Weight Loss Franchising Fitness Professionals Are You Suited?

By Erak Simsson Founder & Director of Coach Me Slim & Trim®

 

Weight Loss Franchising is often mistakenly seen as an easy option to get into business. Well yes it’s very easy to spend your money but this will not guarantee your success. Do you actually have the necessary attributes to be a successful franchise?

Take the self analysis below and be honest – what’s the point in kidding yourself, it will only cost you money!

Questions

Answer all questions on a piece of paper with an A, B or C response. Don’t skip to the end to get the points allocation before you have completed the analysis.

1. Do you need to control everything and like to make all the decisions yourself? How true is this statement?
A. Partially true
B. Completely true
C. Completely untrue

2. Are you able to handle the day-to-day operation of a weight loss franchise business, which may mean taking on additional classes in the absence of a trainer?
A. Yes, definitely
B. Not sure, but I would be prepared to consider it
C. No, it would not be acceptable

3. How strong is your motivation and drive to achieve success?
A. Extremely strong
B. Strong, but other things in life are also important
C. Success in business isn’t one of my goals

4. Do you equate buying a weight loss franchise with ‘buying a job?
A. No, not at all
B. Yes, in some ways
C. Yes, definitely, I’m unemployed

5. Are you prepared to work long hours to make the business a success?
A. Yes
B. Maybe
C. No

6. Are you able to work without supervision?
A. Yes, definitely
B. I would give it a try
C. No, I’m too used to working with a boss and other staff

7. Are you able to organise your time and set priorities?
A. Yes. It’s the way I operate
B. Yes, sometimes
C. No, I’m always behind  time-wise

8. Have you had more than 3 years business or teaching experience?
A. Yes
B. Less than 3 years
C. No, never had any business or teaching experience

9. Have you ever hired and fired employees?
A. Yes
B. Yes, but I hate it, especially firing employees
C. No

10. Have you ever trained personnel?
A. Yes, and I’m good at it
B. Yes, but I hate it and don’t do a great job
C. No

11. How do you feel about performing a sales function?
A. I like making sales and like to convince educated people about buying a service
B. I’m not crazy about making sales but I know it’s an important function
C. I hate to make sales and would not expect to be involved in sales in any way

12. Do you presently have sufficient capital (through personal funds or loans) to get through the start up phase of the business?
A. Yes, I’ve been planning for it
B. I don’t have it now but I have a pretty good idea where I can get it
C. No, I hope to start making money immediately

13. Weight Loss Franchisees often sign documents with investors and lending institutions and maybe leasing companies and others. Are you mentally prepared for financial risk?
A. Yes, very
B. Don’t know
C. No, not at all

14. Is your spouse supportive of you starting a weight loss franchise business?
A. Yes, very
B. Don’t know
C. No, not at all

15. Do you give up easily if things don’t go as well as planned?
A. No, I am very persistent
B. Sometimes I give up pretty easily, but other times I persist.
C. Yes, I go on to the next challenge

SCORING
Give yourself 3 points for every A answer, 2 points for every B answer, and 1 point for every C answer. Total up all the points.

HOW DID YOU SCORE?

45 – 40 points: Good news, if you’ve been thinking seriously about owning a franchise. You have the basic attributes and experience to succeed.

39 – 33 points: Be very careful! Think through your responses to the questions and re-assess whether franchising will work for you.

32 points and below: Looks like trouble! Your responses indicate that either you won’t be very happy or won’t be successful as a franchise owner.

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