1851

So you want to be a business owner? Franchising provides a phenomenal way for future entrepreneurs to flex their business muscles while having the comfort of a franchisor&#8217;s support, marketing material and brand name. Here are some tips to keep in mind for those looking to get into the industry. Focus on your skills.&nbsp; With franchising, your skills become your best asset. Identifying and writing down your strongest skills and bringing them to the table better prepares you for a specific franchise and allows you to see where you would be most successful. Research the brand&#8217;s ROI. You want to make money &#8211; we all do. Searching for a brand that provides you with gross revenue numbers and profit margins is important to look into. Read the FDD carefully &#8211;it&#8217;s one of the most valuable tools you have when considering buying into a company. Don&#8217;t immediately flock to &#8220;the hot new franchise&#8221; concept. Everyone wants to get into the ground floor of an up-and-coming and popular business. The key with franchising though is you&#8217;re buying into an established, well-vetted and proven-over-time concept. You want to make sure the brand you&#8217;re buying into has withstood both bad and good economic times.&nbsp; Remember franchising is still a system. Some individuals feel that now that they are business owners, they have freedom to change certain aspects of how a company is run. This is false. Technically you are the boss, but with a franchise, individuals must follow the uniform system that is provided. Do your due diligence. Make sure to reach out to former franchisees, current franchisees and research the brand online thoroughly. What might seem like a great investment may turn sour if you don&#8217;t do your homework. Gaining knowledge from individuals who have gone through the process is key when making an educated decision. Understand that even if it&#8217;s a franchise &#8211;you&#8217;re not guaranteed success. Franchising is still a business, and the business landscape and economy shifts just as easily for franchises as it does for independent businesses. Even with a proven system, don&#8217;t expect to sit back and watch the business succeed. Come up with a budget. Franchises come in all shapes and sizes and determining your finances is vital. There are many resources online that can help you do this. Two words: Business plan. A great resource is the Small Business Administration website. <a href="https://www.sba.gov/blogs/buying-franchise-how-determine-what-its-going-cost-you?utm_source=1851franchise.com&utm_medium=article&utm_campaign=top-10-tips-for-buying-a-franchise-1100" target="_blank" rel="nofollow">Check it out here</a>. Research multiple methods of financing. Lending, loans, 401Ks, direct financing &#8211;all of these are viable options for those looking to secure a franchise. Funding a business can be a daunting task, so make sure you know precisely what method is best for your situation, budget and business. Question banks and investors &#8211; that&#8217;s what they are there for. Get legal. Franchise attorneys are a great asset. Having someone look over a contract and explain it before you sign is important before making a big business commitment. Lawyers can explain precisely what a potential business owner should expect once they sign on the dotted line. Check the market saturation of stores. If you&#8217;re going into business, you don&#8217;t want competition interfering with your sales and exposure. Know what you&#8217;re selling and who else is selling it in your area. Location, real-estate and visibility are all key when it comes to success. No one wants six chicken wing concepts on one block. Make sure to really vet the area you&#8217;re looking to open in and find a segment that&#8217;s not represented.

1851 Franchise

Take these points into account when navigating the world of franchising. 

This brand page has been paid for by 1851. Content within this page that is paid will showcase a Sponsored icon. This means the brand has engaged 1851 FRANCHISE to write the content. Content without the Sponsored Icon is aggregated media placements the brand earned. Questions can be sent to editorial@1851franchise.com

Top 10 Tips for Buying a Franchise

top-10-tips-for-buying-a-franchise

ServiceMaster Restore

ServiceMaster Restore Powers Into the Second Half of 2025 With Growth and Purpose-Driven Impact

ServiceMaster Restore Powers Into the Second Half of 2025 With Strong Growth and Purpose-Driven Impact

servicemaster-restore-powers-into-the-second-half-of-2025-with-strong-growth-and-purpose-driven-impact

