How do your own skills, desires, and experiences compare to those found among a sampling of successful franchisees? For example, how important is it to have previous experience in the franchisor's field? What traits do franchisors look for in prospective franchisees? The following characteristics were judged to be "critical" to a franchisee's success in a survey conducted by Francorp and DePaul University.

Eagerness to learn. An eagerness to learn is not necessarily to be confused with having an education; although it is a definite advantage to have a high school education, and at least some amount of college can be helpful, less than 10% of those franchisors replying said that any particular level of formal education was a critical requirement.

Willingness to work long hours. Franchisees who want to succeed can expect, especially in the early days of running their units, to work long and hard hours to make their businesses successful. Franchisors require this sort of devotion from their franchisees, and prospective franchisees who are willing and aware of this have a better chance of making it.

Highly developed "people skills." Franchisees have to artfully and diplomatically deal with suppliers, employees, franchisor personnel, and, most importantly, their customers. Accordingly, franchisors look for individuals who are at least somewhat outgoing and communicative and who are able to instill confidence in those around them.

Sales ability. Whether it is pizzas, pets, or paint jobs, every franchise sells something. And while you need not be a master salesperson to survive or succeed as a franchisee, you will need at least some level of sales ability. In a way, the evaluation of this ability will likely start the instant you meet with a franchisor, with an assessment of the way you present yourself, the way you enumerate your skills, and the way you handle their questions.

Resistance to stress. Can your temperament handle busy days and stressful situations? Can you focus on necessary tasks, no matter what distractions and/or deadlines accompany them?

Ability to take directions. In franchising, faith and trust must be placed in the methods the franchisor has developed; directions and requirements are not made capriciously, but rather to benefit the franchisee and the rest of the franchise system. Consequently, franchisees must be able to subordinate many of their personal opinions and desires to those of the franchisor.

Having money in reserve. Franchisors want their franchisees to be able financially to weather any hard times, either early on in the life of a particular unit or during an uncontrollable economic downturn. A franchisee with some money in reserve will be better able to deal with any hard times that may be encountered.