The stellar rise of the franchise... 5 top tips to narrow things down!

I just googled 'latest news about franchises'. Google returned 17,600,000 English language web pages. Wow.

On page one of Google there's a huge franchise exhibition at London Olympia. An international business directory site dedicated entirely to franchising. Franchise magazines. Franchise consultants. There's a businesses that will, for a fee, fight their way through the thick, hot jungle of franchise information to track down the ideal franchise for your budget and needs. Franchise associations. Franchise resale sites. And that's just for a start. Only about 17,599,990 web pages to go!

If you needed proof that franchising is very, very big business, googling it delivers in spades. Which is all very well. But if you're looking for a franchise that'll make you money, keep you busy, interested and happy, it's a minefield. There's just too much choice.

Here's five top tips for narrowing down the field and making your search for a franchise less of a nightmare!

1. narrow things down by picking one that already works well in your country. OK, you might have some local competition but at least you know that the business proposition is suitable for your market.


2. pick franchises you like the look of. Narrow them down by contacting them all by email, putting the ones who respond fastest at the top of your heap. If a franchisor doesn't reply or takes ages, don't even go there.


3. choose franchises that have been on the market for a number of years. New franchise opportunities are, by their very nature, still at test stage. So they're only for people who are willing to take a big financial risk


4. cash in on your existing career experience. Choose a franchise in an industry you are familiar with, in or near your comfort zone, and you'll have a substantial advantage over franchisees who are new to your area of expertise.


5. empty your mind of everything practical and rummage randomly for a bunch of franchises that will - simply - make you happy. You're much more likely to make a fortune when you're doing something you love, than trying to force yourself into something that sounds fabulous but just doesn't suit your personality.