Updated July 2025
With thousands of franchise opportunities available across 90+ industries—from food service and fitness to home improvement and education—it’s no wonder many aspiring entrepreneurs are asking, “How do I choose the best franchise?”
The truth is, the “best” franchise isn’t just about profits. It’s about alignment—between your goals, values, financial resources, and the franchise’s business model. If you’re serious about getting into franchising, you need a smart, step-by-step strategy that goes beyond flashy marketing and digs into what truly makes a franchise worth investing in.
7 Things to Consider When Evaluating Your Franchise Opportunities
To make a confident and informed decision, take the following steps:
#1 – Define What “Best” Means for You
Before diving into franchise directories or talking to consultants, get clear about what matters most to you. Are you looking for:
- A franchise with low startup costs?
- Strong franchisor support?
- Flexibility or work-life balance?
- An opportunity aligned with your values or passions?
- Proven profitability and scalability?
Knowing your personal and professional goals helps you filter out businesses that may be profitable on paper but don’t match your lifestyle or ethics.
#2 – Focus on Ethical and Transparent Franchises
When setting up a franchise, don’t just chase potential earnings—look for franchisors who are upfront about their model, support systems, and legal obligations. Ethical franchisors don’t pressure you to sign quickly or make unrealistic income guarantees (which is illegal, by the way).
To ensure a franchise opportunity is legitimate and trustworthy:
- Check for membership in credible associations, like the International Franchise Association (IFA). These organizations enforce ethical standards and best practices in franchising. Joining a franchisee association offers franchisees several benefits.
- Review the Franchise Disclosure Document (FDD) carefully. This legal document outlines key details such as startup costs, fees, litigation history, franchisee obligations, and more. You can also reference the FTC’s Consumer Guide to Buying a Franchise to learn how to properly evaluate the FDD.
#3 – Work with a Franchise Consultant (at no cost to you)
One of the best ways to start investing in a franchise is by working with a reputable franchise consultant. At FranNet, our experienced consultants offer their services free of charge and can help you:
- Identify opportunities that match your goals and budget
- Avoid common pitfalls and scams
- Understand your financing and legal obligations
- Connect with reputable franchisors already vetted for quality and ethics
A good consultant can dramatically simplify the steps to buying a franchise while helping you feel supported along the way.
#4 – Talk to Current Franchisees
Want to know what it’s really like to run a franchise? Go straight to the source.
Reach out to current or former franchisees and ask about their experiences. Key questions to ask:
- What kind of support do you receive from the franchisor?
- Was the training sufficient?
- Are you satisfied with your income and work-life balance?
- Were there any surprises after signing the contract?
- Would you invest in this franchise again?
These conversations are invaluable when you’re trying to figure out how to evaluate franchise opportunities.
#5 – Get Legal Help Before Signing
Once you’ve narrowed it down to a few franchise options and are reviewing contracts, bring in a franchise attorney. Franchise agreements are dense and packed with legal language that can have long-term consequences if misunderstood.
A qualified franchise lawyer can help you:
- Spot red flags or unfair terms
- Understand your rights and responsibilities
- Negotiate terms if necessary
- Protect your investment
Never rush this step—no matter how eager the franchisor is to get you signed.
#6 – Be Wary of Pressure and Promises
A trustworthy franchisor gives you the time and resources to make an informed decision. If you’re being pressured to sign quickly or promised guaranteed earnings, treat it as a red flag.
Remember: franchising is an investment, not a guarantee. A good franchisor will focus on transparency, support, and building a long-term relationship—not just closing a sale.
#7 – Take the First Steps to Franchise Ownership
Now that you understand how to choose a franchise, you’re ready to take the next steps:
- Start with self-assessment: Know your budget, risk tolerance, and goals.
- Explore industries and narrow down your interests.
- Review franchise listings and compare models.
- Speak to consultants and franchisees.
- Review your FDD and consult a lawyer.
- Prepare a business plan and secure financing if needed.
Each of these steps to owning a franchise brings you closer to becoming your own boss—with the backing of an established brand.
Ready to Explore the Right Franchise for You?
At FranNet, we’ve helped thousands of aspiring entrepreneurs navigate the franchise buying process. If you’re looking for vetted, ethical franchise opportunities or personalized franchise buying advice, our experienced consultants are here to help—at no cost to you. Taking the time to find the right franchise to join is worth it, and we’ll be by your side from start to finish. Schedule your free consultation today!