Franchising: Ticket To Riches, Or Ruin?

‎Sydney Morning Herald:

A franchise can be a great way to be your own boss — but always be on the lookout for traps, writes Carolyn Boyd.

If you’re keen on being your own boss but don’t have a clear business idea you would like to pursue, a franchise could be for you.

Franchisees take business formulas that have been successfully applied elsewhere and reapply them in a new location. Examples include mower businesses, fast-food restaurants and cosmetics.

While they can take some of the hard work out of a start-up and pay good dividends, experts say there are traps to watch for.

Read more.

Photo: Dean Osland.