Hurry: Short-cutting your research can increase your likelihood of failure.
Over-extend, or be optimistic about your personal finances. Be realistic, and if anything conservative.
Skip consulting professionals. Saving fees may deprive you of information critical to making a good decision.
Settle. Get the business that you want, not the first one that comes along.
Take anyone’s word. Find out for yourself. It’s your money, your risk, and your opportunity. You know best what you need, so investigate first hand.
Talk to and visit as many franchisees as possible.
Talk to and visit the franchisor and get to know the history and experience of the Officers and Managers.
Consult any and all advisors that you feel can be helpful to you, including a franchise attorney.
Ask any and all questions you can. Nothing is too trivial to ask.Take your time, and be very thorough in your investigation.
Take a comparative analysis of other franchises in the same and other businesses.
Evaluate yourself as compared to other franchisees that you meet and talk to. You make a difference! Make sure your comfortable with what you have to do.
Read and understand the sales literature, Franchise Disclosure Documents, etc. Know all the terms of your agreement.
Give yourself plenty of room to maneuver financially. Plan for more expense and slower profitability than you think you need.
RESEARCH, RESEARCH, RESEARCH. The more you know, the better your decision is likely to be. Remember, only you can determine if any franchise is the right one for you.