"Entrepreneur's Checklist" Helps Reveal Aptitude for Small Business Ownership

FranNet
Published: January 4th, 2011

FranNet says an honest evaluation of motives and skills is a critical first step for success

Louisville, KY (Grassroots Newswire) - As the economy continues to struggle toward recovery, the opportunity presented by franchise ownership continues to grow in appeal for many with an entrepreneurial spirit, according to the franchise experts at FranNet.

"Small business ownership isn't for everyone," said Jania Bailey, President and COO at FranNet. "But, for the right type of person, in the right circumstances, owning a business can bring financial and personal rewards far exceeding those offered by more traditional job paths."

For individuals interested in exploring the idea of small business ownership, Bailey offers this short "Entrepreneur's Checklist" to help evaluate their readiness and aptitude for taking on this challenge.

• Understand your own motives. Make a list of the positive things you expect to gain from small business ownership, and then make a list of the disadvantages of being in business for yourself. Be specific, and be honest. You may find that the disadvantages for your particular family or personal situation outweigh the advantages.
• Assess your entrepreneurial qualities and the attitudes of your family as well. Are you willing to put in the hours to get your business started? Is your family willing to support you? Are you willing to invest more in your business than your lifestyle to support growing your business initially?
• List your business skill strengths and weaknesses. Do you have the skills, experience and qualifications to handle your own marketing, finance, planning and management tasks? Are you willing and able to learn the skills that you don't have or will you need to hire others to handle those tasks?

"This checklist is designed to help individuals begin to develop their own entrepreneur profile," said Bailey. "Once you have made the decision to own your own business, there is help available to assist you in choosing the right business opportunity, market, and physical location. But only you can decide if small business ownership is right for you."

FranNet franchise consultants help people who have decided to explore entrepreneurship investigate a variety of franchise business ownership options. They offer direction, information, resources and support to help people find a business model that meets their individual needs.

"For many first time entrepreneurs, franchise ownership provides a time-tested entrée into business ownership," adds Bailey. "The franchise model provides established guidelines and support for marketing, sales, supply and management practices, giving the new business owner a "jump start" into the world of business ownership. With many of the critical start-up challenges already met, a new entrepreneur can channel time and energy into creative ideas for establishing and growing the business."

For more information about FranNet, please call 1-800-FRANNET or visit www.frannet.com.

About FranNet

FranNet provides free guidance and information to individuals who are interested in purchasing a franchised business. Our role is to educate entrepreneurs on the franchise industry to help clients determine if franchise ownership is for them. FranNet works with many of the best franchises in the industry and FranNet consultants use a special profiling and consultative process to determine the right franchise opportunity and business model unique to each person. Our services are 100% free through the entire process. FranNet hosts numerous informational seminars and educational programs that are open to the public each month throughout the country and online. To learn more about opportunities with FranNet visit www.frannet.com.