Get All Access for $5/mo

Is Running a Franchise Business Right for You? (60-Second Video) Here are three ways to determine if being a franchise owner is right for you.

By Diana Falzone

Opinions expressed by Entrepreneur contributors are their own.

Wondering if becoming a franchise owner is the right move for you? Here are three things you can do to help you find out.

  1. Check yourself. There's a saying that becoming a franchise owner puts you in business "for yourself but not by yourself." If you're a "my way or the highway" type of person, franchising might not be for you. But if you want to start your own business with a built-in structure and support system, this could be the perfect fit.
  2. Reach out. Investigate industries that interest you and show signs of growth. Contact all of the franchise companies in your area that operate in those industries and ask for information. Any reputable company will be happy to send your information at no charge.
  3. Check their reputation. Check with the Better Business Bureau and also request a Dun & Bradstreet report to get details of the company's financial standing. If you like what you see, you could be on your way to your next big adventure.

Watch the next 3 Things to Know video

Diana Falzone

Journalist

Diana Falzone is a journalist. She is an anchor for Bold TV. Previously, she was a reporter for Fox News Channel and a talk show host for SiriusXM Radio.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Growing a Business

How Connecting With the Right Audience Drives Long-Term Business Success

Here's how targeted lead generation can help you unlock higher conversions, stronger brand loyalty and scalable growth.

Leadership

Should I Stay or Should I Go? 8 Key Points to Navigate the Founder's Dilemma

Here are eight key signs that help founders determine whether to persevere or let go.

Starting a Business

They Bought an Ice Cream Truck Off eBay for $5,000. Now Their Company Has 70 Shops and Sells Treats in Over 12,000 Stores.

For the episode of "The Founder CEO," the co-founder and CEO of Van Leeuwen Ice Cream explains how one ice cream truck grew into a successful nationwide brand.

Marketing

Your Most Powerful Marketing Weapon Is Hiding in the Finance Department — Here's Why

Transform your marketing leadership by turning finance from a barrier into a strategic ally. Learn how aligning with your finance team can drive unprecedented growth and innovation.

Business News

'You Own Nothing Here on Social': Meta Outage, Looming TikTok Ban Has Creators Questioning How Much of Their Business They Really Control

With repeated tech outages and a possible TikTok ban on the horizon, creators are looking for new ways to influence. Turns out, one old-school way still reigns supreme.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.