I decided to write this franchise blog post because of Entrepreneur® magazine.
It’s all their fault.
From the August edition of Entrepreneur® magazine;
“Joel Libava has had the “franchise quiz” on his website for several years. It’s not particularly scientific or high-tech–Libava hand-scores each quiz himself. But after two decades in the franchise world, the Cleveland native believes he has come up with the right questions to ask anyone considering becoming a franchisee. The quiz isn’t there to tell you whether you should buy a pizza restaurant or an oil-and-lube franchise. It’s there to determine if you should buy a franchise at all.”
Read the rest of the magazine article on the top traits of successful franchise owners, and then pop back.
I Have Feelings
So, Jason Daley, (the reporter who interviewed me for the story) doesn’t think too much of my technical ability…
I’m fine with that, even though my feelings were hurt. But, just because I refuse to use some type of fancy-schmancy software to help a lot of real nervous people figure out if franchise ownership is really for them….
Here’s what I’m saying; the decision to become the owner of a franchise business-any business, is a big one. In my opinion, it’s way too big to use some type of formula…an algorithm-to help determine if someone is right for franchising…I’m just not comfortable automating something that can affect one’s life in such a huge way. (People can lose a lot of money if they’re not right for franchising.)
I Do It The Old-Fashioned Way
Every time a potential franchise owner goes to my Take The Franchise Quiz website, and takes the quiz…I score it by hand. I don’t plug the answers into some type of software tool. I go through every question, and base my score on how they’re answered. (Or, in some cases, how they’re not answered.)
I put together my free franchise quiz around 5 years ago to assist people that are trying to figure out if they should even be looking at franchises. That’s because, one needs to have a certain type of personality to be a successful franchise business owner. And, I definitely don’t posses it. If you are thinking of becoming the owner of a franchise, don’t be like me.
A gentle tip from The Franchise King®:
Do not buy a franchise until you know EXACTLY how to do thorough research.
Learn how here
Is A Carpal Tunnel Repair Franchise Needed?
The article in Entrepreneur® magazine that I referred to above, which is now available online, links to my franchise quiz.
And, it’s hurting my wrist.
That’s because the Entrepreneur.com website gets a lot of web traffic, and some of it is going to my quiz. Which people are filling out.
As a matter of fact, just the other day, I had 38 quizzes staring at me, ready to be scored.
I’m not complaining.
I just wish that I had some fancy-schmancy software to score them.
And, I’m not going to link to my quiz here.
My wrist hurts.