Is Franchising Right for You?

It can be an incredible journey—but you must look closely before you buy.

- MATT HALLER

People often ask me the same question: “How do I know if franchising is the right decision for me?” As the leader of the International Franchise Association (IFA), I know some things to be true: Franchising is an incredibly powerful business model. It has opened the door for hundreds of thousands of entrepreneurs as well as millions of employees. And according to IFA members, despite recent macroeconomic challenges, franchisors are seeing more interest from potential franchisees than last year.

But that doesn’t mean franchising is right for everyone, or that every brand is right for you. So here’s what I (and the IFA) always tell people, whenever they ask if they should buy a franchise.

Your north star must be conducting due diligence in the presale process. Gather as many data points as you can to make the most informed decision before investing—and once you’re looking at a brand, focus on these three areas:

1/ Understand the brand.