IS FRANCHISING RIGHT FOR ME

"Once you find something you love to do, be the best at doing it" is a quote that truly inspires one to select the best occupation according to our personality as well as interest. Similarly, entrepreneurship also is different and not everyone's cup of tea. Some are born leaders while others are great at following. In the arena of franchising, being a franchisee is not without its cons. Let us have a look at what takes it to be a 'Perfect Franchisee'!

- Abha Garyali Peer

It is a fact that franchising is the safest way to develop and expand any business. However, it is also true that franchising is not for everyone. Each franchise opportunity may have different requisites from its franchisees.

Whether one takes a franchise of any QSR or retail or service franchise, depends entirely if one’s personality is fit for being a franchisee. Being an entrepreneur is quite different from being a franchisee.

Many investors invest in a franchise just to wear the entrepreneurial hat. For any potential franchisee, its significant to understand that all entrepreneurs can’t be franchisees. In a franchise relationship, all the rules and regulations of running the business have already been laid down by the franchisor. All that a franchisee needs to do is follow them without making alterations. On the other hand in one’s own business, one need to start from scratch, there are no processes of an already successful business. So if you want to be the boss and run a business in your way then maybe being a franchisee is not your way.

It’s true that franchisees are required to put in tremendous effort to launch their business and must work extremely hard at their capacity. However, simply hard work does not guarantee success in the franchising business. There are certain other traits, which must be present within a person for them to consider becoming a franchisee.