Do you have what it takes to be a franchisee? Take this test and find out.
1. You own a company. How much operational detail are you comfortable with?
a. I want direct control over all operations.
b. I delegate less than half.
c. I delegate more than half.
2. You have three job offers with comparable salary and benefits. Choose one.
a. Small company but high management responsibility and exposure.
b. Midsized company with less personal exposure but more prestigious name.
c. Large company with least personal exposure but very well-known name.
3. You reach a major stumbling block on a project. You:
a. Seek help from others immediately.
b. Think it through and then present possible solutions to your superior.
c. Keep working until you resolve it on your own.
4. Which investment sounds most appealing?
a. Five percent fixed return over a period of time.
b. From -20 percent to +50 percent loss or return over a period of time, depending on changing economic situations.
5. Which business arrangement is most appealing?
a. You're sole owner.
b. You're in a partnership and own a majority of the stock.
c. You're in an equal partnership.
6. Your company's sales technique increases sales 10 percent per year. You used a technique elsewhere you feel will result in 15 percent to 20 percent annual increases, but it requires extra time and capital. You:
a. Avoid the risk and stay with the present plan.
b. Suggest your new method, showing previous results.
c. Privately use your system, and show the results later.
7. You suggest your system to your boss, and he says, "Don't rock the boat." You:
a. Drop your different approach.
b. Approach your boss at a later time.
c. Go to your boss's boss with the suggestion.
d. Use your own system anyway.
8. Which would mean the most to you?
a. Becoming the president of a company.
b. Becoming the highest paid employee of a company.
c. Winning the highest award for achievement in your profession.
9. What three activities do you find most appealing?
a. Sales and marketing
10. What work pace do you generally prefer?
a. Working on one project until it is completed.
b. Working on several projects at one time.
Scoring: 1: A=5, B=3, C=1. 2: A=3, B=2, C=1. 3: A=1, B=5, C=7. 4: A=2, B=6. 5: A=7, B=5, C=2. 6: A=1, B=6, C=10. 7: A=1, B=5, C=8, D=10. 8: A=8, B=2, C=5.
9: A=10, B=1, C=3, D=3, E=8, F=2, G=5. 10: A=3, B=6.
20-33: You're a corporate player, happiest in a structured environment.
34-71: You're a potentially good franchisee.
72-85: You're an entrepreneur, preferring total independence.
Source: Franchise Solutions