Thinking of starting your franchise business?
Franchising is a business opportunity in which the owner (franchisor) of a product, service, or method obtains distribution through affiliated dealers (franchisees). By becoming a franchisee, you can utilize all the resources of the franchisor in running your franchised business. This can be a path for people who would like to take an entrepreneurial calling but don’t want (or rather intimidated) to start from scratch.
People may think franchising is a sure way to earn money, and anyone with the required amount of capital can start their franchise business. However, this is not the case. Most of the time, individuals who fail on this type of venture forgot to do the first step on how to start a franchise business, and that is assessing themselves if they are a good fit for the role.
The thing is, personality traits have a lot to do with the success of a franchise. Do you have what it takes to propel your franchise endeavor to greater heights? Look into these 8 personality traits to determine whether you can be a good fit as a franchisee.
1. Result-Driven
You’re known to: Focus on production ∙ Create benchmarks ∙ Meet goals ∙ Evaluate results
You constantly find various ways that will work best for you. This can be through benchmarking and evaluating the processes to achieve the most efficient result. You believe that by constantly streamlining your processes, you can continuously exceed the goals you have set for your business.
2. Visionary
You’re known to: Imagine the future ∙ Recognize necessary tasks
You have always believed that there is no such thing as an overnight success, and so working long hours or doing dirty jobs don’t even bother you. You have a clear vision for the success of your business in the future and this motivates you on your day-to-day activities. No matter what happens, you always fixate 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.
4. Idealist
You’re known to: Look forward ∙ Create solutions ∙ Stay positive
You don’t dwell too long on the problem itself, but rather utilize your time efficiently on thinking of solutions to solve those problems. You know very well that for every problem, there is a corresponding solution.
5. People-Pleaser
You’re known to: Relate to clients ∙ Keep good morale ∙ Succeed at networking ∙ Be a voice in the community
For you, people will always come first. You fully understand that regardless of what business you’re in, your customers and employees are your biggest asset and so it is important to build a harmonious relationship with them.
6. Calculated Risk-Taker
You’re known to: Like direction ∙ Want a safety net
While it is important to take risks and get out of your comfort zone to succeed, you are also wise enough to know that great precautions should be done to minimize risks in your decisions. You’re not blazing trails while running with scissors – you want security.
7. Tough and Competitive
You’re known to: Trust in the future ∙ Keep setbacks in perspective
For every failure that you face, you make sure to bounce back higher from where you’ve been. Challenges excite you and you know that you learn something valuable by boldly facing them. Nothing can bring you down!
8. Cool and Collected
You’re known to: Stay Consistent ∙ Keep Composure ∙ Address Issues
You always keep your grace under pressure. Whatever the situation is, you don’t panic and address the issue by focusing on the essential and important matters.
As you review the list and carefully analyze your personality, make sure to be honest with yourself. Do you have what it takes to be a successful franchisee? If not, are you willing to take the extra mile and focus on developing these traits and characteristics through your actions? If you are confident (and honest) enough to say YES, then you are one step closer to becoming a successful franchisee. Now move forward and start rocking your franchise business!