You’ve honed in on the brand you want and committed to the system. You know your own mind. But are you jumping in too quickly? Perhaps you need to consider a little more research to be confident that your choice will turn out to be the right one.

Here are a few pointers to ensure you find your perfect match:

__1. Don’t rush the process. Research the sector – you need to be sure there is enough business growth potential for starters. Research the brand – does it have the leadership you expect, is there a clear vision for the future, is it keeping up with industry developments, is the marketing department providing great campaigns to boost business, is there a great culture across the network?

2. Focus on what will be the daily requirements of the franchisee’s role and consider if this is how you want to spend the next three to five to seven years of your life. No matter how good the brand and the business, with a disillusioned or reluctant franchisee heading it up there’s little chance of long term success.

3. Contact existing and former franchisees to discover what they think of the brand, and the way the franchisor runs the overall business. It is worth visiting some franchisees, even spending a day or two with a willing franchisee to see if the role really is all you want it to be.

4. Be ready to present the franchisor with some questions once you’ve done your due diligence. Don’t be afraid to put the franchise team on the spot – after all, you will be working with them for some years so there needs to be trust and transparency on both sides.

5. Spend time ensuring the location is right for the business. This entails more than listening to the franchisor’s opinion. It’s wise to seek as much statistical information from landlords (particularly in shopping centres) as possible, and apply critical judgement to the numbers presented. You’ll want to know of any upcoming refurbishments or changes in neighbouring tenancies in a centre, and planned major infrastructure changes that could affect your customer flow if the premises is in a strip location.

6. Check the numbers add up. However fantastic a business might look when you consider branding, marketing, store presentation, concept, social media presence…if the outgoings are too great for the income, you won’t be making money. In your outgoings you’ll need to include regular fees and levies, rent, business outgoings including any wages, and of course insurance, tax and superannuation.

7. Seek expert advice from franchise-experienced accountants and lawyers. These professionals understand the particularities of the franchise sector and will be able to spot a dud clause at a hundred paces. Far better to invest in specialist advice that may save you dollars and heartache in the future than to take a shortcut and find yourself in the wrong franchise that is expensive and painful to exit.

8. Be prepared to walk away from a business opportunity. If the financials don’t work, if there is little evidence of a good franchisor/franchisee relationship, if you get cold feet at the thought of the investment or the daily grind, if the franchisor is pressuring you to commit, if you have a gut feel something’s not right even though you love the brand…walk away. There’s always another opportunity to buy a franchise.