Quiz: Are You Suited To Become a Franchisee?
Learn how to invest your IRA or 401k into a franchise penalty-free. ($50k min)
For questions 1-16, choose the answer that best describes you or that you most agree with.
- I have generally been regarded as:
a. one who loves to plan vacations.
b. always being willing to work hard.
c. one who seeks benefits and rewards for my work. d. being easy to supervise.
- Financially, I:
a. am very conservative.
b. am very liberal.
c. have always been able to put money aside.
d. have never been well off.
- Taking directions from others is:
a. one of my strong talents.
b. something I do not like.
c. often a must.
d. acceptable if not constantly required.
- Work-related pressure:
a. 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.
- I have generally been regarded as having:
a. the ability to sell things.
b. a good grasp of "what makes people tick."
c. physical strength.
d. emotional warmth.
- To reach one's optimum level of success, one must:
a. have luck on his or her side.
b. be happy in his or her work.
c. be willing to take risks.
d. know the right people.
- Personally, I:
a. 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.
- A major factor to business success is:
a. an appetite to learn more about what you do.
b. a happy and stable personal life.
c. physical stamina.
d. extensive business experience.
- I am best described as:
a. an intelligent person.
b. a highly verbal person.
c. a hard-driving person.
d. a person who can relate to other people.
- A strong desire to learn is:
a. a valuable asset, both personally and professionally.
b. often necessary to advance in business.
c. not very important once you complete school.
d. uncommon in the business world.
- When a superior tells me what to do, I:
a. 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 instructions and complete the task.
- To succeed in business, it is often more important to be hard-working than to be a creative, talented person.
a. I strongly agree.
b. I agree.
c. I disagree.
d. I strongly disagree.
- I have been best known for:
a. 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 organization.
- As a business owner, it would be most important to me to:
a. provide jobs to 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.
- Work hours should be:
a. as long as is needed.
b. paid for, especially for the boss.
c. flexible-long only when needed for special projects.
d. equally divided among all employees.
- A description of someone with a good chance to succeed in business is someone who:
a. likes to regularly get away to help avoid stress.
b. is always curious to learn more about doing his or her job.
c. works best alone.
d. has a business degree from a top university.
For questions 17-30, pick the statement that best describes you.
- a. I have a strong affinity for sales.
b. I am highly energetic.
- a. I have moderate experience in the type of business I would like to get into.
b. I am a good direction-taker.
- a. I am a creative person.
b. I am a good listener.
- a. I am a previous business owner.
b. I am able to fully commit my finances to my business.
- a. I don't mind working long hours.
b. I have strong corporate skills.
- a. I am a very careful, organized person.
b. I am a people-oriented person.
- a. I am a charitable person.
b. I am a diplomatic person.
- a. I am highly spontaneous.
b. I am highly goal-directed.
- a. I am able to take charge of people.
b. I am a quick decision-maker.
- a. I have some basic financial knowledge.
b. I have previous management experience.
- a. I need to be in control.
b. I can take direction from others.
- a. I have extensive business skills.
b. I am always willing to do what it takes to get things done.
- a. I often use weekends to unwind after the workweek.
b. I am very resistant to stress.
- a. I have money in the bank.
b. I am willing to do without if necessary.
- For this question, circle the five following statements that are least like you:
a. I am a slow starter.
b. I am able to sell anything.
c. I prefer to work by myself.
d. I am interested in learning new skills.
e. I would rather live spontaneously than set long-range goals.
f. I thrive in stressful, busy, deadline situations.
g. I work best by taking charge and issuing orders.
h. I am rich in people skills.
i. I prefer a large corporate environment.
j. I have a history of working long hours at favorite activities.
For each answer you have chosen, give yourself the corresponding amount of points listed below.
1. a - 0, b - 4, c - 0, d - 2
2. a - 2, b - 0, c - 4, d - 0
3. a - 4, b - 0, c - 2, d - 1
4. a - 0, b - 0, c - 1, d - 4
5. a - 4, b - 2, c - 0, d - 0
6. a - 0, b - 2, c - 4, d - 0
7. a - 0, b - 2, c - 4, d - 0
8. a - 4, b - 1, c - 0, d - 3
9. a - 1, b - 0, c - 2, d - 4
10. a - 4, b - 2, c - 0, d - 0
11. a - 0, b - 2, c - 0, d - 4
12. a - 4, b - 3, c - 0, d - 0
13. a - 0, b - 4, c - 2, d - 1
14. a - 1, b - 0, c - 0, d - 4
15. a - 4, b - 0, c - 2, d - 0
16. a - 0, b - 4, c - 1, d - 1
17. a - 2, b - 1
18. a - 1, b - 2
19. a - 1, b - 2
20. a - 1, b - 2
21. a - 2, b - 1
22. a - 1, b - 2
23. a - 1, b - 2
24. a - 1, b - 2
25. a - 2, b - 1
26. a - 2, b - 1
27. a - 1, b - 2
28. a - 1, b - 2
29. a - 1, b - 2
30. a - 2, b - 1
31. a - 1, b - 0, c - 1, d - 0, e - 1, f - 0, g - 1, h - 0, i - 1, j - 0
TOTAL POINTS POSSIBLE: 97
97-79 POINTS: A PRIME CANDIDATE. Congratulations! If you have answered the quiz questions frankly and received a score in this range, your personality traits, attitude, experience and temperament are good matches with the attributes many franchisors say are found in their most successful franchisees. You likely have a well-defined desire to learn and a willingness to follow directions in the quest for your own success. If you are financially able to do so, we strongly suggest that you pursue becoming a franchisee. Good luck!
78-50 POINTS: A POTENTIAL CANDIDATE. Many of your traits are close to those found in top franchisee candidates; however, you may not be completely committed to the concept of running a franchised outlet of someone else's business. Although you may be definitely interested in becoming a franchisee, your quiz answers indicate you might have some differences in opinion as compared with more traditional candidates-perhaps you have a strong streak of independence or are more comfortable giving directions than taking them. If you ascertain those areas in which you differ from the model franchisee, you may be able to determine if these are fundamental differences (which may mean franchising isn't for you) or are merely slight discrepancies. If the latter is true, you, too, could turn out to be a good franchisee candidate.
49-0 POINTS: A QUESTIONABLE CANDIDATE. A low score on this test might simply indicate that you would be more comfortable and successful as an independent business owner or as an employee of an independent business or a large corporation. Becoming a franchisee is not for every personality type; you may be more independent and have a stronger business background than most franchisees. Rather than trying to squeeze your individual talents into a field for which you may not be well suited, you should probably seek other opportunities. If you still feel you are strongly committed to becoming a franchisee, examine the choices you made on the test that differ from the suggested answers. Doing this can show you which areas in your personality or background you need to reassess to improve your chances at becoming a successful franchisee.