It is difficult and inappropriate to stereotype franchisees. However, there are certain characteristics which are often found in successful franchisees and entrepreneurs, including a willingness to take moderate risks, strong self-confidence, a strong drive for success, and a high need for achievement. As we look at franchisees, we often see individuals who fit this image and who have been very successful in their business activities.

Moderate Risk Taker Any franchisee who enters into the business is by necessity taking a risk. There is not such thing as a sure business venture -- a venture that will always succeed 100% of the time. A franchisee is investing their own money, time, and efforts in taking a financial risk. The franchisee steps into this arena because they have reviewed and studied all the activities relative to the business experience and believe that with their dedication and hard work they will be able to succeed. The franchisee also believes that they will be able to exert some control on the outcome of the business opportunity and are therefore not gambling away their investment on some unknown activity.

Self-confidence Most franchisees have some form of self-confidence or worth. They believe and feel that they can meet the challenges which confront them. They possess a sense of mastery over the types of problems and challenges which they will experience. They know that there will be troubles and problems. They also realize that they will receive sufficient training and information to combine with their own basic skills which will allow them to overcome the obstacles and problems which they face. Successful franchisees tend to be self-reliant individuals and believe in their own ability to succeed.

Desire For Success Most individuals involved in franchising have a very strong desire and drive to succeed. These individuals have looked at the realities of the life which surrounds them and know that through their own diligent efforts that they will be able to succeed and reap the rewards of their personal involvement. Deep down inside there is a strong desire to be able to use one's own talents and prove to one's self that they can succeed and be a vital part of a successful franchise system.

Need for Achievement Different people will always have different degrees of need for achievement. Individuals generally with a high need for achievement like to compete against some standards of excellence and desire to be personally responsible for their own success. A leader in the field of achievement motivation is David C. McClelland who has discovered a positive correlation between the need for achievement and entrepreneurial activity. His findings reveal that entrepreneurs, on the average, have a higher need for achievement than do members of the general population. Franchisees who share this desire generally have higher needs for achievement than other individuals.