Franchising is anything but a sure thing. Just like starting any new business from the ground up, success is far from guaranteed.
In fact, studies indicate that franchises have only a slight edge over their independent counterparts.And with new franchisors hitting the scene at a rapid rate, it can be hard for entrepreneurs to determine which franchise offers the best chance of success, according to Laura Larson, the vice president of KeyBank’s Small Business Administration (SBA) lending program.
“A lot more franchisors are coming into the market that aren’t necessarily proven,” Larson said.
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