Should You Start A Franchise?

What's Hot

2 Types of Black Marks Might Vanish From Your Credit File SoonBorrow

6 Ways the Obamacare Overhaul Might Impact Your WalletInsurance

7 Dumb and Costly Moves Homebuyers MakeBorrow

This Free Software Brings Old Laptops Back to LifeMore

Obamacare Replacement Plan Gets ‘F’ Rating from Consumer ReportsFamily

Beware These 12 Common Money MistakesCredit & Debt

21 Restaurants Offering Free Food Right NowSaving Money

17 Ways to Have More Fun for Less MoneySave

House Hunters: Beware of These 6 Mortgage MistakesBorrow

30 Household Uses for Baby OilSave

25 Ways to Spend Less on FoodMore

Nearly Half of Heart-Related Deaths Linked to These 10 Foods and IngredientsFamily

5 Surprising Benefits of Exercising Outdoors in WinterFamily

10 Ways to Save When You’re Making Minimum WageSave

Boost Your Credit Score Fast With These 7 MovesCredit & Debt

7 Painless Ways to Pay Off Your Mortgage Years EarlierBorrow

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

The True Cost of Bad CreditCredit & Debt

10 Companies With the Best 401(k) PlansGrow

This Scam Now Tops ID Theft as the No. 2 Consumer ComplaintFamily

6 Stores With Awesome Reward ProgramsFamily

6 Ways to Save More at Lowe’s and The Home DepotSave

6 Healthful Treats for Your DogFamily

New Study Ranks the Best States in the U.S.Family

Thousands of Millionaires Moving to 1 Country — and Leaving AnotherGrow

Strapped for College Costs? How to Get the Most From FAFSABorrow

6 Overlooked Ways to Save at Chick-fil-AFamily

Ask Stacy: What’s the Fastest Way to Pay Off My Mortgage?Borrow

Where to Sell Your Stuff for Top DollarAround The House

8 Ways to Get a Good Price on a Shiny New AutoCars

Ask Stacy: How Do I Start Over?Credit & Debt

Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Don’t Want You to Know AboutFamily

30 Awesome Things to Do in RetirementCollege

14 Super Smart Ways to Save on TravelSave

The Rich Prefer Modest Cars — Should You Join Them?Cars

You’ll Soon Pay More to Shop at CostcoSave

10 Ways to Save When Your Teen Starts DrivingFamily

While so many people are looking for new ways to find a job and make money, some are going into business for themselves with the help provided by franchising.

While so many people are looking for new ways and opportunities to find a job and make money, some are going into business for themselves.

“I went ahead and found something that already was a great idea that provided a lot of the marketing support, a lot of the things that are weaknesses in my background. Max Muscle provides in order to make my business successful.”
-Stace Houk, Owner Max Muscle Franchise

And that sums up why people looking into self employment so often go the franchise route: they want to be their own boss, but they want support when they do it. But franchises have drawbacks too… many of which are common to anyone who’s self employed.

“Disadvantages are you have the ability to make more mistakes. Small businesses you feel the pressure that you’re the person. Everything is on you.”
-Stace Houk, Owner Max Muscle Franchise

Franchisees also pay fees of 3 to 10% of every dime they make to the home office that lowers profits. And with support comes requirements: like selling specific things or keeping specific hours. So before you go down this road, you have a lot to learn:

“Make sure they understand the business they’re getting into. The hours they are going to work. The employee types they’re going to have, how many employees they’re going to have. What the cost of the business is going to be after the initial set up so going forward you understand that.”
-Michael Bush, FranNet Franchise Consultant

“It is a risk and you’ve got to weigh all the risks that you are involved with it. It is your money and it is your finances and your long term security. So make sure that you really really like it and have a lot of passion and enjoy going to do everyday.”
-Stace Houk, Owner Max Muscle Franchise

Bottom Line? Franchises have their advantages and their disadvantages. Buy they are one path to self employment. Before you chose it however, make sure you do a lot of investigating before you invest.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!


Read Next: Lookin’ Good! How to Get a Killer Deal on Eyeglasses

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,964 more deals!