Are you suited to franchising?

As with any new business venture, you need to carefully consider whether you have got the right skills and attitude to run a successful franchise. Analysing your own temperament can also help you decide which type of franchise would be right for you.

Assess yourself

You must be prepared to sell. A franchise gives you a business blueprint – but it won’t give you customers.

Do you have the necessary stamina? You’ll need to work hard, probably for long hours.

Think how you react to pressure. Running your own business can be stressful.

You may be starting up in business because you want to be your own boss. If so, would you be happy with the restrictions imposed by a franchise arrangement?

On the other hand, you may want to limit your risk. You might be more comfortable with a franchise than starting a new business from scratch.

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