The most important thing to remember when thinking about franchising is to research the franchise. There are literally thousands of them out there and most of them are wonderful and have very successful franchisees. However, there are always the cases in which the business has dealt in deception in order to recruit you to their franchise.
It is your responsibility to do your homework on these franchises. We recommend talking to current franchisees to discuss how long it took them to get into the business, how long it took them to make revenue, how many hours they put forth (in the beginning and now) and how they plan to expand in the future. These questions, along with a seriously long look at your franchising contract, will help you better understand what you’re getting into.
Franchises are a great business and a wonderful way for you to own your own business with the added benefit of a safety net (ie: people who have been there and want to see you succeed). You also have the bonus of having an already recognizable brand. However, we want you to be safe. So whether you want to buy a food and restaurant franchise or a senior care franchise, make sure you take the necessary (and legal) precautions to protect yourself.