It's tempting to buy your way into a ready-made business opportunity. Buying a franchise might seem like just the ticket to get you started on the fast-track to self-employed success.
It's not necessarily so. Miranda Marquit at WorkShak has posted a link to a BusinessWeek piece that looks into an unprofitable franchise opportunity.
The BusinessWeek article points out what many franchisees overlook: operating a home business is a lot of work, regardless of whether you have purchased a franchise, or not.
To learn more about franchise opportunities you can go to the following resources:
- About.com site on Franchising.
- Federal Trade Commission's Net Based Business Opportunities: Are Some Flop-portunities?
- Federal Trade Commission site on franchises
The U.S. Small Business Association has a lot of great resources too.
The bottom line is: if a franchise opportunity sounds too good to be true, it probably is. Thoroughly research any franchise opportunities before committing. If your initial investment is significant it may be wise to hire professional help.
What about you? Are you, or have you been, a franchise owner? How is it going? Leave a comment and share your experience.
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