Thursday, December 20, 2012

A franchise evaluation checklist - myself



1) Are you qualified to operate a franchise successfully? Do you have adequate drive, skills, experience, education, patience, and financial capacity? Are you prepared to work hard?
I would be qualified and able to operate a franchise successfully. Although I do not have adequate skills and experience but I have adequate drive, patience, and education in marketing, and green knowledge as I would do as much as possible of research and survey to elevate the experience and confidence to start up a franchise. I would solve the financial capacity by collaboration with relative or friend who is interested and has experience in operating the Loving Hut franchise. I would prepare to work hard in to spread to mission and vision of Loving Hut worldwide. 
2)  Are you willing to sacrifice some autonomy in operating a business to own a franchise?
I am willing to sacrifice some autonomy in operating a business to own a franchise such as Loving Hut. I would like to spread the mission and vision of Loving Hut to my hometown which is Sabah and let the people of Sabah to enjoy a delicious, healthy and affordable cuisine. 
3) Can you tolerate the financial risk? Would business failure wipe you out financially?
I can tolerate the financial risk although business failure would wipe me out financially. Because of the noble and meaningful to spread the mission and vision of Loving Hut across the world, so no matter how hard is it, I would try my best to operate the franchise. 
4) Can you juggle multiple tasks simultaneously and prioritize various projects so that you can accomplish those that are most important?
I cannot juggle multiple tasks simultaneously and prioritize various projects so that I can accomplish those that are most important because I would like to do a task with one mind in order to complete the task successfully. 
5) Are you genuinely interested in the product or service you will be selling? Do you enjoy this kind of business? Do you like to sell?
I am genuinely interested in the cuisines and foods I will be selling and I enjoy this kind of business and like to sell it because of the mission and vision of the Loving Hut, it is very meaningful to operate it. 
6) Do you enjoy working with and managing people? Are you a “team player”?
I am enjoying working with and managing people and I am a team player. As I do not have enough experience, so I would collaborate with partners to operate the franchise to elevate my confidence to start up a franchise. In order to operate a franchise successfully, communication and collaborate with employees and partners is very important. I would use love to build relationships and collaborate with partners and the employees. 
7)      Will the business generate enough profit to suit you?
The cost of the raw material of the Loving Hut is very high as all the material use is in high quality. Thus, the business is able to earn the profit but just earn little. The business would generate enough profit to suit me as long as it does not suffer loss because people should contentment. If I earn enough profit, I would open another franchise at another place.

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