Buying a franchise can be risky and if you choose the wrong franchise you could end up going out of business and losing all of your up-front investment. If you used bank funding, you'll still owe the bank even if you have given up the franchise!
Thanks to more experienced franchise consultants, lawyers and other professional advisers being readily available the franchise failure rate has been reduced dramatically.
It is worth spending the time and effort in advance to make sure that you pick the franchise that is right for your skills and personality.
Buying a franchise may be a good thing but do not be carried away by what may well turn out to be empty promises.
For the right type of people, a franchise can represent a proven method to running a successful business. However, not everyone is suited to running a franchise business. Let's look at some of the key aspects of a franchise and discover why this might be.