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Franchising is a great business model, but it's not necessarily right for everyone. These questions will help you think about some of the issues surrounding being a franchisee.

  1. Can you take direction from others?
  2. Are you willing to learn (and relearn) how to run a business?
  3. Do you work well with a team?
  4. Can you be both the leader of your own business and a fellow colleague of the brand as a whole?
  5. Do you have even the incorrect impression that you can change the franchise according to your own market once you sign that franchise agreement? If you think you would have difficulty dealing with an contract that will control most aspects of your business -- down to the color of the restroom tiles -- you may consider opening up your own small business rather than purchasing a franchise.
  6. Are you willing to work with the advertising, marketing, and promotional material supplied to you by the franchisor—even if you think you could come up with something better?
  7. Do you have the personal drive to start up and run a business? Even at 70 hours per week?
  8. Can you procure the necessary capital resources to support yourself and your family through the ups and downs of starting a new business?
  9. Are you comfortable both hiring and firing people?
  10. Will you become irritated at monthly financial reporting of your operation?
  11. Have you discussed the sacrifices that would be required of you with your family?
  12. Are they in agreement with your decision to start a franchise?
  13. Are you comfortable with the loss of company benefits such as health care, retirement, vacation or sick leave?
  14. Are you in good health?
  15. Do you deal well with stress?

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