THE FRANCHISEE QUIZ
Today, franchisers realize that a franchisee that fails costs them far more in time, money and reputation than the quick infusion of up-front money is ever worth. They know what they want when it comes to franchisees, and determine who does ( or doesn't) have these traits, a growing number of franchisers have turned to some form of testing.
How do you measure up against the general traits they are looking for? To help answer the question, I have gathered some solid data. Don Boroian's company, Francorp, in association with DePaul University in Chicago, have conducted extensive survey's of franchisers regarding the marketing and sales of franchises.
A special section of the most recent edition of this poll ask respondents to choose, from a list of two dozen, the traits they found most important among their most successful franchisees. A total of 265 franchisers representing more than 40,000 franchised units responding to the survey. With the assistance of Dr. Harry E. "Bud" Gunn, a clinical physiologist noted for his job related diagnostic tests, I used these responses to create the following test for prospective franchisees. This test has been used in practice by Francorp and has appeared in similar form in the book, How to Buy and Manage a Franchise, by Mancuso and Boroian (Simon & Schuster, 1993).
The test is designed to measure your aptitude to be a franchisee, not your worth as a person or your overall general business acumen. As I have noted, the life of a franchisee is not for everyone--and it is important to find out if its right for you before investing your time and money. In order to determine your potential success as a franchisee, answer the questions in terms of your own feelings and experiences, rather than what you think a successful franchisee would say.
For questions 1-16, circle the answer that best describes you or that you most agree with:
1. I have generally been regarded as:
one who loves to plan vacations
B. always been one to work hard
C. one who seeks benefits and rewards for my work
D. being easy to supervise
2. Financially, I:
am very conservative
B. am very liberal
C. have always been able to put money aside
D. have never been well off
3. Taking directions from others is:
one of my strong talents
B. something I do not like
C. often a must
D. acceptable if not constantly required
4. Work-related pressure:
can cause physical illness|
B. is something I try to avoid
C. is a definite problem in business today
D. seldom causes me any discomfort
5. I have generally been regarded as having:
the ability to sell things
B. a good grasp of what makes people tick
C. physical strength
D. emotional warmth
6. To reach one's optimum level of success, one must:
have luck on her side
B. be happy in his work
C. be willing to take risks
D. know the right people
7. Personally, I:
am dissatisfied with my current profession
B. have had a variety of life experiences
C. have strong business and sales skills
D. have not had much business experience
8. A major factor in business success is:
an appetite to learn more about what you do
B. a happy and stable personal life
C. physical stamina
D. extensive business experience
9. I am best described as:
an intelligent person
B. a highly verbal person
C. a hard-driving person
D. a person who can relate to other people
10. A strong desire to learn is:
a valuable asset, both personally and professionally
B. often necessary to advance in business
C. not very important after you complete school
D. uncommon in the business world
11. When a superior tells me what to do, I:
wish I had his job so I could give orders
B. often try to present a new, more efficient way of doing the task
C. secretly resent being ordered around
D. learn from the instruction and complete the task
12. To succeed in business, it is often more important to be hard working than to be creative, talented person:
D. strongly disagree
13. I have been best known for:
getting involved in my community
B. having good general business knowledge and skills
C. being a good parent
D. my work experience with a large company organization
4. As a business owner, it would be most important to me to:
provide jobs for my family
B. be well thought of by my staff
C. be able to set my own work schedule
D. be closely aware of and prudent with my finances
15. Work hours should be:
as long as needed
B. paid for, especially for the boss
C. flexible--long only when needed for special projects
D. equally divided among all employees
16. A description of someone with a good chance to succeed in business is someone who:
likes to get away regularly to avoid stress
B. is always curious to learn more about doing his job
C. works best by himself
D. has a business degree from a top University
For questions 17-30, pick the statement that best describes you.
17. A. I have a strong affinity for sales. B. I am highly energetic.
18. A. I have moderate experience in the type of business I would like to get into. B. I take directions well.
19. A. I am a creative person. B. I am a good listener.
20. A. I am a previous business owner. B. I am able to fully commit my finances to my business.
21. A. I don't mind working long hours. B. I have strong corporate skills.
22. A. I am a very careful, organized person. B. I am a people-oriented person.
23. A. I am a charitable person. B. I am a diplomatic person.
24. A. I am highly spontaneous. B. I am highly goal-directed.
25. A. I am able to take charge with people. B. I am a quick decision maker.
26. A. I have some basic financial knowledge. B. I have previous management experience.
27. A. I need to be in control. B. I can take directions from others.
28. A. I have extensive business skills. B. I am always willing to do what it takes to get things done.
29. A. I often use weekends to unwind. B. I am very resistant to stress.
30. A. I have money in the bank. B. I am willing to do without if necessary.
For this question, circle the five statements that are least like you
I am a slow starter