Franchising looks easy... pay your franchise fee, operate under a well known brand and get a turn-key solution to starting your business. I have looked into a number of franchises over the past few years and believe that it is a wonderful way to get into business. However there are some things the franchisor will not always tell you- so make sure you go in with your eyes wide open...

Know when to walk away...
If something seems to be to be too good to be true, it probably is! None of us (I hope) have been duped by e-mails promising massive sums for helping to move dormant accounts out of a country or congratulating us on winning on a lottery we have never entered into. We must take the same approach to business. If you are looking at a franchise with a low entry cost and low initial investment, the likelihood is that actual returns will be very limited or non-existent.

Joining a franchise guarantees profit?...
Not true! Not all franchises are successful, even if they are successful they may not be profitable, and many fail. Indeed, joining a successful franchise does not guarantee success. The vital ingredient is you, and your hard work and dedication will be the reason for making it work.

Enjoy what you are doing...
One of the advantages of being self-employed is that you are working for yourself and doing something that you truly enjoy and can be passionate about.  This makes the long hours you put in all worthwhile because the results and profits are all down to your own efforts. Keep this principle in mind when investing in a franchise! If you buy a franchise that you end up hating, chances are high that you will not be successful, or happy.  After all, if you are not good in the mornings a convenience store franchise where early starts are required is probably not for you!

Planning...
Franchisors like to say that in a franchise you are in a business for yourself, but not by yourself. A good franchise will give you the brand, systems, training, marketing and ongoing support (all at a cost of course). However... you are the one who has to make it work. You must apply the same principles to opening a franchise in an area as you would if the name over the door was your own: planning, market research, competition in the area, etc. A franchise is not a magic formula for making money; do the legwork yourself before jumping in and it will pay dividends.

Finally...
Remember, regardless of the business you decide to invest your time and money in, the secret to its success comes down to one simple word, YOU.  Be passionate, be enthusiastic, but if deciding on a franchise as the best way to go, be cautious.