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The Personality Test: The Link Between Buying a Franchise and Franchisee Success

Is franchisee success in your future? Maybe you'd rather not start with a blank canvas. I don't blame you. I come from a family of company men. When I opened my own law practice, my family thought I'd lost my mind.

When I switched from practicing law to a tutoring service, they were absolutely certain.

For people who come from similar backgrounds, purchasing a tutoring franchise may feel like a safer step. But beware, purchasing a franchise does not guarantee your success.

Let me be very clear here. I'm not saying that purchasing a tutoring franchise is better or worse than building your own tutoring service. It goes back to the personality and financial questions again.

But, just as I believe some people are not suited to start their own business from scratch, I also believe some people are not suited to be a franchisee either.

Look, tutoring franchises want you to succeed, so they don't necessarily want franchisees that are a bad fit. This way they protect their brand, and they don't waste their time and your money. Franchisee success means, the franchisor success. It’s like a joint venture where both parties must succeed, for either party to grow.

I still believe that many of the personality traits I discussed about building a business from scratch also applies here. That even if owning a franchise isn't the same as owning your own business, it isn't the same as working for a company either.

The Big Difference

Here's the difference. If you buy a tutoring service franchise, the franchisor not only has all of the business systems for you to work with, but also expects you to adhere to their systems…they believe franchisee success comes from being able to follow their systems.

This means you have to be a little less maverick, and a lot better at following rules and regulations. You still have to have that "can-do" attitude, and you better be good at solving unexpected problems too.

Franchisees must understand that although the franchise you buy is a business to you, the franchisor has the ultimate say on how it's run. So franchisee success depends on you sacrificing a little autonomy, but gaining a great deal of knowledge, experience and mentoring in the particular business.

Once you buy a tutoring service franchise, your actions in running that franchise will have a much more direct affect on your financial future than when you work for someone else.

So in that regard, I believe that purchasing a tutoring franchise is a better alternative than working for someone else...if you fit the personality type.

But make no mistake, buying a tutoring franchise doesn't guarantee franchisee success, any more than it eliminates the pitfalls of starting your own tutoring service.

And remember this...

You won't be buying a tutoring franchise for $300.00. If you buy a tutoring franchise, you'll be investing a substantially greater amount of your own money into the venture than if you start as a solo tutoring service.

So if you have a worrisome financial mind, take that into account. In fact, the same financial worries I discussed in the starting a business from scratch section could easily apply here.

The comfort you receive with franchises is that the business model is proven to be successful, whereas starting from scratch is not. But again, just because other franchisees are successful, doesn’t guarantee franchisee success for all.

But franchisees also get training and support from the franchise headquarters, and someone to turn to if you run into a really big problem. There is a certain amount of a security blanket to go the franchise route.

A Different Kind of Stress

The worst thing you can do is to be too comfortable with the idea of franchisee success, just because the franchisor is available for help. Remember, a manageable amount of stress is a good thing. It can keep you on your toes.

But, a different source of stress comes to people buying franchises. You're going to have quite a bit of money invested in the franchise. Would it stress you to lose your entire investment? Would it be financially devastating if you did? I've seen franchisor/franchisee relationships that fell apart. It isn't pretty, and if the franchisor no longer cares about the franchisee’s success…you get the picture.

For your own peace of mind, ask the franchisor how many of their franchisees have failed and why. Ask about the level of support that a franchisee can expect to receive on a daily, weekly, monthly and yearly basis. Ask the franchisor what they believe is the single most important service they provide to assure franchisee success. Ask to talk to other franchisees, and when you talk to them, make sure you have a list of questions and be prepared. Dig for honest answers.

So what kind of personality is best for people interested in purchasing a franchise, and do you fit that personality?

Do you work better in structured environments? Do you like the security of a proven business? Do you want to be able to call the corporate headquarters when you run into trouble? Can you work independently within a set of rules? Are you a go-getter? Are you self motivated? Are you a problem solver?

Only you can answer these questions. But make sure your answers are honest, and don't ever fool yourself.




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