1851

1.) Research, Research, Research

Franchising offers endless opportunities in a variety of industry and brands. You&rsquo;ll have to do extensive research to determine which franchise brand fits your personal and business values best. Online business outlets offer rankings of the top franchises with information on the company&rsquo;s background, start-up cost and more helpful resources. There are also several franchise consulting firms that provide individuals with a franchising mentor to guide them through the process of choosing a franchise and signing for a location. Make sure you put in an ample amount of time and thought into picking the most practical franchise brand for your next investment.

2.) Success is Not Guaranteed, Working Hard is Required

Like any new business ownership, success is not guaranteed and it can take months to years to get your franchise up and running smoothly. Franchising provides its owners with an existing business model to work alongside and pull certain mechanisms from. However, not every franchise location is the same. It&rsquo;s your responsibility as a business owner to apply your own tactics and education to your company and implement a strategic business plan.

&ldquo;Be prepared to work harder than you have in your life,&rdquo; said Fitzgerald. &ldquo;The good news is you&rsquo;re young and have energy. Be prepared for long hours and a lot of effort. It&rsquo;s the hardest job you will ever have, and it could be the most rewarding.&rdquo;

If you put in the work and hire the right staff, your franchise can blossom into a successful investment.

3.) Play by the Rules

While franchise ownership offers the freedom of owning your own business, you must adhere to the guidelines and principles of the brand. It&rsquo;s important in franchising to follow the process and directions provided to you by corporate. The franchise model is created to help franchisees in the system as well as facilitate an overarching cohesiveness across all locations.

&ldquo;If you don&rsquo;t like following a process the franchise model is not for you,&rdquo; said Fitzgerald.

4.) Take Advantage of the Support System

The great thing about working in franchising is the built-in networking system that comes along. Several franchise owners have been with their brands for several years and gained a plethora of knowledge about the company and its industry. Get to know these people and reach out to them as often as possible when starting out.

&ldquo;Even though you&rsquo;re buying into a system, there are best practices an experienced mentor can teach you and help you in the first years,&rdquo; said Fitzgerald.

These seasoned franchisees can help you become educated on both the brand and franchising in general.

5.) Be a Leader

In any case of business ownership, hold your own and lead your employees as well as others in the franchise system. Once you&rsquo;ve become comfortable with the brand and more educated on its values and role in the industry, you&rsquo;ll be able to confidently take a in representing you franchise brand. Your franchise location is your business and while it&rsquo;s helpful to have the support of the franchise model behind you, it&rsquo;s important to hold yourself accountable for the success of your location.

&ldquo;It&rsquo;s your business in all aspects of it,&rdquo; said Fitzgerald. &ldquo;You have to make it happen. Don&rsquo;t rely on anyone to solve your problems.&rdquo;

&nbsp;

5 Things I Wish I knew When Buying a Franchise

5 Things I Wish I Knew When Buying a Franchise

1851 Franchise

So, you’re thinking about investing in a franchise? It’s a great way to jump into business ownership with the support of a brand with an existing image and networking system. However, buying into the best franchise for yourself at the right time takes strategy and knowledge in the industry. Sean Fitzgerald, CFE at No Limit Agency and franchising expert, shares 5 things young investors should know before buying a franchise.

5-things-i-wish-i-knew-when-buying-a-franchise

HomeTeam Inspection Service

Hometown News: Like Father, Like Son — Family-Run Inspection Business Blends Generations of Expertise and a Keen Eye for Detail

father-son-home-inspection-franchise-florida

KLA Schools

KLA Schools of Beachwalk Hosts Admissions Kick-Off Celebration

kla-schools-of-beachwalk-hosts-admissions-kick-off-celebration

Good Day Columbus: Home Insurance Expert Reveals Why Central Ohio Premiums Are Rising and How to Combat Costs

rising-home-insurance-costs-ohio

CapitalSpring

Primetime Fitness Expands Crunch Portfolio With CapitalSpring’s Backing

primetime-fitness-expands-crunch-portfolio-with-capitalsprings-backing

Children's Lighthouse

How Children’s Lighthouse Franchisees Scale to Multiple Locations

how-childrens-lighthouse-franchisees-scale-to-multiple-locations

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

Potbelly to be Acquired by RaceTrac in $566 Million Deal 

racetrac-acquires-potbelly-in-566-million-deal

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

Health Care Hiring Slowdown Highlights In-Home Care Franchise Opportunities 

health-care-hiring-slowdown-in-home-care-franchise-opportunities

Caribou Coffee Names Scott Kennedy CEO, Eyes Continued Growth

caribou-coffee-names-scott-kennedy-ceo-eyes-continued-growth

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

mcdonalds-launches-extra-value-meals

Power Eats: Smoothie King Rolls Out Food Nationwide To Fuel Franchise Growth

smoothie-king-food-menu-power-eats

DevHub - Meet the Supplier - 1851 Franchise

DevHub: Scalable Digital Marketing for Franchises and Multi-Location Brands

devhub-meet-the-supplier

Mike Revak - Chief Business Officer - Sky Zone - Franchise Marketing Leaders - 1851 Franchise

Top 25 Franchise Marketing Leaders: Mike Revak — President and Chief Business Officer, Sky Zone

top-25-franchise-marketing-leaders-mike-revak-chief-business-officer-sky-zone

What It Really Feels Like To Franchise Your Business

what-it-really-feels-like-to-franchise-your-business

Top 25 Franchise Marketing Leaders: Cathy Chavenet — Chief Marketing Officer, Paris Baguette

top-25-franchise-marketing-leaders-cathy-chavenet-chief-marketing-officer-paris-baguette

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

brass-tap-franchise-pasadena-maryland-hely-hiral-patel

1851 Keyword - The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

The Secret To Succeeding With a Part-Time Franchise Is Picking the Right Model

part-time-franchises-picking-the-right-model

Franchisee spotlight graphic with photo of Ricki Oberoi and Layne's Chicken Fingers logo

Multi-Unit Wendy’s Operator Signs 12-Unit Deal With Layne’s Chicken Fingers

ricki-oberoi-laynes-chicken-fingers-growth

Design with school-aged child standing on pencil with text "Education Franchises" and "<$500K"

Top Education Franchises Under $500K To Explore in 2025

top-education-franchises-under-500k

1851 Franchise Deep Dive graphic with Sparkle Squad logo

Sparkle Squad Franchise Costs, Fees, Profit and Data for 2025

franchise-deep-dive-sparkle-squad-franchise-costs-fees-profit-and-data

5 Things I Wish I Knew When Buying a Franchise

MORE STORIES LIKE THIS