Most people who buy a franchise have never before owned a business. Part of the romance of franchising for these people is that it's new and untried. If you've never owned a franchised business, trying to imagine the experience using information from friends and family leaves you vulnerable to myths. To protect yourself, learn to identify the common myths and set yourself straight as you consider buying a franchise.
Andrew A. Caffey is a practicing franchise attorney in the Washington, DC, area; a former general counsel of the International Franchise Association; and an internationally recognized specialist in franchise and business opportunity law. E-mail him at ACaffey@compuserve.com
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This article was originally published in the October 1998 print edition of Entrepreneur with the headline: Myth vs. Reality.
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