Any person who has seriously considered buying a franchise has wondered if they “have what it takes” to be successful. Assess if you have these things, and you'll have a much better idea.
Do You Have What it Takes to be a Successful Franchisee? By Neil Burnard
1. DO YOU HAVE WHAT
IT TAKES TO BE A
SUCCESSFUL
FRANCHISEE?
HERE'S WHAT YOU NEED
by Neil Burnard
2. PERSONAL QUALITIES
1. DECISIVENESS 2. LEADERSHIP
3. GOAL ORIENTED 4. RISK AVERSE
Have a clear idea of
what you want to
accomplish and how you
plan to do it.
Comfortable "steering
the ship" and taking
responsibility for the
consequences.
The ability to gather
information and make
smart decisions in a
timely manner.
Franchisors will look to
you to minimizing risk
and make calculated
choices.
3. RESOURCES
1. FRANCHISOR 2. FINANCIAL PLAN
3. CAPITAL 4. TIME
It will likely take some
time to turn a profit.
Can you support
yourself until then?
You need a firm grasp of
how much you can
invest and what you can
expect on your return.
A franchisor should be
helpful and supportive.
Existing franchisees
should act as evidence.
Starting a business
requires most of your
time and energy, at first.
Are you all in?
4. DO YOU HAVE WHAT IT TAKES?
ResourcesPersonal
Qualities
Franchisee
Success