Are You Cut Out To Own A Franchise?

Are You Cut Out To Own A Franchise?

You’ve heard a lot about franchises. Maybe you’ve wondered, “People seem to make a lot of money with franchises. Should I do that?” The answer might not be an automatic yes. There are a lot of factors that go into providing an answer. First, you’ll need an honest assessment. Just to determine if you should consider any franchise, you should be able to answer “yes” to these questions:


  • Are you a self-starter?
  • Are you willing to follow the franchise system?
  • Do you have support from your family?
But there’s more. Ken Garron, president of The Entrepreneur Option adds, “Even if you determine franchise ownership could be for you, you still need to find out what franchise is the right one for you.” Getting the answer to that question can take some work. Garron suggests, “Get input from an expert. For example, our company offers a proprietary questionnaire called The Entrepreneur Assessment. That’s a great start. Then, we will take it a step further by interviewing you to learn more. For example, what skills have you developed over your career? Are you good in sales? Or are you stronger as a manager? You should find a business that matches the owner’s role with your strengths.” Are you cut out to own a franchise? It turns out you can’t answer that question until you know the answers to a few others. This is an important process. Don’t look for short cuts. And don’t make an impulsive decision to buy. The key is an honest and complete assessment – by you, or by someone else who has been through the process before.

About The Presenter

Dan Citrenbaum is a Franchise Coach and Entrepreneurial Consultant, and is a franchisee himself. He has spent over 25 years helping small business owners start and grow their businesses, in order to achieve their dreams. He offers a free service to help people find an existing business to buy, or a successful franchise to start. View his company’s web site at www.EntrepreneurOption.com Mr. Citrenbaum can be reached at DCitrenbaum@gmail.com or at (215) 367-5349. Photo Credit: Shutterstock
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