This is a good question because to the first time buyer, simply the word ‘franchise’ seems to indicate a safe and profitable investment. And that is perhaps the most dangerous pitfall confronting prospective franchisees.
One must understand that absolutely ‘any’ type of business CAN be franchised, but that doesn’t mean in the least that it SHOULD be franchised. Although there are certainly outstanding opportunities, every buyer must undertake serious franchise due diligence before making a decision to purchase. Unfortunately, I can say from experience that the vast majority of buyers conduct no form of quality analysis before buying, and then, of course, the eventual outcome is nothing short of a dice game.