In fact, the system has been perfected. A good franchiser will offer ongoing advice, consulting, and training, so your chances of making a big mistake are diminished. Depending upon the size and type of franchise, your business could be part of a national advertising campaign. In many cases, you don't have to decide what equipment to buy, what inventory control system to use, how to set up cash registers, etc. as these things have already been determined by the franchiser. You will have an operations manual handed to you.
Franchises are expensive, and well-known franchises are even more so.
Lack of independence. You will be part of a large organization, albeit an independent part. You will be subject to regulations and guidelines that you are required to follow. You will be signing a contract that you must adhere to. If the franchiser hits hard times, you probably will too.