A PROFILE OF THE SUCCESSFUL FRANCHISEE

Franchisee Consulting Group, Inc., embraces the job of helping you evaluate your own abilities. Our confidential discussions will reveal whether you are truly ready - and able - to be successful as a franchisee.

Our experience has helped us profile the qualities of a successful franchisee.

The successful franchisee is one who has a positive and upbeat approach to life.

The positive person is one who fills others with enthusiasm. This holds true for both his or her employees and the customer. This shows in ones relationships outside the job, including ones family and friends. Even if the franchisee that one seeks to buy does not include the hiring of employees or direct contact with the public, the positive attitude will fuel ones ability to resolve the inevitable problems that any business encounters.

The successful franchisee is one who has the ability to learn and understand business management.

The successful franchisee is one who is willing and able to learn and understand general business concepts and management. While this may seem self-evident, the fact is that hundreds of people each year purchase a business for which he or she has no aptitude and for which he or she is unable to learn. This inability is not a character defect or a reflection on ones intelligence. Instead it is fact of life: there are some things that we are not built to do. Owning a business can be a stressful and will certainly be filled with hurdles to overcome. Not all personalities are equipped to handle them. For such a person, having a salaried job is a better alternative.

The successful franchisee is one who has thoroughly researched the franchise opportunity before it is purchased.

Once again, hundreds of people each year purchase a franchise without taking the time to research the opportunity. Such research includes a careful review of the offering circular, consultation with knowledgeable legal and financial advisors, and, most importantly, feeling comfortable in asking the franchisor questions for which satisfactory answers are given.
You can be successful only if you believe in your franchisor and trust its ability to deliver the services that its promises.

The successful franchisee is one who has the financing needed to operate the franchise during the Aramp-up@ period.

It is usual for a new business to experience losses for the first 6 months of operation. Though the Federal Trade Commission (FTC) requires franchisors to estimate your operating capital for only a 3 month period, our experience demonstrates that a minimum 6 months of reserves are necessary. The ability to fund this period of time is critical to the success of the business. We have all heard the statistic that 80% of the new businesses close within the first 18 months. This more often than not happens because of insufficient financing.

The successful franchisee is one who feels comfortable with and is committed to the success of the business on a day-to-day basis.

Not all franchises require the franchisee to commit his or her full time to the business. Our experience however is clear: the successful franchisee is one who is involved with the business on a day-to-day basis. No one, not even the most committed manager, will care about the business more than you do. It is your money, sweat, and business life which are invested in this project. Though you may not have to be at the franchise site every day, your contact with the business - even something as small as a phone call - helps insure the success of the business.

WE WILL HELP YOU CHOOSE THE FRANCHISE THAT IS RIGHT FOR YOU.