Franchises can offer an opportunity to 'short cut' your way into small business operation by purchasing limited rights to trade under the business name of a pre-established company.

Identify a franchise opportunity in your local area and answer the following questions.

• How well known is the product or service?
• Does an established clientele exist?
• Is the franchise local, national or international?
• What screening process exists for potential franchisees?
• Could you work in the structured environment a franchise requires?
• What is the franchise fee?
• Do any overheads exist?
• Do you have sufficient capital?
• Does the company provide training?
• What on-going royalties are due?
• Are there any other on-going expenses?

Based on your research, is purchasing a franchise a viable business opportunity for you?