Part 1: How do I select the right franchise for my personality?So you are thinking about buying a Franchise??
Firstly, before you do, there are a few things you should consider, lets look at them in brief.
Before you buy a franchise you need to ask yourself about yourself. What I mean by this is that, unless you have looked inwards at your own skill set you may get into the wrong type of franchise altogether.
Some good questions are:
- What have you done in the past
- Can you work independently and stay motivated to pro actively seek new opportunities or do you need to be fed
- What sales skills do you have if any
- Do you have any customer service skills
- Are you a big picture person or do you prefer detail?
Look into the franchise system and find out things like; how do they help you generate business or do you have to generate all of it. Both of these types of systems are fine but they really need to be suited to your personal ability. There is no point getting into a franchise that requires you to door knock if you hate door to door sales.
Do you have any skills that would be utilized within the franchise system? Things like accounting, sales, customer service, ordering and tracking and management skills. All these things can be useful. However, if a franchise system requires you to have one or more of these skills, you should either already know you can do it or know that you are a good learner and can adapt easily.
Also if you tend to be more of a big picture person or a details person, you will need to make sure either your partner or someone you are involved with in the franchise has the complimentary traits. Some of the best partnerships are where there are partners that each have different skill sets to bring to the table. This can be your husband/wife, business partner or your accountant or family member. If you don’t have a business partner, you will need to hire someone with those skill sets to keep things moving along smoothly.
Written by Elton Williams