---

Guest post by: Michael Hemenway Become an Author

Tweet

---

---

When you read reports that approximately 97% of franchises remain open even after the difficult first three years; the attraction of this booming industry becomes too hard to resist! But before you start looking for franchisors, here is a checklist for you to make sure whether you can become a good franchisee.
• Are you “people-friendly”? The biggest thrill of franchising is that you, as a franchisee, are supposed to interact with a lot of people, such as your customers, your vendor and of course, your franchisor. You need to have enough people skill to handle each one of them according to their status. Moreover, you must have a charming personality with great sales skills to impress your customers. With your vendors, you will need negotiation power and with your franchisor, you are required to be articulate and organized, so that you can maintain the best of terms.
• Can you learn easily? Franchising business is all about following a successful business model diligently. But, you can only follow, if you learn it really well. For that, you should have the patience and temperament of a student. If you are too much of a free-spirited person, you may find the different clauses and restrictions of the franchisor too suffocating. But that doesn’t mean that you have to be a blind follower; you must have that much spark of creativity to mould the model of the franchisor to your maximum benefits.
• Are you a hard worker? Many think that taking up a franchising business is very easy and it’s all about getting associated with an established brand. You may also think that you will open the doors of the shop and customers will come rolling in! But, that’s not the entire story. Though it’s somewhat true that the name will bring in customers, but to keep them coming back, you are supposed to work really hard.
• Do you have enough financial stability? There are franchising businesses to suit every pocket. But you should have more than the franchise-prescribed budget to cover family expenses and other emergencies.

Related Articles

  Funding the franchise business - franchisor
  Franchising with all its Success
  About 60% of all franchise opportunities have less than 50 units.
  Touchables and Untouchables
  Why Use a Franchise Consultant?
  Did you know: NIIT Franchise was present in Malaysia in 1997?
  How To Evaluate A Franchise Opportunity
  Franchise Discounts for Military Veterans
  Franchise Operations Manuals
  Determining the Initial Franchise Fee
  Franchise Manual is designed to help new franchisees understand how to operated the franchise business
  How to Start A Franchise
  Is Franchising For Me 15 Questions to Ask Yourself
  Master Franchises Explained
  Reselling Your Franchise
  Buying a franchise during recession
  5 Tips for Researching Canadian Franchise Opportunities
  The best franchise systems all have effective leadership.
  Franchise Legislation in Canada
  Mathnasium Franchise FAQs

Related Forum Posts

Re: Enticing Franchises - Top 9 List
Re: Info for would be franchisers...
how much for a franchise fee?
Re: Franchise Surveys
Re: Info for would be franchisers...

Share this article. Fund someone's dream.

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

How to Dominate Your Niche Market

How to Write Your Compelling Vision Statement

Blogheads

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.