When you are looking at franchise opportunities to find the perfect franchise business for you, you will eventually be confronted with the FDD. This acronym stands for Franchise Disclosure Document, and it is an important piece of the franchise validation process. 

Today, we are going to look more closely at one component of the FDD: lawyer review. Let’s dive deeper into this frequently asked question about franchise opportunities. 

Pros, Cons, Timing – and What Most Buyers Get Wrong

If you are seriously exploring franchise ownership, at some point you will hear this advice: “You should have a lawyer review the FDD.”

That may be true. But it is also incomplete.

As someone who walks clients through the franchise business evaluation process every day, I’ve seen both sides. On the one hand, there are buyers who skip legal review entirely. And on the other hand, there are buyers who hire the wrong attorney and create unnecessary friction.

To avoid creating problems as you explore franchise opportunities and look for the best franchise to own, let’s break this down clearly and take a look at the pros and cons of working with a franchise lawyer to review the FDD. 

Fit Tip: Still have questions about the FDD in general? We have an article that can help! If you did not stop off and read about “Understanding the Franchise Disclosure Document (FDD),” I recommend starting there before continuing.

The Pros of Using a Franchise Lawyer

Before we talk about the pros of using a franchise lawyer when you are looking at how to buy a franchise, let me make one thing clear: We are not talking about just any lawyer. You need to use a franchise lawyer (if you are using a lawyer at all). 

I often say this to clients: “You would not go to a franchise lawyer to advise on your divorce settlement, so let’s not go to the friend of the family real estate lawyer to review your FRANCHISE disclosure document.” Right? Here is why…

1. Franchise Lawyers Understand Franchise-Specific Law

Franchising is governed by both federal regulation and state registration requirements. A franchise attorney understands:

• State-specific addendums
• Registration states vs. non-registration states (learn more in this article about FDD re-registration and “going dark”)
• Relationship laws (like termination protections in certain states)
  

A general business lawyer may have a deep understanding of these franchise-specific concepts. Remember, practicing law is a highly specialized business. When you are looking for the best franchise to own, you want an expert to help advise you!

2. Franchise Lawyers Know What Is Standard vs. Unusual

Franchise agreements are heavily one-sided. That is normal. After all, franchisors want to convince you that theirs is the best franchise to own. 

Fit Tip: That’s where I come in – I am not trying to sell you on one franchise versus another franchise business. We simply work together to determine the franchise opportunities that best fit your needs and are most aligned with your goals as a business owner. 

Anyway, back to franchise lawyer information. An experienced franchise attorney can tell you:

• What is standard across systems
• What is unusually restrictive
• What creates long-term risk exposure

That perspective matters when you are investing in a franchise business. 

3. Franchise Lawyers Clarify Long-Term Risk

With their extensive industry knowledge, a franchise lawyer can help you understand:

• Personal guarantees
• Transfer restrictions
• Liquidated damages
• Default triggers
• Non-compete scope

You are not just signing up for year one with your franchise business. You are signing on for a relationship lasting five to ten years… or maybe even longer.

The Cons (or Limitations) of Using a Franchise Lawyer

Now, let’s balance our conversation about franchise business lawyers and discuss the drawbacks of a franchise lawyer reviewing your FDD. 

1. Franchise Lawyers Cost Money

Legal review can range from $2,500 to $5,000 or even more, depending on the complexity of what you are looking for.

For some buyers, that feels like a heavy ask before they have even decided. Plus, investing in a franchise costs money, so you may want to save your funds for the Franchise Fee. 

2. Franchise Lawyers Will Not Tell You if This Is a Good Business

A lawyer reviews legal risk. They do not:

• Evaluate market viability
• Validate financial model assumptions
• Assess operational fit
• Tell you whether the brand aligns with your lifestyle goals

Legal strength does not equal business viability. This is why it is important to explore a franchise business from every angle. 

Fit Tip: Working with The Franchise Fit Company gives you an opportunity to investigate a variety of different franchise opportunities to find the best franchise to own for YOU. We support you through an unbiased review of your options so that you can feel confident moving forward.  

3. Some Franchise Attorneys Create Fear

This point goes back to the importance of using a franchise-specific lawyer. If an attorney does not specialize in franchising, they may:

• Flag standard clauses as “dangerous”
• Overreact to common franchise language
• Suggest unrealistic negotiations

All of these issues can lead to tension with the franchisor – unnecessarily.

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When Should You Have a Franchise Lawyer Review an FDD?

So, is there a situation when you should have a franchise lawyer review the FDD from a franchise business? And if so, when? Here is my professional recommendation:

You can consider having a franchise lawyer review the FDD after… 

• You have validated with multiple franchisees
• You understand the financial model
• You feel confident in the brand
• You are preparing to sign
  

And make sure you do so before:

• You attend a Meet the Team or Discovery Day

Legal review should be the final diligence layer, not the first step on your list once you receive the Franchise Disclosure Document.

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Why You Should NOT Use a Family or Divorce Lawyer

This is important. Remember my comment above?? Let me shed more light onto this topic to drive the point home.

A divorce attorney or family lawyer may be excellent at their specialty… but franchising is its own niche. I will say it again: You would never hire a personal injury lawyer to litigate your divorce. You would never hire a divorce lawyer to settle a workman’s compensation dispute. Law is a specialized practice, so hiring a specialized lawyer DOES matter. 

