How do I choose the right franchise for me?

The key is to set your criteria before you start looking at specific franchise opportunities. You and your spouse/family should decide on key issues such as:

1. How much capital am I prepared to commit to a franchise venture?

2. What geographical area is the business to be located in? (no more than 30 minutes from home is a good benchmark)

3. What hours and on what days am I prepared to work?

4. How many people do I want to employ?

5. How much income in wages and profit do I want to draw from the business in year 1, year 2 and year 3?

Note that none of the criteria are about the type of business as this is more an emotional discriminator.

Once you have this template of the ideal criteria you can then compare it to all the opportunities that attract your attention and see if they fit your specific needs. Avoid changing your criteria to fit the opportunity so emotional decisions donÕt lead you down the wrong path.