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What do I consider before buying a franchise?

Last Updated: December 15, 2011

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Before investing in a particular franchise system, carefully consider if their is a need for the product or service of the franchise, how much money you have to invest, your abilities, and your goals.

The Federal Trade Commission offers a checklist of things to consider and questions to ask yourself before you sign on to franchise system. Start-up costs and fees, business system and controls, and termination or renewal options are important considerations to examine. For a detailed explanation of these issues, go to: FTC.gov.

You should also get help from your attorney and your accountant. Additional resources: www.inc.com www.entrepreneur.com

Browse related Faqs by tag: entrepreneurship, small business, building local economies, franchise, business opportunity

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