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"There is only one success--to be able to spend your life in your own way."
  -Christopher Morley
 

Today's Featured Franchise:

Top Categories:

• Restaurant Franchises
• Coffee Franchises > Starbucks Franchise > Java Jo'z Drive Thru > Tim Hortons
• Cleaning & Service Franchises > Junk Removal > Carpet Cleaning > Maid Service
• Sports Franchises > Hockey > Goaltending
• Fitness Franchise > Curves Franchise
• Regional > USA > Canada

So you want to start a franchise business?  As you are no doubt aware, there are two options, buy an existing operation, or start a new one.  Which one is right for you?  What kind of business are you interested in starting?  Consider your interests...don't start a donut franchise if you're a fitness buff.   When you have an idea of the type of franchise business you want to own, do some deep research into what kind of support you will be getting for your fees from the various franchisors.  This part can be easier than you would imagine.  In the US, as in most countries, franchise laws exist to protect you and inform you of unscrupulous practices.  Also, unhappy franchisees are more than willing to talk about their troubles.  Consider the advertising/marketing support, training support, suppliers/purchasing and don't forget - MORAL SUPPORT!

Franchise businesses can be very rewarding.  You are not in uncharted territory.  The map has been drawn and revised and tested by dozens or even hundreds before you.  Personally, I think the biggest question you want to examine before choosing a franchise business over your own is the risk vs. reward factor.  Think of a franchise business as an investment with a calculated return.  The franchisor has set the initial costs and ongoing fees based on their expectations for your profitability. You are going to invest a set amount and get a somewhat projected return.  The amount of return will vary based on some factors that are within your control (choice of location, local marketing efforts) and some which aren't.  My point here is that many franchises DO NOT make the owner rich, they simply provide an investment income based on the amount of investment.  If you are not risk averse, and are expecting to build an empire on the backbone of your new business, look for an original business idea, or an untapped niche or simply launch your business as the best in an industry where you believe you have an edge. 

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