If you want to invest in a franchise business or at least investigate the idea further, where do you find franchise opportunities? We all know the common ones we see when we drive down the street, but what about the others? There are thousands of franchise companies out there, and you should look at many in your area of interest before making any final decision.
So, where do you look? Check your local bookstore for directories that are printed once or twice a year with a hundred or more of the most common franchises. Magazines are issued several times a year that list some of the newer franchises. Small-business magazines have many ads to entice you to open a small business, but you need to do your homework first.
Your other source is your computer, which will allow you to search numerous websites. You can find general information and links to franchise company sites at:
You can search by type of product, industry, or startup capital needed and get information on many franchises to investigate. You can also get connected to sites that offer home-based franchises. Email for free information from all the ones that interest you.
Check out the large and smaller companies in the field you’re interested in and compare startup costs and royalty amounts. Some newer franchises will offer more incentives and perks, but they also come with higher risk. Most franchisors will tell you up front the amount of initial investment needed, so you’ll know whether it’s in your price range. If they don’t tell you outright or they are unsure or hesitant about answering, be very wary of them. They should be straightforward and direct with all the answers to your questions.
Find the time to research and investigate as many franchises as you can before you make a final commitment. And be careful of an untried or unproven franchise that’s too new. Collect information and compare many companies to narrow down your search to a few and then do your due diligence.