Difficulty: Moderately Challenging
Step1
Consider your interests. If you are going to become a franchisee, you want to be passionate about the product or service you will be selling.
Step2
Determine how much money you have to invest. Every franchise has different financial requirements, so it's essential that you know how much you can afford to invest before you begin researching your options.
Step3
Research to determine whether there is a demand for the business franchise you are considering. For example, if you live in the middle of a desert, you probably won't want to become a franchisee of a company that sells ski equipment.
Step4
Identify the competition in your local area: how many businesses are similar to the one you are considering? If there is an overabundance of similar businesses, you might want to move on and look for another potential franchise.
Step5
Evaluate the training offered by the franchisor. Because training and ongoing support are so important to you, to your employees and ultimately to your franchise's success, choose a franchisor that offers both.
Step6
Talk to other franchisees of the same franchisor and ask plenty of questions about training, support and if the franchisee is happy or has regrets about working with the company you are considering. Don't skip this important step: it could mean the difference between choosing the right franchise and choosing a franchise that's not a good fit for you.
Step7
Consider the potential for stability and growth. You want to run a business that will remain stable and grow, so opt for a franchise that has a proven track record and that offers a product or service that will be in demand both now and in the future.
Step8
Consult with your lawyer. Before you make a firm decision and sign on the dotted line, talk with your attorney and have him review contracts and franchisor material to determine if it is in your best interest to move forward with becoming a franchisee.
Novice 
