If you are considering purchasing a franchise, there are things you should know before doing so. Consider how much it will cost to start the business and to continue running the business. Consider whether working in the franchisor’s business is something you would like to do and continue to do for an extended period of time. Once you decide the industry in which you want to work, compare franchises in that industry. Are there advantages one has over the others? What has been the experience of other franchisees with the franchisor?
Consider the potential location of your franchise, the training and assistance the franchisor will provide, and the franchise’s past success and potential success. While buying a franchise is no guarantee of commercial success, there are advantages to buying a proven business strategy. Like any other business, a franchise is subject to market pressures and demands and can still fail despite a franchisor’s training, marketing techniques, and assistance.