A franchise could be a smart choice of business model if you’re starting a business in today’s challenging economy. A USA Today article suggests that “with a franchise you are getting a system that should have been
properly vetted, thereby making the entrepreneurial venture less risky.”
But being a franchisee isn’t for everyone. The article included a quiz to help a prospective entrepreneur decide. It listed 15 questions and said that if you can honestly answer Yes to at least 10 of the questions, you could be a good candidate for a franchise.
I would say, however, that at least 10 of their questions are important to any type of entrepreneurship. So if you find you said Yes to even 12 questions but said No to these three key ones, think again:
- I do not need to be the only boss; I am willing to listen and even follow the directions of the franchisor
- I am willing to follow the system, even when I disagree with it
- I am willing to participate in company-wide events and advertising promotions.
Tip of the hat to Business Opportunities Weblog.