Anyone running a franchise out there with any top tips?

[Tummum]

I have just returned to work after having DC3, and am hating every minute, so I am investigating the alternatives. I have always fancied running and owning my own business, but have never come up with a killer business idea of my own, so buying into a franchise with the added support that comes with it is an attractive option for me.

I have narrowed down my search and have one particular franchise I am now talking to. Before I decide whether to take the plunge, I wondered whether anyone had any experience or advice to impart about franchising....

TIA

look very carefully at exactly what the franchise is offering you and what the regular fees are. Are you restricted to purchasing material through them only? What advertising and promotions are made for you? Can you chat with a selection of franchise holders to get a feel for things or do they tell you who you can talk to (ie the selected yes men!)? Remember the dragons den attitude that the only person who generally makes money from a franchise is the person at head office running and selling it to other people. Sure there are good franchises - snap on, cartridge world, certain McDonalds, Subways certain courier delivery networks, but be very careful of a niche product. A good friend of ours bought into a caravan repair and maintanence franchise, total outlay was nearly £20,000. They had a call centre, national advertising, close links with insurers so work streams would be constant, he saw the accounts and job order book and it was booming! He worked his butt off with local caravan dealers to promote himself in his franchise area as well and in 9 months the franchise passed him ONE lead and no confirmed jobs! He is trying to sue them for misrepresentation, so far he has been made an offer of £5000 so he is really out of pocket and still out of work.
All of that said franchises can work for you as long as you realise that whilst the business is never truely yours, you will be working your backside off to make it stand up. There is a certain amount of money to be made, but you will be capped by your own time abilities and the product and its market penetration.
Also check out the federation of franchises for tips. If you do go for it best of luck!
Hope this is helpful.