Franchises

What advantages are there in being the first franchisee?

I am looking into a a company that has been recently established in 2005. The company is a kids culinary franchise with an emphasis on children's cooking, birthday parties, and cooking classes.
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There are certainly advantages in terms of being a pioneer and perhaps in terms of bargaining position when it comes to the conditions of your franchise agreement. But there are also risks that should be carefully weighed before deciding on such a course of action. If you reference the archived articles I've written, you'll find more help.
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The Top 200 Franchises Operating Around the World