Where Can I Look For A Franchise?

There are many good sources of information about franchise opportunities. For most people, the process that makes the most sense is to first make sure you understand the business model of franchising. After you’re clear on what franchising is all about, then you can try to identify industry segments that may be of interest to you. Finally, you can research individual companies to see which ones match best with what you are looking for in a franchised business opportunity.

There are many good reference works and periodicals you can use to understand franchising in general and business format franchising specifically. The best sources to rapidly access this information at no or very reasonable cost are:

• Internet web sites
• The public library
• A good bookstore
• A franchise consultant (click here for more information)

The best way to scan industry segments to find ones that potentially have interest for you is to refer to lists compiled and organized by others. These lists usually contain information on many companies segmented by industry. One of the best organized is the Entrepreneur Franchise 500 (January issue each year). Spend some time looking at the investment level requirements and thinking about what the pros and cons of that particular industry might be. Make a list of the ones that you are qualified to pursue financially. FranchiseILS.com can also match you with a consultant that offers a free service to people looking for franchise opportunities. The consultants we have worked with have helped thousands of people find the business that is right for them.

Franchise brokers or consultants are an excellent source of information and assistance. Typically most of these companies or individuals work at no cost to the franchisee; however, keep in mind that they don't work for free. Most are paid either a commission or a percentage of the royalty stream by the franchisor. A qualified and reputable consultant or broker will work with you to find a franchisee that will suit your means, interests, skills and background and not just endorse the franchise paying him or her the biggest commission. High pressure tactics should be an indication that you are not working with the right broker or consultant.

Another excellent way to find a franchise is to attend an expo. There are nationally and regionally held expos throughout the year. A quick on-line search will turn up the expos coming to your area. Keep in mind, however, that not every franchise will be represented at these expos, and those in attendance are hoping to gain new franchisees, so don't give in to any high pressure presentations.