Comfort Keepers

Comfort Keepers - Midyear Press Release 2025 - 1851 Franchise

Comfort Keepers® Hits Mid-Year Stride With Strong Franchise Growth and Rising Demand for In-Home Care

comfort-keepers-franchise-midyear-momentum-2025

petbar

petbar - Garrett Dewan - Why I'm Investing - 1851 Franchise

Why Garrett Dewan Is Choosing To Reinvest in petbar

petbar-franchise-austin-garrett-dewan-multi-unit

Paris Baguette

NJBIZ: Paris Baguette Ramps Up Expansion With New Franchises, Facility and 2030 Growth Target

njbiz-paris-baguette-ramps-up-expansion-with-new-franchises-facility-and-2030-growth-target

Busy Bee Jumpers

Top 10 Reasons To Buy a Busy Bee Jumpers Franchise in 2025

top-10-reasons-to-buy-a-busy-bee-jumpers-franchise-in-2025

Buying a Franchise Masterclass

 Franchise Opportunities

Get Support Buying a Franchise

How to Buy a Franchise White Paper

How to Buy a Franchise

How to Sell Franchises

How to Grow a Franchise

Find a Franchise Supplier

1851 Franchise Opportunities

Franchisor News

Franchisor Power Rankings

FranCamp Mastermind Summit

Franchise Development Website Builder

Franchise Resources

What ALEC-Laffer's Report Means for Franchising

Website Awards

Power Rankings

About 1851

Advertise on 1851

Contact 1851 Editorial

Terms of Use

1851 Login

GROWTH CLUB LOGIN

facebook

instagram

twitter

linkedin

youtube

Wendy's CEO Kirk Tanner Steps Down - Breaking News - 1851 Franchise

Wendy’s CEO Kirk Tanner Steps Down Amid Challenges, Leaving Franchisees Facing Uncertainty

wendys-ceo-transition-kirk-tanner-franchisee-uncertainty

"Come in, We're OPEN" sign against abstract background

Small Business Optimism Dips, Raising Concerns for Franchise Owners

small-business-optimism-dips-raising-concerns-for-franchise-owners

Photo of Roof Scientist truck and trailer

Roof Scientist Expands Into Northern Indianapolis as Entrepreneur Dale Speckman Launches New Business in Fishers

roof-scientist-expands-into-northern-indianapolis

Image of Donald Trump pointing with red stripes in the background

August 1 Tariff Deadline Is Said to Have ‘No Extensions’: What This Could Mean for Franchises

august-1-tariff-deadline-franchise-impact

What June’s Jobs Report Means for the Franchise Industry

what-junes-jobs-report-means-for-the-franchise-industry

Unlocking Superpowers: How KidStrong Is Building the Next Generation of Confident Kids — and Thriving Franchise Owners

kidstrong-franchise-confident-kids

Picture of kids for franchise business Kidstrong which focuses on child development and fitness

KidStrong Is Pediatrician-Recommended for Raising Confident, Capable Kids and Families Can't Get Enough

kidstrong-child-development-program

Image of a kid growing up, developing with kidstrong, high fiving and smiling. 

How KidStrong has Become the Franchise Disrupting Child Development by Partnering with Purpose-Driven Franchise Owners 

kidstrong-franchise-opportunity-child-development

Jollibee -Launch-Story-Brand-Page-Deep-Dive-2025

Jollibee Franchise Costs, Fees, Profit and Data for 2025

jollibee-franchise-costs-fees-profit-and-data-for-2025

The Ultimate Guide to Selling Franchises: How To Create a Strong Incentive

how-to-build-strong-incentives-to-attract-prospective-franchisees

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores - Agg - 1851 Franchise

Hooters Leans Into Franchising With Closure of 30 Company-Owned Stores

hooters-franchise-model-company-owned-closures

Kansas Couple Revitalizes Local Childcare With Children’s Lighthouse

From Corporate Careers to Community Roots: Kansas Couple Revitalizes Local Childcare With Children’s Lighthouse

kansas-couple-opens-childrens-lighthouse-gardner-olathe

From Prescriptions to Pastries: Kari Khandelwal Creates a Comforting Community Bakery 

From Prescriptions to Pastries: Kari Khandelwal Creates a Comforting Community Bakery in Overland Park, Kansas

paris-baguette-franchise-overland-park-khandelwal

Hely and Hiral Patel Bring Their Longtime Dream to Life With The Brass Tap

Top 10 Tips for Buying a Franchise

MORE STORIES LIKE THIS