Focus on Franchising

In a lean economy, many entrepreneurs think it is safer to buy a franchise than start a new business. There are advantages and disadvantages to both. Franchise fraud is a serious problem, and just because you purchase a business with an established brand does not mean that your business will succeed. On the other hand, we all know that brand means a lot, and being able to piggyback on a successful brand can ease some of the difficulty of starting a business.

Here are some articles and information to review before you buy a franchise:

• Is It Time to Buy a Franchise? from BusinessWeek
• The FTC's Consumer Guide to Buying a Franchise
• BusinessWeek's slideshow What It Costs to Buy a Franchise

Buying a franchise is one place you do not want to skimp on legal services. Be sure to work with an attorney who will review the franchise's documents and contract for you.