Monday 22 July 2013

A Franchise Evaluation Checklist- Myself

1. Are you qualified to operate a franchise successfully? Do you have adequate drive, skills, experience, education, patience and financial capacity? Are you prepared to work hard? 
Yes. I have all the qualities that mention above and I am willing to work hard.

2. Are you willing to sacrifice some autonomy in operating a business to own a franchise?
I will answer Yes if for a stable franchise like Subway. I am willing to sacrifice and put all my effort in my business.

3. Can you tolerate the financial risk? Would business failure wipe you out financially?
Yes, for sure. I will bear the failure and have a backup. If not, I will sell my business to the next buyer.

4. Can you juggle multiple tasks simultaneously and prioritize various projects so that you can accomplish those that are more important.
Yes. We need to sacrifice somethings in order to complete a task.

5.Are you genuinely interested in the product or service you will be selling? Do you enjoy this kind of business? Do you like to sell?
Yes, I am interested with the product and service which thats why I started this business. I do enjoy this business.

6. Do you enjoy working with and managing people? Are you a “team player”?
Yes, I like working with people. I am a team player, the relationship between me and my staff are very important in order to make the business successful.

7. Will the business generate enough profit to suit you?
I might not earn back the profit in first few months or even a year. But I am very sure my business will generate enough profit for me.

8. Has the franchiser investigated your background thorough enough to decide if you are qualified the operate the franchise?
They will investigate my personal information such as education background, financial information as well as some professional references.  The local development office will guide me through the process while evaluating my skills to meet the challenge of becoming a successful SUBWAY® franchisee.

9. What can this franchiser do for you that you cannot do for yourself?
The advertising and promote part.

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