Choosing the right franchise is a big decision that many people make in their lifetimes. Franchising can certainly be less risky than starting your own business from scratch because the franchisor has already done most of the dirty work for you. They've tested operations, developed strong brand recognition and built a sturdy business plan. But before making any decision on a franchise, you must first sit down, analyze your needs, capabilities and limitations in relation to a franchise business. This first step could take a few days or a few years but regardless, it's the most important step so it needs to be taken diligently.

            In deciding on the basics, an important choice you will have to make is the choice between a large, established franchise system and a small, newer one, or something in between. This is crucial because the age and size of a system will impact you in many ways. Consider all the factors in size options of franchises; if there are a few operating units and it's a younger business, the franchisor may not have enough experience to make it work. They also pose a somewhat higher risk than the established one because there's no demonstrated track record; you may be experimenting along with them. Smaller systems could also bring less advertising power with the lack of name recognition.