Full access to Entrepreneur for $5

Now You're Cooking

What are the ingredients for franchise success? Our secret recipe for satisfying your entrepreneurial appetite.

This story appears in the January 1999 issue of Entrepreneur. Subscribe »

Choosing from among the thousands of franchise opportunities available to investors is not unlike walking into a large grocery store. There's lots to buy, but you can spend every dime you have and still not go home with what you need to make dinner. Selecting the right franchise requires that you have a detailed shopping list and a clear idea of the end product. It's best to start with a recipe for the dish you're making and a list of the ingredients you'll need, and work from there. Try doing it the other way around--walking into the store with no idea what you need--and what happens? You forget a key ingredient. The soufflé falls flat, the lasagna goes limp, or the cake craters.

It takes hard work, thought and planning to find the right investment. And while the ingredients may change from person to person, the process for finding the right franchise investment is essentially the same for everyone.

Continue reading this article -- and everything on Entrepreneur!

Become a member to get unlimited access and support the voices you want to hear more from. Get full access to Entrepreneur for just $5!