If you value following a system and want to start your own business, franchising could be a great fit for you. After all, franchise ownership is about being a "systempreneur" more than an entrepreneur. But how do you find the right franchise for you? Which type of franchise best fits your personality and goals? To figure this out, you need to understand exactly what drives your systempreneur spirit.
Over many years analyzing and helping franchisees, I have observed seven basic systempreneur franchisee personality types. You may fit into a few, but one likely dominates. Let's discuss each one's characteristics, and how they can shape your search.
1 The Inventor
You like to create. You don't need or don't want a playbook. If a process exists, you tend to ignore it or reverse engineer it to find a better way. You dream of new products, brands, and businesses. You're a "true entrepreneur." But here's the thing: Franchising is all about system conformity. Since you chafe under someone else's rules, being a franchisee is probably not a good fit. However, starting a franchise from scratch (assuming you like the franchise model as a market expansion strategy) is something to consider. You will invent systems and processes for others to follow. But you will be the creator the franchisor.
2 The Maverick
You want existing systems because you value speed and expedience. You're also okay with a bit less structure, because you're an early adopter and an energetic self-starter. You like to stake out prime territory first. You were likely promoted many times in your corporate life because you delivered the goods and got noticed. Or you've been a serial entrepreneur.
FOCUS YOUR FRANCHISE SEARCH ON:
Emerging brands (with enough processes in place)
Regional brands
This story is from the Startups - Spring 2023 edition of Entrepreneur US.
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This story is from the Startups - Spring 2023 edition of Entrepreneur US.
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