Published on 30 Jun 2022 Time 6 min read Last update by 29 May 2024

What business should I start quiz (2023)

start a business

Are you wondering what small business you should start off with? If you’re ready to start a business or if you are just exploring business opportunities available, we have designed an entrepreneur quiz that you can take to find the perfect business for you. Read on to know why we think so:

What is your top goal in owning a business?

When you are just starting off, there can be multiple reasons you might want to start a business like Flexibility, Financial Gain, Quality of Life, Being Your Own Boss, etc. We feel like we should have all the necessary details before we recommend you any business so that you can truly understand which businesses are for you.

Which industries are you interested in?

We want to truly understand your needs and your ideas when you want to start a business. If you are looking to start a business in the food and beverage industry, we do not want to recommend you a business that is not in that industry because you might not like it. Also, sometimes people are existing industries and want to enter into a new business in the same industry but do not New what they want. this question helps us narrow down the prospective business you might want to look into and help create the perfect blend of businesses to recommend to you. If you do not have a particular industry in mind, you could also choose the open to any option.

When would you like to open your business?

At VettedBiz, We want to account for any prior commitments you might have. for example, you might want to start a business only a year from now but might want to start the process of starting the business today and we can help you with that. similarly, you might want to get into a business immediately and This question helps us understand what your timeline for starting a business is. For example, if you want to start a business tomorrow, we do not want to recommend something that has a waiting list or a Startup period that requires a long consultation with the franchisor.

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In U.S. dollars, how much total cash would you be willing to comfortably invest?

Finances are always a big thing while opening a business. we do not want to recommend a business that might be outside of your budget range and demotivated from starting a business. businesses are great opportunities to make money if you can get into the right business and manage it properly. This question helps to determine how much you might be willing to invest in the business and we run that against our database of thousands of businesses and franchises to recommend only the best opportunities that we think you might like.

Are you an American Citizen or Green Card Holder?

If you are not an American citizen or green card holder there may be additional restrictions on you before you a business. you might also need other necessary paperwork which our partners at Visa Franchise might be able to help you with. Also, if you are not an American citizen or green card holder,  you are not going to be eligible for financing from the small business association, 401k rollovers, etc.

Have you owned and operated a business before?

Having some knowledge of your industry before starting and how to do business in general definitely helps. That said, we also have businesses that new entrepreneurs looking to start from scratch might find more attractive than others due to various factors like fewer complications with inventory, more or less hands-on jobs, and so on.

Some franchises also require a certain number of years of business experience in a certain industry before you can start a franchise with them – we do not want there to be surprises for you once you’re into the business process.

Do you prefer to take more risk for higher reward or follow a more prescribed path to financial success?

Basically, what we want to figure out using this question is whether you want to go for the high-risk high-reward route with a franchise (that might be new to the market but people have not yet recognized its true potential and might take off very soon and make lots of money but might also fail) or if you want to play it safe with a company that might have an extensive network already established which will have smaller margins or longer investment recovery periods but are definitely going to do so.

Where are you currently in your career?

We just want to know whether you are a student, a retiree, a veteran, or someone that is currently working a job so that we can figure out what level of business dedication you might have to commit. We also do not want to recommend a franchise that has a steep learning curve for your experience level.

In which state would you like to start or buy a business?

Some companies offer opportunities only in certain states and certain regions at some times and we want to avoid recommending something for you that will not be available in your location. Relocating for business is always an option, but depending on many factors, like family, weather, etc. you might want to work in a certain state. Also, state laws on franchising and businesses differ. We just want to know what suits you best!

start a business

Could you rank your interest in becoming a business owner on a scale of 1 to 10?

On this scale, ‘1’ would be it’s a dream but probably won’t happen. ‘10’ would be I quit my job and I’m 100% ready to be a business owner. It is possible that there might be some myths about the business industry that we can help dispel for you. Additionally, more motivation to start a business will mean a higher commitment to things like working in your store yourself. It is totally okay if that is not the kind of job you are looking for and want to choose a value closer to 1 that might be more hands-off. We hope to be able to motivate you to truly understand that if you want to do a business, there is probably a business for you and match you up with it.

Depending on your results, would you like to connect with a specialist on:
Buying a Franchise, Buying an Existing Business, Starting Your Own Business, Financing your Business?

We have specialists that can help you understand the ins and outs of any of those topics. If you are interested in talking to one, let us know and we can pair you up with someone!

Speak to a franchise specialist today.

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