Why Skill Assessments Are Crucial for Aspiring Franchise Owners

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Almost everyone has a favorite personality test. Whether you're hooked on zodiac signs, a Myers-Briggs? aficionado, or can't resist a BuzzFeed quiz, uncovering what makes you tick is intriguing. But have you considered how assessments could be a game-changer for finding your right fit franchise business?

As a franchise advisor, I've witnessed firsthand how skill assessments can propel franchise owners toward success. Here are three ways they can make a difference.

1. What makes sense for you?

Not every franchise brand suits every aspiring owner, and that's a hard truth to accept. Some franchise opportunities may seem enticing at first but can ultimately be a poor fit. I've seen it time and time again in my work as a franchise advisor.

Many clients I've worked with have tried their hand at buying a franchise, only to become overwhelmed, disappointed, or unable to keep their business afloat. They end up walking away from their investment. Take Steve, for example!

Franchisee Spotlight: Steve

After being downsized from his corporate job, Steve decided to franchise a business based on his love for a brand of tools he had as a young man. His business was doing well, and he was a good salesperson, but after just a short time, the franchise started to feel suffocating.?

Steve was a very educated person who had been working in the corporate world for a long time. This new routine of driving a truck all day just didn’t bring the fulfillment he had hoped for and felt monotonous.?

"One of the things I did wrong the first time was I moved too fast. This time, I looked at many different franchises with Liz's help and settled on one that I would not have considered on my own." ~Steve Ferrero

He decided to sell his business but wasn’t ready to give up on franchising. After taking a skill assessment, I was able to help him match with a brand that made more sense with his background, lifestyle, and overall business goals. He is happily running this new business today (and this time his wife is on board too!).?

Takeaway: Skill assessments help you align passion and interest with your long-term business goals.?

2. What are you good at?

Many people underestimate the amount of work required to build a successful franchise. Starting a business this way lets you hit the ground running with brand recognition, a proven playbook, marketing support, and a built-in support network to help you toward success—but running a business is still running a business!?

Your success hinges on leveraging all the wisdom you've amassed from various aspects of your life, be it your corporate career, volunteer work, parenthood, or street smarts. GI Joe famously said, "Knowing is half the battle," and this couldn't be truer. Just ask Ruby!

Franchisee Spotlight: Ruby?

Ruby is an intelligent and visionary person who had found success working for a large non-profit foundation but was ready for a switch. After taking a skill assessment, she realized that while managing people, customer service, and sales were among her core strengths, she had significantly less expertise and experience on the financial side of things.?

As she started her franchise journey, Ruby made certain to budget for and find someone who could manage the bookkeeping and accounting for her. She also began training herself to better understand the financial side of the business so she would be prepared for the future. By proactively hiring out these duties, she avoided the pain of struggling through it on her own.

Takeaway: Skill assessments can reveal blindspots that are important to planning how your business will function.

3. What will make your business stronger?

If you have any previous experience in business ownership, you know that no matter how hard you work, your success is rarely due to your efforts alone. The right team, even if it's just a few key employees, is crucial to your franchise's strength. Yet, finding these individuals can be a daunting task.

Skill assessments are a valuable tool to ensure potential hires have the skills, aptitudes, and personality traits that fit your business needs.

Franchisee Spotlight: Sherry & Greg

Sherry and Greg are a married couple who decided to franchise a childcare business. Sherry, an elementary school teacher, and Greg, a former accountant, were passionate about bringing quality childcare to their community with a focus on early education.?

They soon realized that the grind of hiring, training, and keeping staff was a huge drain on their business. They took a hard look at their business plan and decided to start screening all potential employees for a specific focus that aligned with their core values.?

With the help of a specialized skill assessment, they were able to build a core group of talented and reliable teachers and providers. This made it easy to trust they could invest in their people through additional training to further develop their skills.?

Takeaway: Skill assessments can help you find the right talent to run a successful business.?

Set yourself up for franchise success

There are many benefits to skill assessments—and many specialized assessments to choose from, no matter where you are on your franchise journey! Taking this one simple step can give you the data you need to invest in the right franchise and see that it’s run efficiently and effectively for years of success.?

Using a skills assessment is a key component of the Your Franchise Fast Pass? process. Using this comprehensive diagnostic, combined with 1:1 advising, we make sure you have the best selection of franchises to evaluate so you can find your right fit to achieve your dreams.

Liz Leonard is a veteran franchisee and entrepreneur. As a franchise advisor, she’s spent the last two decades helping others make their entrepreneurial dreams a reality via franchise ownership. With a passion for educating her clients to make the best and most informed decisions, she has a step-by-step process for finding the right franchise option in 6-8 weeks.

Want to learn more about franchising and whether it is the right path for you? Grab a FREE copy of Liz's book, "Your Franchise Fast Pass?: Your Step-By-Step Guide to Finding Your Ideal Business," at https://www.franchisefastpassbook.com