FranUnite Small Franchise Business Owner Aptitude Profile – Part II

This portion of the test measures your Entrepreneurial Commitment (EC), an important ingredient for success as a Small Franchise Business Owner. Answer the following 15 questions as honestly as possible to determine if you have the right mindset and commitment to manage a small franchise business.

1. I need to control everything and like to make all the decisions myself. How true is this statement of you?

a. Partially true

b. Completely true

c. Completely untrue

2. Are you able to handle the day-to-day operation of a franchise business that often includes taking over the duties of an absent employee?

a. Yes, definitely

b. Not sure, but would give it a try

c. No, it would be too difficult

3. How strong is your motivation and drive to achieve success?

a. Extremely strong. Nothing will stand in my way!

b. Strong, but other things in life are also important.

c. Success in business is not one of my goals.

4. Do you equate buying a franchise to "buying a job"?

a. No, not at all

b. In some ways. I am tired of job interviews.

c. Definitely. I am unemployed.

5. Are you prepared to work long hours to make the business succeed?

a. Yes. As long as it takes.

b. Maybe, if it doesn’t interfere with my recreation time.

c. No. Life is too short to work so hard.

6. Are you able to work without supervision and a support staff?

a. Yes, definitely

b. I would give it a try, but I work better with a structured staff.

c. No, I am too used to working with a boss and other staff.

7. Are you able to organize your time and set priorities?

a. Yes, I almost always do "first things first" and then go through the rest of the tasks.

b. Yes, except if things get too hectic, then I seem to fall apart.

c. Yes, but I don’t like to plan ahead. So sometimes things are done on time, and sometimes they are not.

8. Have you had at least five years of managerial or teaching experience?

a. Yes

b. Less than five years managerial or teaching experience

c. No managerial or teaching experience

9. Have you ever hired and fired employees?

a. Yes. I have done both without problems

b. Yes, but I hate it…especially firing employees, so I tend to allow poor employees to stay on.

c. No. It was never part of my job.

10. Have you ever trained personnel?

a. Yes, and the majority of people work out well and stay on the job.

b. Yes, but it is not my favorite chore, and many new hires leave.

c. No

11. How do you feel about performing a sales function?

a. I like making sales and like to convince people to buy my product or service.

b. I am not crazy about making sales, but I know it is an important function.

c. I hate to make sales and would not expect to be involved in sales in any way.

12. Do you presently have sufficient capital (through personal funds or loans) to get through the start-up phase of the business?

a. Yes, I have been planning for it.

b. I don’t have it now, but I have a pretty good idea where I can get it.

c. No. I hope to start making money immediately.

13. Franchisees often sign documents with investors, lending institutions, leasing companies, etc. Are you mentally prepared for financial risk?

a. Yes. I understand and accept the risk.

b. Yes, but I would be shattered mentally and emotionally if I lost money.

c. No. I worked too hard for my money to put it at any kind of risk.

14. Is your spouse supportive of your starting a business?

a. Yes, very.

b. I don’t know.

c. No, not at all.

15. Do you give up easily if things don’t go as well as planned?

a. No. I am very persistent.

b. Sometimes I give up pretty easily, but other times I persist.

c. Yes. I go on to the next challenge.

Scoring:

Give yourself 3 points for every (a) answer, 2 points for every (b) answer, and 1 point for every (c) answer.

If your score is 40 – 45 Good News! You have the basic qualities and experience to have great success as a Franchise Business Owner.

If your score is 32 – 39 Be careful! Think through your responses to the questions and reassess whether franchising will work for you.

If your score is 0 – 31 Looks like trouble! Your responses indicate that either you will not be very happy or won’t be successful as a franchise owner.

Thanks for taking the time to complete this profile. We hope that it has been helpful to you to get a sense of how your aptitude measures up to other successful entrepreneurs and franchise business owners. We look forward to working with you to determine your next steps

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Note:  While the results of this test are based on traits, characteristics, and qualities of successful business owners,  FranUnite does not guarantee or take responsibility of the success or failure of any business based on the results of this test.