My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.


When buying a franchise, should you stick with the industry you know?

min read
Opinions expressed by Entrepreneur contributors are their own.
Most franchise opportunities are set up with the assumption that new franchisees will not have any specific knowledge or experience in the specific industry of operation. Though this is not true of some (especially if they require a special state license in order to conduct business) it is true of most.

The franchise company will have set up training programs to teach new franchisees whatever they need to know about the specific industry as they prepare to open for business. They will also have designed marketing programs to attract customers based on the franchise company's knowledge and experience in the industry. This is one of the great advantages of franchises as business opportunities.

You also asked if you should focus on a "simple" business and that's a fantastic question. The answer is a resounding YES (though you also mentioned two food related businesses and most experts will tell you that there is no such thing as a simple business involving food).

It is hard enough to succeed in any new business and you want one you can learn easily and that doesn't have too many moving parts. The more complicated the business, the easier it is for you to make expensive mistakes while you're learning it so remember the KISS (keep it simple stupid) principle when evaluating opportunities.

More from Entrepreneur

New York Times bestselling author Nicole Lapin can help you pitch your brand to press and strengthen your media training.
Book Your Session

In as little as seven months, the Entrepreneur Authors program will turn your ideas and expertise into a professionally presented book.
Apply Now

Are you paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

Latest on Entrepreneur