Thinking about buying a franchise? It’s not for everyone. Columnist Jeff Elgin says these personality types are most likely to succeed.
Many 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.
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