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Before you buy a franchise, you must ensure that you are well equipped for the task ahead. But where should you start?Many franchisees sign a significant portion of their life savings over to open a business, and they do so because they are confident in the franchisor’s business model and their own ability to follow it. If they are smart, they have also retained legal counsel and consulted their loved ones.&nbsp;Buying a franchise means becoming a business owner, and owning a business means liability. If you fail, your business fails. Franchisors can train and support you for success, but it will be you unlocking the doors each morning and running day-to-day operations, unless you hire a manager to do it in your stead.&nbsp;If you’re interested in making the commitment, this checklist is a solid starting point:<ul><li>Have you had an attorney look over the paperwork?</li><li>Do you have the required work experience to successfully run this business?</li><li>Will the total investment for this business leave you cash-poor?</li><li>Are you willing to work the required hours to make the business succeed? Even if this means missing important family events and working weekends?</li><li>Have you interviewed other franchisees in the franchise system? Have they been candid with you? Did the franchisor make all of their franchisees available, or were some hidden?</li><li>Can you live with the fee structure? Can you profit from it?&nbsp;</li><li>Do you have an exit strategy? Can you resell the business?</li></ul>

What Do I Need To Do Before Buying a Franchise?

1851 Franchise

An introductory checklist to prepare you for investing in a franchise brand.

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Image Studios

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Finding Freedom: Why Beauty and Wellness Professionals Build Their Dream Careers With IMAGE Studios

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IMAGE Studios Offers a Scalable, Real Estate-Focused Franchise Opportunity in an Industry Projected to More Than Double Within a Decade

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ServiceMaster Restore

ServiceMaster Restore - Disaster Response - 1851 Franchise

When Disaster Strikes, ServiceMaster Restore Moves

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Children's Lighthouse

How Children’s Lighthouse Stands Out Among Other Children’s Education, Childcare, and Daycare Franchises

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The Growth Coach

The Growth Coach Franchise Costs, Fees, Profit and Data for 2025

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Buying a Franchise Masterclass

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Federal Reserve Expected To Cut Rates by Quarter Point, a Move That Could Boost Franchise Growth

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Potbelly to be Acquired by RaceTrac in $566 Million Deal 

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Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities - 1851 Franchise Agg

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities 

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Caribou Coffee Names Scott Kennedy CEO, Eyes Continued Growth

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McDonald’s Launches New Extra Value Meals as Consumer Demand for Value Continues to Climb

What Do I Need To Do Before Buying a Franchise?

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