Franchises make over a third of all retail sales. There is a
good chance that if you are starting a business, you will want to consider
buying a franchise. That way you can take advantage of a business name that is
familiar to many people (a trademark) and support services to help you succeed.
These benefits come with a cost: Up-front fees of $10,000 to $50,000 and ongoing
royalty fees of 3% to 20% of all your sales. Review the pros and cons of your
franchise opportunity with an experienced franchise lawyer. Negotiate the terms
of your proposed franchise agreement. Be sure the amount of support and degree
of control over how you run your business are what you expect and can live with.
Contact many existing franchisees to get the inside story on the franchise.
Investigate thoroughly before you invest.