Have you identified a franchise business model that aligns with your personal goals and preferences?
Yes (mostly agree)
No (mostly disagree)
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Do you have sufficient financial resources (or a financing plan) and a cushion of savings to comfortably invest in a franchise?
Yes (mostly agree)
No (mostly disagree)
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Are you comfortable with the possibility that you might not make a profit for months (or even a year or more) after opening, and can you handle that financially and emotionally?
Yes (mostly agree)
No (mostly disagree)
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Are you willing to work hard – potentially 50+ hours a week in the beginning – to get your franchise up and running successfully?
Yes (mostly agree)
No (mostly disagree)
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Do you have a plan to manage the business without sacrificing your personal/family life in the long term?
Yes (mostly agree)
No (mostly disagree)
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How comfortable are you with managing other people? (Answer “Yes” if you either have management experience or you’re confident you can hire, train, and lead employees. If managing a team isn’t something you want to do, have you thought about franchises with very few employees or hiring a general manager?)
Yes (mostly agree)
No (mostly disagree)
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Can you follow established rules and systems faithfully, even if you sometimes think you have a better way?
Yes (mostly agree)
No (mostly disagree)
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Do you consider yourself coachable and willing to ask for help or guidance when needed?
Yes (mostly agree)
No (mostly disagree)
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Have you thoroughly researched how much support the franchisor provides, and are you okay with operating within that framework?
Yes (mostly agree)
No (mostly disagree)
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Are you prepared to sign a long-term contract and stick with the franchise for many years?
Yes (mostly agree)
No (mostly disagree)
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Do you have an exit strategy or contingency plan in case you need to leave the business?
Yes (mostly agree)
No (mostly disagree)
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Is your primary motivation for owning a franchise aligned with long-term success (such as building wealth/business equity or achieving a better lifestyle), rather than expecting a quick fix or instant income?
Yes (mostly agree)
No (mostly disagree)
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Are you confident in your ability to handle the various aspects of running a business, or willing to learn what you don’t know?
Yes (mostly agree)
No (mostly disagree)
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Do you consider yourself resilient and adaptable in the face of challenges or setbacks?
Yes (mostly agree)
No (mostly disagree)
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Will you commit to doing comprehensive due diligence before buying a franchise?
Yes (mostly agree)
No (mostly disagree)
Total
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