Choosing the Right Franchise: Five Factors to Consider

Franchises are proven business models that offer an efficient transition into business ownership. When choosing the right franchise, there are a few factors to consider when ensuring the brand is a good match for you.


People become franchisees for many reasons but there is usually a prominent factor driving the decision. You will make a better decision in choosing the right franchise when you know what you want that franchise to do for you. Some examples include:

  • Wanting to work in an industry you are passionate about
  • Making the money you feel you deserve
  • Being your own boss and having control over your time
  • Becoming an entrepreneur

There are several different franchise models available and within each model, there are factors to consider such as return on investment, training, support, and marketing. 

Know the reasons you want to own a franchise and use it to keep focused on what you truly want when reviewing franchise options. 


Believe it or not, you don’t have to be directly involved in your franchise every day if you don’t want to. There are multiple levels of involvement: 

  • You can be hands on and directly involved in the day-to-day operations
  • You can be semi-absentee and manage employees within the operation, but have a manager handle the minutiae  
  • You can be completely absentee and only come in to handle big things around the business (maintenance, etc.) and have a manager handle the rest

Every franchisor has a required level of involvement. Be sure to fully understand the time requirement of the business before getting too far in the discovery process. 


The franchisor will have an in-depth analysis of the territory you request to franchise in. However, personal research is highly recommended. Competition is part of every industry; you’ll want to understand the competitive advantage the franchise you’re inquiring about has over others in the market. Research the brand’s competitors yourself to get a full picture of what you could be up against should you open a franchise location.


As you reach out to franchisors, pay attention to your initial experience. Are they quick to respond and eager to talk with you? Can they articulate the value of being a franchisee in a way that leaves you feeling confident?

Your initial impressions in choosing the right franchise can be a good indicator of your future relationship. In your franchise agreement, you will commit to a term agreement so it is important to feel confident being an ambassador of the brand for a number of years. Agreements can span from five years up to 20. 

You may also consider attending a franchise expo to meet different franchisors at the same time. You can ask questions and compare answers, speak to franchisees, and gain more insight into the relationship with the franchisor. 


When you receive the franchise disclosure document (FDD), you will learn more about the obligations of all parties. Beyond the numbers, there are some insights you can gain from the information provided in this document:

  • Item 1: This section contains the story of the franchise, the key people involved and their qualifications. This is the foundation of your franchise business. 
  • Item 3: This part discusses legal disputes. This is not uncommon in business and your franchisor should be transparent about explaining the issues. 
  • Item 19: These are the financial representations for the previous year. Franchisees report their sales numbers and those are listed in this section. There’s no guarantee that your franchisee will make as much, but it’s a good indicator to the health of the brand.
  • Item 20: This section provides data on the number of units in operation at the start and end of a year. Some turnover is natural, but significant swings in openings and closures should be discussed with the franchisor.
  • Item 21: Here are the financial statements. If the franchise you are interested in is owned by a parent company with other brands in their portfolio, the financial statements will reflect the parent company, not the particular franchise you are considering. You may wish to ask for more information on the franchise you are specifically interested in pursuing.


MY SALON Suite capitalizes on the salon suite trend by offering private suites for professionals in the beauty industry (hair stylists, skincare professionals, etc.) to rent. Our franchisees act as landlords and lease private spaces in the salon complex to professionals who can keep 100% of their revenues and sell their own products. 

Your salon complex can offer diversified services, allowing for multiple streams of revenue. The MY SALON Suite model allows for semi-absentee ownership. Most franchise owners work five to 10 hours per week. 
To learn more about the MY SALON Suite franchise opportunity, fill out this form, and one of our representatives will be in touch.