17 Jul 2007

Buying a franchise allows you to set up your own business without starting from scratch. You use a tried and tested formula, and benefit from the experience and support of the 'franchisor' (the company offering the franchise).

Franchisees can enjoy many of the benefits of self-employment with less risk.

Successful franchise operations have a much lower failure rate than completely new businesses. You can make a good living (though rarely a fortune), if you make the business work.

But you need to be aware of the potential pitfalls.

This briefing outlines:

• The advantages and disadvantages of buying a franchise.
• How to evaluate a franchise.
• Negotiating to buy a franchise.