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Word to the Wise

A few things to consider before tackling franchising

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This story appears in the July 2004 issue of Entrepreneur. Subscribe »

Last month, we discussed the opportunities franchising offers educated professionals. But we would be remiss not to warn you about several key things to be aware of-factors that could spell disaster if not well-thought-out.

If you're from the business or professional world, franchising can feel like a different universe. Scott Shane, economics professor at Case Western Reserve University in Cleveland, points out a couple of differences:

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