In addition to a well-known brand name, buying a franchise offers many other advantages that are not available to the entrepreneur starting a business from scratch. Perhaps the most significant is that you get a proven system of operation and training in how to use it. New franchises can avoid a lot of the mistakes start-up entrepreneurs typically make because the franchisor has already perfected daily routine operations through trial and error.

Excerpted from Start Your Own Business: The Only Start-Up Guide You'll Ever Need