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There's no sure way for would-be franchisees to gauge their likely success with a potential franchise. But like bettors at a racetrack, they do have a tip sheet they can use for guidance.
It's the Small Business Administration's annual compilation of performance data on thousands of franchisee loans it has guaranteed.
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Don't use a family friend, who also happens to be an attorney, when investing in a franchise of your own. Here's why....
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Before you even begin looking at franchises, you need to do a thorough self-evaluation of your own business style, strengths and challenges. So find a quiet place, get out paper and pen, and as objectively as possible answer the following questions.
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The thought of being your own boss can sound pretty wonderful to someone tired of working 50 to 60 hours a week to make money for some impersonal corporation. And there is probably no better way to be self-employed than by buying a franchise and taking advantage of all that franchising has to offer: a tried and proven business model, initial and c
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