store level. It will absolutely make your business recession proof and famous. Together with thousands of units and stores across the landscape with young adults who have that youthful energy to burn, their dream won't die. And your company stores or franchise system will soar, because, together everyone accomplishes more (TEAM). Sometimes students get half way through and see school for what it's worth. It's a very excellent way to get a good job, but very limiting. Many drop-out, disenchanted, saving their parents thousands of dollars. The parents can then invest this money in a real opportunity that will propel their offspring into more instant success perhaps purchasing a company franchise from you? You do need to watch however, if the reason for dropping out of school was due to lack of discipline, alcoholism or drugs. Your company is no place for that low level of commitment or integrity. Of course the parents of such drop out offspring may not be willing to co-sign for a franchise and this might be an indication of faith in their offspring and added commitment for your company. On a managerial standpoint a college degree program drop out may have done so due to lack of funds to work and go to school at the same time, meaning they can still take courses while running one of your outlets thus you get the best of all worlds, they will be with you for four more years finishing their degree and you will get the benefit of this added knowledge at the local unit level. Once completion of their degree you will then have time to evaluate them for advancement up your corporate ladder, thus everyone wins. "Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs
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