Opening a new business is a major risk. There’s no guarantee that you’ll be successful. If you’ve got your eye on running your own business, but are wary of taking on the risks of business ownership without support, franchising could be a good path for you.

When you buy a franchise, you have the support and branding of the franchisor, which reduces some of the risks associated with new businesses. Still, there are risks in starting any business, even franchises. Be on the look-out for the following red flags as you evaluate franchises to invest in.

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Thinking about buying a franchise in 2017? If the idea of owning a franchise just popped up on your radar, it’s not a decision to be taken lightly. Read on to gain some insight into the steps you’ll likely need to take before committing.

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Opening a new business, whether it is a franchise or not, is a risk. One of the biggest questions you may have before buying a franchise is when it will become profitable. The start-up costs for new businesses are significant, which makes getting a return on your investment and sustained profitability one of the main goals for all new franchise owners.

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Running your own business can be tricky. And starting a business from scratch can be a daunting task, especially when it comes to business licensing. Knowing which licenses your business needs and how to get them can take away from the fulfillment of owning and running the business.

Licensing confusion is one of the reasons many people turn to franchises. Owning and operating a franchise is an easier way for people who enjoy running a business to do so without having to figure out all of the legal logistics on their own.

When you work with a franchise, many of the licensing requirements will be taken care of or you will be given explicit direction in how to secure the licenses you need.

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By now, you’ve decided business ownership is in your future and franchising is the path you’re going to take to get there. Now, you need a reliable process to peel back the cover on franchisors you’re interested in to see which is the best fit. 

Before we talk process, however, it’s important to understand that investigating a potential franchise opportunity is often a process of elimination. It’s rare to find the business you’re looking for right off the bat. Don’t be discouraged if your search takes longer than you originally anticipated. It’s always better to take your time to find the right fit rather than rush into a business without being 100% confident in your decision. Read more