With a ready-made biz model and a brand often burned into customers’ minds with a neon logo, franchises can seem like a safe and easy way to start your own business.
For a fee that usually ranges from $25,000 to $100,000, a franchisee can sell burgers, clean carpets, prepare taxes or provide just about any other product or service, all under an established, well-known brand.
But even buying into the most recognizable chains comes with a fair degree of risk, experts said.
‘Despite all the advantages, there’s no guarantee of success,’ said Matthew Shay (photo), president of the International Franchise Association.
Running a franchise typically means following a formula that allows very little discretion. Continued…
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