Dear Biz,
I was recently made redundant and have been thinking of buying a franchise.
What are the pros and cons, and what should I look out for?
Tony, by email
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Biz says: Only you can decide if it is a good option for you.
You need to thoroughly research the franchise you are thinking of taking on.
And you’ll need to do a business plan, in the same way as you would if you were starting your own business from scratch.
That process will help you work out vital things such as set-up costs, typical returns you can expect, if you are right for franchising and whether there is actually a market for the business in your area.