Do you have what it takes to be a successful franchisee? Start by making a list of your interests and skills, and do a self-assessment using some of the suggestions in chapter 4. Next you need to narrow the field of thousands of different franchise systems. Go to Franchise Handbook Online
() where you will find articles with checklists to help you thoroughly research a franchise and its industry, as well as a directory of franchise opportunities. Armed with this information, complete the following requirements.
- Describe the selected franchise opportunity and the franchisors in the transaction.
- Develop a questionnaire containing a minimum 5 questions to evaluate a prospective franchise.
- Describe the franchise financial obligation.
- If you had the necessary financial resources to acquire the franchise are you ready to be a franchisee? Explain why or why not?