Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!
Identify the perfect franchise for you! Take our short quiz Take our free franchise quiz!

18 Questions for Potential Franchisees to Ask Themselves: Part 2

In the first part of this series you considered nine questions any potential franchisee should ask themselves about how to get started in a franchise business. Here are the remaining nine questions you should ask yourself as you start to explore different franchise opportunities.

10. Do I want a new or established system? While an established system may have more support and you may feel more secure about your financial success, a new system may allow more creativity and independence.

11. Do I want a large or small franchise system? About 60% of all franchise companies have fewer than 50 locations, so you'll have a bigger choice if you opt for the newer, smaller systems.

12. Do I want a system with slow and steady growth or one experiencing rapid growth? This changes franchise to franchise, and will often depend on how many hours you would like to put in over the first couple of years.

13. What kind of attitude do I want from the franchisor? Paternalistic? Dictatorial? Collegial? Laid back?

14. How important is name recognition? On a regional or national basis? Maybe in your specific location, you feel a well-known brand name would be a huge draw, or the complete opposite.

15. Will I be happy with one or two franchised units or do I want to own multiple units or develop an entire area?

16. How much can I realistically invest in a franchise (money that does not have to be borrowed or raised elsewhere)?

17. How much should the total investment be? Is it worth it to put more up front and get more in return, or to start small and gradually work your way up?

18. Do I need to find a franchisor that offers a low-interest financing program or has an established third party financing relationship?

FlipFlop Dogs: Why We Started the Veteran Franchise Giveaway

veteran, as a small token of our appreciation and gratitude for all they have done for our country.

5 Hot Franchises for 2015

Looking ahead to 2015, here are 5 different franchises that we think are going to growing at an incredibly rapid rate:

10 Provisions In Your Franchise Agreement That Deserve Your Attention

Here are 10 provisions that every potential franchise owner should try to keep on their own terms.