Are you considering investing in a franchise? Why not take the test and see if you have what it takes to make those first steps towards becoming your own boss.
Answer questions on a scale of 1-10 (1 negative, 10 positive):
- How supportive are your family and those closest to you, of your plans to start your own business?
- How much consideration have you given to the financial impact of starting a new business?
- How could a drop in household income for perhaps more than a year be managed?
- How effectively can you deal with high pressure and stressful situations?
- How open are you to receiving guidance and support, especially if it does not necessarily reflect your own views or opinions?
- How flexible is your work mentality and can you apply focus to different jobs as may be required and multi-task effectively?
- Do you usually have a positive mindset, and have plenty of drive, determination and perseverance?
- How acceptant are you that self-employment, including franchising, often requires harder work and longer hours than employed positions?
- How acceptant are you that a franchise does not bring a guarantee of success, but is more likely to be successful is you work hard and follow the proven business model that a franchisor provides?
- Do you have a decisive mindset, and could you make the decision in the first place to step out of employment and into self-employment?
How did you score?
- Above 75 points Highly suitable for franchising
- 50-75 points Possibly suitable for franchising following research
- Below 50 points Currently not suitable but maybe in the future.