Ask an Expert: Want to start a franchise? Try this quiz

ByABC News
December 23, 2008, 3:48 AM

— -- Q: One thing I am thinking about for the new year is starting a franchise. There is one out there I like a lot and which I think would be successful both in this economy and in my area. But how do I know if I would make a successful franchisee? I have always worked for someone else. Sam

A: The Franchise Times once conducted a survey of the "average franchisee." What they found was that the standard franchisee is male, in his mid-40s, owns a few franchises, works more than 50 hours a week, and went to college.

But don't worry if this does not describe you. Franchisees come in all varieties.

Potential franchisees are people looking for a change, maybe someone in mid-career, maybe even someone who was recently laid-off. They like the idea of owning a business but want some help. They appreciate that with a franchise they are buying a brand as well as getting someone who can and will help them.

By the same token, franchisors want and need good franchisees, for several reasons. First, a successful franchisee builds the brand, while an unsuccessful one hurts the brand. While unsuccessful franchisees can be litigious, successful franchisees become valued business partners. From the franchisor's point of view then, a good franchisee should be:

A person who is highly motivated and enthusiastic

A hard worker

Someone who is coachable, that is, someone willing to take direction

Someone also willing to try new ideas and ways of doing business

Someone with relevant experience

One of the great things about starting a franchise, especially in a tough economy, is that it should reduce the inherent risk of the start-up. Whereas a new business start-up, sans franchise, is a bit of a crapshoot, with a franchise you are getting a system that should have been properly vetted, thereby making the entrepreneurial venture less risky.

But the question remains: Would you make a good franchisee? To help you decide, take the following quiz. As you answer, please be totally honest with yourself. Some answers may seem like the right one, but it really does you no good to answer the question correctly if it does not really help you understand your franchisee aptitude. Buying a franchise is also a major commitment of time and money, so there's that reason too.