A reputable franchisor will engage you in a rigorous screening process before authorizing you to buy the franchise. If you and the franchisor emerge from the courting period still enamoured with each other, you might combine strengths to move forward together in confidence.



If you do manage to land that great franchise, there are some significant advantages over starting your business scratch.

1. With a successful franchisor you'll be purchasing a proven business model, rather than having to build your own. With any new business there is always a lot of testing, tweaking and revising. Franchises, in theory at least, should have smoothed most of the kinks before they sell you package.

2. Quality standards, job descriptions and training programs are typically established by the franchisor and provided as part of the deal. In starting a new business you will need to create these things yourself, usually in those afterhours squandered by normal people on things like recreation, family time, and sleep.

3. One of the most beneficial aspects of a great franchise is the ongoing support, mentoring and training they provide to franchisees. Next to having great products and services, this might be the biggest gain for an inexperienced new owner.

4. Any franchisor worth his salt will support franchisees with marketing and brand recognition, while an independent business owner will be solely responsible to design, build and pay for these items.

5. A franchisor will have sourced key products and supplies and negotiated group or bulk buying rates, with at least some of those benefits accruing to the franchisee. For new business owners trying to cut deals on small amounts of product, suppliers can be an unforgiving bunch.

6. A seasoned franchisor should be able to provide the new owner with the research needed to complete a business plan, thereby avoiding many of the potential pitfalls of an independent new business.

7. Franchising is closely regulated, which makes it easier to assess track records, quality standards, and to solve problems should they arise.

In spite of all the benefits and luster, franchises are not for everyone. Here are a few things to consider.

- In many cases you will pay a fee to purchase a franchise package. The more successful and lucrative the franchise, the higher the fee. Most franchisors also charge ongoing monthly royalties and fees.

- The franchisor will determine and limit the size of your territory, and control your expansion. Ideally, any market area limitations will be designed with the franchisees success in mind. Other than area restrictions, the mother corporation is also likely to regulate which items your business can sell.

For the most part you will be locked into a franchisor's methods, timelines and processes. Although purebred free-spirited entrepreneurs might eventually find franchise controls a bit stifling and want to move on, the franchise model offers an attractive option to get into business.