The 7 Most Important Traits of a Good Franchisee

Owning a franchise can certainly be a great way to earn a significant income by becoming your own boss. It is, however, a big decision. Begin by understanding that owning a franchise is not for everyone. If you do not feel that you have what it takes to succeed in such a business for yourself, it is probably best to look for another type of business. There is nothing wrong with that because remember that franchises do require some start-up capital to be put up in order to open.


Many people do possess the following traits, however, and for them opening a franchise could be a great move. Consider the following 7 characteristics of a good franchisee:

1. Be Reliable

If you are going to be a franchisee, remember that you are going to be spending many hours and a lot of money developing a particular brand. For your business to be successful, you need to prove to the franchise that you are reliable enough to keep up the solid reputation that the brand has earned throughout the years.

2. Have Leadership Skills

Do you possess the skills that would make a good manager? As a franchisee, you will need to lead others on the team to excel. This means that you should have developed skills to this point in both your personal and business life that will make you an effective leader in a business situation. You need to be able to deal well with both, and this includes customers, suppliers and employees.

3. Display Good Judgment

As a franchisee, you will need to make solid business decisions that help the company be successful in the long run. This means being able to decipher through good and bad decisions, and opt on the side of good a majority of the time.

4. Be Willing to Learn

If you are new to the business, you can still be very successful as a franchisee, but you need to be willing to learn. Research every aspect of the franchise before determining that it is the right fit for you. Look for articles that talk about being a successful franchisee; strive to learn as much as you can before putting up a considerable amount of money to start one of your own.

5. Be Hard-Working

Owning a franchise is going to require a great deal of time. This will probably be the hardest job you have ever had, so be ready to work hard to achieve your goals. In essence, becoming a franchisee should not be viewed as a get-rich-quick scheme.

6. Have Proficiency at Networking

Learn how to network effectively with others. You will need to develop a customer base, learn to form solid relationships with suppliers, and build partnerships with community members.

7. Show Some Level of Financial Awareness

This goes without saying, but a successful business owner understands how to manage cash flow, particularly the first few years when you are still building a name for yourself.


If you possess these qualities, and you have a passion for the product or service you are selling, you just might have what it takes to be a successful franchisee.