These are some of the advantages of buying a franchise. But before you dash off to sign an agreement with any company, the Wisconsin Institute of CPAs says it s important that you also consider other aspects of owning and operating a franchise including potentially rigid operating agreements, franchise fees and royalty payments, standardized and sometimes stringent business practices, and territory infringement possibilities.
Standardization is the very essence of franchising.
Some people find structure, conformity, and a support system reassuring, while others prefer to develop a business from the ground up. Making the decision to own a franchise and then choosing the right one requires a great deal of research and preparation. Here s how you should get started. Think about what trends are predicted within that industry. Next, consider the kind of work you find most appealing.