There are more than 760,000 franchised businesses in the United States today, accounting for greater than 10 million jobs. A well chosen Franchise offers many advantages, particularly to first-time buyers. Franchises allow buyers to take advantage of established products and services that already enjoy widespread name recognition.
Despite their popularity, buying a franchise is not without risk and can be more complicated than the purchase of a similar business. Among other things, franchises are subject to Federal and state laws and regulations that are not applicable to similar businesses.
I frequently assist franchise buyers and am often asked to recommend sources of helpful information. The Internet offers several excellent resources for prospective franchises. If you are thinking about buying a franchise, visit the homepages of two franchising trade organizations, the International Franchise Association and The American Association of Franchisees and Dealers. The publication, "Introduction to Franchising" is also a great starting point.