April 22, 2026 – In the March 2026 Small Business Startup Sentiment survey, 58.5% of respondents cited Grit, or “persistence towards a goal despite obstacles” as a strength that emboldens them to pursue business ownership. Also, 55.4% also attested to their “willingness to follow a proven system”, an essential ingredient for succeeding at a home-based ownership.
Many franchises require team leadership skills, and “team leadership experience” was also reported by over half of respondents, at 52.3%.
While 38.5% of respondents to this question included prior business ownership among their top three strengths, in the same March 2026 survey, 12% reported that they currently own a business.
“Access to sufficient startup capital” was reported by 33.8%, followed by 30.8% of respondents reporting a supportive partner or spouse. Further, 27.7% have experience in the business segment they are exploring for franchise or home-based business ownership.
Survey respondents were invited to select only three of the seven factors provided, or to provide an “other” response, so the above are what they deem their most valuable attributes for business ownership.
It should not be unusual to find these traits in aspiring franchisees, given that the majority of today’s would-be franchise owners are near prime entrepreneurial age and leaving full-time jobs according to recent aspiring franchise owner demographics from the monthly small business startup sentiment surveys.
“Grit”, “willingness to follow a proven system”, and “team leadership experience” are most cited by franchise-seekers and home-based business opportunities.
Grit was coined to mean “perseverance and passion for long-term goals” by psychologist Angela Duckworth and colleagues in a 2014 study of the predictors of success. The authors found that traditional predictors like intelligence (as measured by standardized tests like IQ) and talent — possession of extraordinary abilities — were secondary to what they came to define as grit. This six-minute TED talk by the author has been viewed over 17 million times.
Grit may be a desirable trait, but it is not sufficient for the successful operation of a franchise. The willingness of franchisees to follow a proven system is a known success factor, and the belief among today’s prospective owners that they possess that characteristic bodes well for the coming generation of home-based business owners!
In the most recent survey, 38.5% of respondents included prior business ownership among their top three strengths, and 12% reported currently owning a business.
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