Running your own business can be a daunting step to take but becoming a franchisee of a well-established, proven business will give you the best possible start.

However, there is a lot of work to do before you will be ready to part with any money. You need to research your chosen franchise and be fully aware of what is involved.

We’ve teamed up with HSBC to bring you 10 tips on what you should do:

1. Find out what franchises are available: There are franchise exhibitions, ¬directories, magazines, all devoted to ¬franchising and starting a business. Start by visiting the British Franchise Association website.

There are more tips here.