8 Traits of Successful Franchisees Thinking about buying a franchise? It's not for everyone. Columnist Jeff Elgin says these personality types are most likely to succeed.

By Jeff Elgin

Opinions expressed by Entrepreneur contributors are their own.

8 Traits of Successful FranchiseesMany people believe franchise ownership is for the classic entrepreneur – the type A personality with the desire to blaze new trails in the business world. The truth is actually quite different.

Franchising is all about following a proven system in order to replicate the success of the original business. That's why "Steady Eddy" types who are willing to trust the system make better (and happier) owners than "disrupter" types with independent streaks.

Besides the ability to follow a system, there are eight personality traits common to most successful franchisees. You can determine whether franchising is right for you based on whether you see yourself in these descriptions:

1. Motivated by Results
You're known to: Focus on production ∙ Create benchmarks ∙ Meet goals ∙ Evaluate results
You understand that action is not achievement. You revere the value of benchmarks and are always evaluating the process in order to achieve results. If a certain course isn't working to meet goals – you immediately change the plan to find an approach that will work better for you.

2. Big Thinker
You're known to: Imagine the future ∙ Recognize necessary tasks
You know that even though working long hours or doing a dirty job may not be the ideal situation at the moment, it will pay off in the long run. You imagine the possibilities for the future as a long-term result that motivates the day-to-day activities. You keep your eye on the prize.

3. Chief Cheerleader
You're known to: Make business happen ∙ Care about success ∙ Recognize efforts
Sitting back and expecting business to just come to you is not your game plan. You're always out there stumping, and you recognize others who exhibit a similar work ethic.

Related: Five Questions to Ask Franchisees Before You Become One

4. Optimist
You're known to: Look forward ∙ Create solutions ∙ Stay positive
You always call the glass half-full. Solutions and opportunities are more obvious to you than problems or hindrances. You take care of problems by solving them instead of wasting time on how they happened.

5. People Person
You're known to: Relate to clients ∙ Keep good morale ∙ Succeed at networking ∙ Be a voice in the community
You are quick to understand that regardless of what business you're in, customers and employees are always the most important thing for achieving success. Building relationships and keeping in good graces comes naturally for you.

6. Seatbelt Enthusiast
You're known to: Like direction ∙ Want a safety net
You take grand precautions in your everyday life. You always look to mitigate the risks involved in activity and want a proven track record in what you participate in. You're not blazing trails while running with scissors – you want security.

Related: Beware of 'Song Birds' When Doing Homework on a Franchise

7. Resilient
You're known to: Trust in the future ∙ Keep setbacks in perspective
You can't be held down in pessimism. Challenges excite you and you know that things will always get better. You keep bouncing back strong from adversity.

8. Cool and Collected
You're known to: Stay Consistent ∙ Keep Composure ∙ Address Issues
You know what is happening around you, but don't panic or cause a scene. Focusing on the essential and important tasks keeps you unruffled and gives your customers and employees peace.

While franchising may not be for everyone, it can be an ideal situation for the right person. These personality traits -- in addition to sufficient financial backing and proper business experience -- are essential to succeeding in the franchising world. If you see yourself in the above descriptions, chances are that you have the confidence, drive and motivation to be a successful franchise business owner.

Wavy Line

Jeff Elgin has almost 20 years of experience franchising, both as a franchisee and a senior franchise company executive. He's currently the CEO of FranChoice Inc., a company that provides free consulting to consumers looking for a franchise that best meets their needs.

Editor's Pick

'Catastrophic': Here's What You Should Know About the Debt Ceiling Crisis — And How a Default Could Impact Your Business
Lock
I Helped Grow 4 Unicorns Over 10 Years That Generated $18 Billion in Online Revenues. Here's What I've Learned.
Lock
Want to Break Bad Habits and Supercharge Your Business? Use This Technique.
Lock
Don't Have Any Clients But Need Customer Testimonials? Follow These 3 Tricks To Boost Your Rep.
Why Are Some Wines More Expensive Than Others? A Top Winemaker Gives a Full-Bodied Explanation.

Related Topics

Business News

'All Hell Is Going to Break Loose': Barbara Corcoran Issues Warning About Real Estate Market, Interest Rates

The "Shark Tank" star appeared on FOX Business' "The Clayman Countdown" this week.

Business News

7 of the 10 Most Expensive Cities to Live in the U.S. Are in One State

A new report by U.S. News found that San Diego is the most expensive city to live in for 2023-2024, followed by Los Angeles. New York City didn't even rank in the top 10.

Money & Finance

3 Ways to Create Multiple (Big) Streams of Income

Here are three ways to create multiple streams of income. These strategies require effort and resources but offer significant financial potential.

Leadership

The Real Reason Why The Return to Office Movement is Failing is Revealed in New Study

There is a vivid sign of the disconnect between employees and their workplace, a glaring indication that companies need to revise their scripts to improve their hybrid and remote work policies.

Science & Technology

She's Been Coding Since Age 7 and Presented Her Life-Saving App to Tim Cook Last Year. Now 17, She's on Track to Solve Even Bigger Problems.

Angelina Tsuboi, a full-stack mobile and web developer who also happens to be a pilot, has always been solution-oriented.

Business News

Roman Roy's 'Succession' T-Shirt Is a $7 Boys Shirt From Walmart — And Now It's Sold Out

Eagle-eyed fans noticed the uncharacteristic wardrobe choice in the series finale.