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
(http://www.franchisehandbook.com (Links to an external site.)) 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?
