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Are You Cut Out to Be a Franchisee?

February 10th, 2009 | No Comments | Posted in Franchise business

In 1997, the Franchise Times conducted a survey of the “average franchisee.” What it discovered was that the typical franchisee is a 48-year-old man who owns 3.5 franchises, works 52 hours a week, and attended college. But if that does not describe you, don’t worry.

Franchisees come in all shapes and sizes and from all walks of life. Franchiseesare people who usually want a career change; people who may be fed up with corporate life and dream of owning their own business. While that’s a start, there is more to being cut out for the franchise world than a strong desire. From the franchisor’s point of view, a good franchisee should be:

• Someone with a strong work ethic, motivation, and enthusiasm

• A person who may not have all the necessary entrepreneurial skills; i.e., someone who needs what a good franchisor has to offer

• Someone who is open and willing to learn new things

• Someone with management experience

• A person with knowledge of the industry (Note: This is not usually necessary for a fast food franchise.)

• Someone who is a good salesperson (Maybe the most important trait of all.)

If you think that a franchise is for you, the next step is to thoroughly check out possible franchisors. Not all franchises are created equal. Some franchisors give a lot of support and training, others give little. Some are easy to work with, some are not. The important thing is that you do your homework and learn about the franchise before buying.

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