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The Franchise King®'s Free Franchise Quiz
(Over 6,700 people have taken this quiz!)
This totally unscientific quiz-which I grade myself, will give you the insights you need to help you determine if you are right for franchise ownership. But you MUST type in your email address! It's the only way I can send you your personalized score. Enter it now.
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Why are you interested in becoming your own boss now? What's going on in your life that's got you interested buying a franchise?
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Do you consider yourself a good team player?
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Yes
No
When your supervisor asks you to do a project, do you tend to follow the way it has been laid out?
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Yes
No
Would you be comfortable as a "team leader?"
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Yes
No
Maybe
Are you comfortable using your employer's business systems?
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Yes, I'm good at following systems
No, I like my own systems
Do you consider yourself to be a flexible person?
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Yes
No
Kind of
Have you supervised others before?
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Yes
No
Do you consider yourself to be a good "idea" person?
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Yes
No
Somewhat
In a franchise business system, it's common to have a very detailed operations manual. Will you follow it closely?
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Yes, that's why I want to buy a franchise
Maybe-It depends if it works or not
No
In a new franchise start-up, it's pretty common to NOT be able to take any money out of the operation for the first year. (But, sometimes you can) Do you have the financial resources needed for your living expenses during the start-up stage?
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Yes, my financial position is good enough to get me through the start-up phase
Maybe-it depends on how long it will take to make money
No-I need to make an income quickly
As you look back on your work life, would you consider yourself to be a rule follower, or are you a person that tends to make your own rules, to achieve the desired results?
Yes, I'm a rule follower, and I'm okay with it
No, I've made the rules, and I still want to
Are you thinking about getting a franchise of your own because there's already a system in place?
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Yes, that's why I want to own a franchise-type business
No, I just want to own and grow a business quickly, system or no system
Are you willing to pay a percentage of your gross sales every month to the franchise company for the right to use their system?
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Yes-I'm fine with that-it's just a part of franchising
No-I really don't want to pay royalties, and that may stop me from doing this
Maybe-I'm not really thinking about it yet
Why do you feel that a franchise company would want to award you a franchise? Please explain in one or two sentences. (This is important!)
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What is your approximate net worth? (Add up your assets and subtract your liabilities-the difference is your net worth)
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Under $250,000
$250,000-$350,000
$351,000-$500,000
$501,000-$750,000
$751,000-$1 Million +
I'm not sure*
*Good news! If you need help determing your current net worth, use my...
Free Net Worth Calculator
Are you willing and able to write a check for $50,000-$100,000 of your own money? (Before a bank loan?)
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Yes, I am able to do that
No- I don't have that kind of money available right now
Maybe
Are you willing (with help, if needed) to write a formal business plan to present to a lender for a loan?
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Yes, I know that I'll need a great business plan in order to obtain a small biz loan
No- I don't think that I'll need one
Maybe-if it's proven to me that I really need to have one
Are you willing to do whatever it takes, (legally, of course) to become your own boss at this stage of your life?
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Yes, I'm willing to do whatever it takes; I've had it with working for others!
No- I'm interested in business ownership, but I can go out and get a job, instead
Maybe- I don't know yet. It depends on if I can find a franchise that makes sense for me to own
Will "doing whatever it takes," include investing in books, guides and consultations that will help you lower your financial risk?
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Yes, I'm interested in getting the help I need. I want to do this right!
No-I'm going to do this alone; I can handle it
Maybe-but I may need to be convinced that I really shouldn't do this alone
Does your spouse, partner, or significant other know about your interest in owning and operating a franchise business?
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Yes
No
Not yet...but soon!
Is there anything that you would like to add that will help me-The Franchise King®, get a better feel of who you are?
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