It's estimated that there are more than 2,500 franchise opportunities available in North America. Owning a franchise is an opportunity to be part of a proven business concept. However, choosing the right franchise requires knowledge, objectivity and a good dose of reality. Even though the benefits of owning a franchise compared to building a business from the ground up are numerous, each franchise opportunity must be evaluated on an individual basis.  The needs and capabilities of each prospective franchisee must be considered.

• An Established Track Record
  As a franchisee, you can become part of a proven business system. The business system includes marketing and day-to-day operations. The franchisor can offer a concept with products and services that have sold successfully. This history of success can enable franchisees to learn from and to help predict their own future. Be sure that the franchise you select has a successful track record. In the case of a new franchise the more company owned locations in operation the better.
• Quicker Start Up
  There is a shorter learning curve for a franchisee owner, because there is assistance from the Franchisor. The Franchisor has experience to draw upon in starting new operations and operating locations. It's also important that the Franchisor provides good training and start-up support.
• Lower Risk
  The risk of failing is lower with a franchise operation because of the experience, expertise and proven resources that a franchise provides. Since a franchisor has already operated the franchised business, there is an existing body of knowledge. The longer the business has been in operation the more experience the franchisor has accumulated.
• Lower Investment
  Since most franchises keep their initial investment low, this fact favors entrepreneurs. Lending institutions often look positively on lending to franchisees because of their high success rates.
• Buying Power
  The buying power of franchisees can contribute in lowering the costs of doing business. Franchise buying groups have the ability to negotiate lower prices for supplies and services. As an independent business owner there is little leverage in demanding lower prices from suppliers.
• Stronger Brand Recognition
  With an established franchise, you have the benefit of marketing an established brand of products or services. In the case of a new business it can be very costly to build brand recognition but in the case of a new franchise operation there is already brand recognition from company owned locations.
• Operating Support
  As a franchisee, you can receive business support in the areas of site selection, training, operations, marketing and new products and services. The franchisor will assist you in developing a business plan, in learning the best ways to hire and manage personnel, and how to properly manage your facility.