Are you considering investing in a franchise? Are you suitable for Franchising? 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?
Are you suitable for Franchising?
How did you score?
- Above 75 points – You are highly suitable for franchising
- 50-75 points – You are possibly suitable for franchising following research
- Below 50 points – Currently you are not suitable, but maybe in the future.