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!
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?

Franchises That Don't Require a Lot of Effort to Run: Easy and Hard Franchises

There are a lot of different franchises out there that don't require a lot of effort to run. Some are easier than others, but they all have one thing in common: you don't need any previous experience in the industry to get started. In this blog post, we will discuss some of the best franchises that don't require a lot of effort, both initially and long-term. We will also mention some of the drawbacks of each franchise, so you can decide if it is the right fit for you.

20 Famous Athletes and Their Worst Investment Blunders

It's no secret that professional athletes make boatloads of money both on the field and through lucrative endorsement deals, but what many fans don't realize is that these big-money stars often blow all their cash in spectacularly bad business ventures.

How Franchisees Can Grow Their Sales

However, once the ribbons come down and time passes, franchisees begin to recognize the challenge ahead and that, in many ways, they're on their own: regardless of the amount of support their franchisor provides, the franchisee is ultimately responsible for generating sales for his or her new business.