Reality versus Myth. How to Start a Franchise.

Reality versus Myth. How to Start a Franchise.

Start a Franchise for $199! Reality or Fiction? You have heard the old saying “If it's too good to be true then it probably is”. The old adage holds true when it comes to how to start a franchise. If a Franchise opportunity seems too good to be true then take your time to investigate further.

When buying a franchise, there isn't a one size fits all approach; what's right for you may not work for the next person due to your own skills, risk tolerance, credit rating and other factors. So, how can you find a great franchise opportunity?

To begin, review basic information about your own abilities, goals and risk level. Speak to your bank and find out your credit rating, if you will qualify for financing (and how much) and your risk tolerance. Then move on to your personal skills, goals and aptitudes. Do you have management or marketing experience? How many hours are you willing to work? Are you seeking a job replacement franchise or an investment franchise? These and many other questions can help you define the type of franchise opportunity that will fit your stage of life.

Next, spend some time reviewing various franchise opportunities with a reputable name such as www.entrepreneur.com. Their online franchise resource lists hundreds of franchise opportunities with descriptions of the business, required investment and much more. Once you have narrowed your selections down to a few areas of interest it's time to request more information.

Don't just reach for the brochures. Spend time speaking with the home office, franchise owners, former franchise owners and others. Remember, these are partners in your business for a very long time so learn everything you can in order to compare each franchise opportunity.

Finally, take time to visit a franchise exposition in person. It's a great way to explore all your options.