How About Buying a Franchise?

What to do if buying an existing business doesn't sound right for you but starting from scratch sounds a bit intimidating
1 min read
Opinions expressed by Entrepreneur contributors are their own.

Take a stab at franchise ownership. What is a franchise--and how do you know if you're right for one? Essentially, a franchisee pays an initial fee and ongoing royalties to a franchisor. In return, the franchisee gains the use of a trademark, ongoing support form the franchisor and the right to use the franchisor's system of doing business and sell its products or services.

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

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Starting, buying, or growing your small business shouldn’t be hard. Guidant Financial works to make financing easy for current and aspiring small business owners by providing custom funding solutions, financing education, and more.

Latest on Entrepreneur