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Playing It Right

As an entrepreneur, taking risks is part of your nature. But when it comes to franchise research, it doesn't pay to gamble. Keep these points in mind before choosing a franchise.

This story appears in the October 2003 issue of Start Up.

Entrepreneurs and Vegas gamblers have a few things in common: They find thrill in taking risks, play the house odds and don't like losing. They also share this hard fact: A percentage of them do lose.

Franchising has always appealed to entrepreneurs who want better than house odds of success for their hard-earned investment. And while buying a franchise is no guarantee of success, it opens the way for a new bet--sharing a portion of the upside with the franchisor, in exchange for training, assistance and a marketplace identity that softens the downside of an entrepreneur's business risk.

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