Not all can be franchisees – there are certain personality traits and circumstances that can hinder you from being a successful franchisee. Are you a franchisee material? Here are 100 questions to ask or answer to ultimately help you determine whether you have all the potential to be a great franchisee or not, excerpted from…
In an effort to better the franchise units, some franchisees are trying to do things differently, even changing the way the franchise units should run. Don’t. Many franchisees are great entrepreneurs – They are business owners of their own brands while investing in franchise units in an effort to diversify. Many have also tried to…
Provided you buy a franchise that allows you to be an absentee owner, being a franchisee can present you with more business opportunities. Franchisees are comprised of entrepreneurs, professionals, retirees and many other backgrounds – This wealth of background can add diversity, leading to a stronger franchise, benefiting both franchisor and franchisee. A chance to…
Before you sign any agreements with a franchisor, you should know the potential risks entering franchising. You should not expect your franchisor would want to reveal anything more than what is inside the UFOC (the franchise offering.) You will almost certain to hear good words and upsides of the franchise opportunities you are interested in.…
Can you get rich with franchising? Yes. Just like anything else in business world, you can achieve your financial milestones well if you do the right thing. Being a franchisee for several years makes me realises that not all franchisees are born or created equal – The personal traits of the franchisees govern how well…
When you are looking for a franchise to invest in, you will surely be invited for a short interview to learn why you are interested in one. In some occasions, you may also be invited to take a personality assessment. The personality assessment held by a franchisor is aiming to profile franchisee candidates in order…
