FranChoice Franchise Consultants

Franchise Ownership: A Self Test


Only by having a clear understanding of yourself, your motivations and your goals, can you determine if franchise ownership is right for you. The questions and quiz below are designed to get you thinking - take your time and be completely honest. There are no right or wrong answers, only insights into your true self.

* Why specifically do you want to own a franchise? Is it to get rich, Is it to be your own boss and control your own destiny?

* Are you in good health? Do you feel able to handle the stress of starting a new business venture?

* How involved is your family in this decision making process? Do they understand the risks and commitments involved?

* What sort of hours do you prefer to work? How about working nights and weekends? What about working from home?

* How do you feel about selling? Would you rather be in an environment where customers come to you?

* Do you enjoy following a system, or would you rather do your own thing?

* Are you confident in your decision making, not needing the support of others?

* How do you feel about accepting coaching and assistance from others?

Keep your answers to these questions handy and use them as a reference tool to ensure you are choosing the franchise that best suits your style and motivations.

 


Success Factors

There are a number of characteristics that virtually all franchisors look for in prospective franchisees. As you take the self test below, give yourself a frank appraisal (from a 1 indicating a weakness - to a 3 indicating a strength) on how strong you are on each aptitude. The better you rate, the greater your aptitude for becoming a successful franchisee.

The Self Test - Part I <<Weak -- Strong>>
Service Oriented 1 2 3
Customer Focused 1 2 3
Goal Setter 1 2 3
Decision Maker 1 2 3
Basic Need to Control and Direct 1 2 3
Thrives on Achieving Results 1 2 3
High Confidence/Self Esteem 1 2 3
Follows Business Procedures 1 2 3
Fits into the Organization 1 2 3
Gets Along Well With Others 1 2 3
Coachable 1 2 3

 

 

Prerequisites

There are also four prerequisites that you must have in order to be successful as a franchisee. Give yourself a frank appraisal on each of these key factors before deciding to proceed.

The Self Test - Part II
Management Experience under 5 yrs 5+ yrs
Net Worth under $100k $100k+
Liquid Capital under $20k $20k+
Time Part-time Full-time

 

 

Your Results

By clicking the "Get Your Assessment" button, your answers will be evaluated and a composite score will be given.

Get Your Results
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