Below are some characteristics of a successful business owner. If you are considering opening your own business, consider how many of these you have. Do you have other skills or goals that would help you succeed in business for yourself?

  • Frustrated by lack of advancement opportunities in your current job;
  • Desire for rewards proportional to your efforts;
  • Self-driven and self-starter, not waiting to be told what to do;
  • The courage to convert from employee to business owner;
  • The focus, time and energy to get a new business off the ground;
  • Able to envision the long-term goal to overcome short-term challenges;
  • Able to gather pertinent information and make decisions;
  • Able to honestly assess your strengths and weaknesses;
  • Support and encouragement of family, friends, partner/spouse;
  • Financial reserves to manage expenses until the business produces gains.

To be a successful franchisee, you also need to be:

  • Able to follow the franchise's business model,
  • Open to communication with the franchisor,
  • Trainable in the franchise's methods,
  • Coachable.

To start you thinking about going into business for yourself and franchising specifically, consider reading:

  • "Making the Jump into Small Business Ownership," David Nilssen and Jeff Levy
  • "Franchising: Pathway to Wealth Creation," Stephen Spinelli, Jr., Robert M. Rosenberg, Sue Birley
  • "The EMyth Revisited," Michael E. Gerber

To find your strengths and weaknesses and to explore your personality, consider taking these assessments:

Financing Solutions for your business

Financing is one of the most important components in buying a business or franchise. We'll help you ask the right questions to find the financing that will cover your business situation.

Horizon Franchise Services

We can help you achieve your goal of owning your own business. We'll be there at every step, guiding you through exploration, evaluation, and selection of the franchise that is right for you.

Business Alliance inc. Registered Franchise Consultant

Contact Us

Horizon Franchise Services
Gaithersburg, MD 20878

(301) 642-8568