Is franchising right for you?

The following questions are designed so that you can self-evaluate. Hopefully the following questions will help you to decide whether or not this business is for you.

Answer these questions with either yes or no. Please answer the questions candidly.

  1. Am I a people person ?

  2. Do I want to be in retailing ?

  3. Do I understand what franchising is ?

  4. Am I prepared to accept direction  from my franchisor ?

  5. Will I follow  the franchisors directions?

  6. Will I be happy paying an on-going royalty and advertising levy?

  7. Do I want to be in the same business for 5 years or more ?

  8. Am I willing to put in the hard yards necessary to make my business work ?

  9. Will this business leave me enough family/private time ?

  10. Will I be open to constructive criticism ?

  11. Am I prepared to accept the hassles that sometimes go with employing staff ?

  12. My computer software can increase my profit.  Do I have the
    patience to analyse this data and act on it ?

 

 

 

 

Tally up the yes and the no's. Now read below to see if you are made for franchising.......... 

9-12 yes

This franchise is for you. As a person you will find this franchise most rewarding for you will be in business for yourself, but not by yourself.

5-8 yes

Now is the time to re-read the questions and really think about the answers. Will you be happy after 5 years in this franchise and do you and your family have enough time for this type of business.

0-4 yes

Unfortunately this franchise isn't for you. Perhaps you are best suited to establishing your own business or to buy an established business.

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