Here’s why it makes such a big difference:

• Franchise agreements are system-wide contracts used across hundreds of owners
• Many clauses are intentionally non-negotiable
• Certain “harsh” language is industry standard
• Franchise relationship law is specialized
  

Using the wrong attorney can create a number of issues, including… 

• Alarming you unnecessarily
• Damaging rapport with the franchisor
• Creating redlines that will never be accepted
• Slowing down your process

You want someone who understands franchise norms, not someone who treats the FDD like a real estate contract. Choosing a specialized lawyer makes a big difference when evaluating franchise opportunities. 

Will a Franchisor Negotiate a Redlined FDD?

The short answer? Rarely.

Longer answer? The FDD itself is a registered disclosure document. It is not negotiated. The Franchise Agreement inside it may have limited flexibility.

Here’s the reality. Most established franchisors… 

• Do not negotiate core economics
• Do not modify operational standards
• Do not change system-wide rules

There are a few things that may be more possible to negotiate. In rare cases, you might see:

• Minor territory clarifications
• Payment structure adjustments
• Addendums for multi-unit development
• State-required changes
  

But walking in with heavy redlines as a single-unit buyer? That is usually not productive. AND, you are setting yourself up for disappointment when they say NO to your suggested changes.

Franchising works because of uniformity. If every franchisee negotiated custom terms, the system would break.

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So… Should You Use a Franchise Lawyer?

In most serious franchise purchases, yes. But the type of lawyer is important. Make sure that you… 

• Use one who specializes in franchising.
• Use them at the right stage.
• Understand their role.
• Don’t expect them to negotiate the system into something unrecognizable.

Would I ever tell someone NO to an attorney review? Yes, I would. There is a time and place for using a franchise attorney, and I will help you navigate choosing that moment. 

When you feel comfortable with the agreement but you are only wanting a review for negotiation purposes, that is wasting your time and money.   

Legal review is about understanding risk – not rewriting the model.

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Final Franchise Fit Company Thoughts

Franchise ownership is not just about reading a contract. It is about so much more… 

• Lifestyle alignment
• Financial readiness
• Operational capability
• Brand trust
• Mutual validation

A franchise lawyer protects you legally. But your broader diligence – validation calls, financial modeling, discovery day conversations – protects you strategically. 

Know the difference.

Take the Next Step to Find Your Franchise Business

Schedule a free meeting right here. I can’t wait to chat with you and discuss franchise opportunities, building your business, and starting a new chapter in your career. Working with me is always 100% free, 100% of the time. Talk to you soon!

Before you buy a franchise, you will go through a process of exploring different franchise opportunities. First, we will work together to narrow down which franchise opportunities are best for your needs and goals as a business owner. Then, we will embark on a detailed exploration of a select few franchise opportunities. During this more concentrated stage of the process, you are going to have what is called Validation Calls. So, what are Validation Calls and why are they important?

Validation Calls give you the opportunity to talk to existing franchise owners within a brand’s system before you buy a franchise. You will speak with a variety of different owners to learn more about the experience of owning a given franchise.

What should these Validation Calls cover? Here are some key Validation Calls you should have when it is almost time to buy a franchise.

The “Day-in-the-Life” Conversation

Your first priority is understanding the reality of the role – not the brochure version. You’re not just going to buy a franchise. You’re going to buy a job description for yourself for the next three to ten years. This is the time to understand what is required of the owner to be successful. In particular, does this brand truly FIT your expectations of day-to-day involvement?

Sample Questions to Ask:

• “What does a typical day look like for you from start to finish?”
• “How much of your time is spent on sales, operations, people management, and admin?”
• “What are 2–3 tasks you personally can’t delegate right now?”
• “If someone shadowed you for a week, what would surprise them the most?”

What you’re listening for:

• Does their day align with how you actually want to spend your time?
• Are they mostly in the field? In the office? Networking? Hiring and coaching?
• Are they doing work that plays to your strengths or your weaknesses?

If their day sounds like a life you would dread, that is a sign that the model might be fine, but the fit is wrong.

The Ramp-Up & Learning Curve Conversation

The second conversation is about how hard it really is to get from zero to functioning after you buy a franchise.

Sample Questions to Ask:

• “How did your first 6–12 months go compared to what you expected?”
• “What were the hardest parts of getting started—licenses, hiring, learning the systems, something else?”
• “How long did it take before you felt confident and not constantly in ‘figure it out’ mode?”
• “If you were starting again, what would you do differently in your first 90 days?”

What you’re listening for:

• Are owners consistently saying, “It took longer than I expected”?
• Were there surprises the franchisor should have prepared them for?
• Does the learning curve match your tolerance for discomfort and chaos during that first year?
  

You want honest stories, not just timelines. That’s where the truth lives.

The Financial Reality (Without Being Awkward) Conversation

Money questions feel delicate, but you can absolutely have them without asking for someone’s P&L. How you ask questions is important, too. Remember, everyone comes from VERY different backgrounds and has different levels of comfort with money questions. Keep the questions simple.

Sample Questions to Ask:

• “Did your actual numbers roughly match what you saw in the FDD or were you above/below?”
• “What is your average job ticket price?”
• “What are your big monthly expense items to run the business” 
• “Knowing what you know now, would you have come in with more capital?”
• “Have you been able to pay yourself? If not yet, when do you think you will?

What you’re listening for:

• Are owners consistently under- or over-performing what’s represented?
• Is there a theme around underestimating working capital?
• Are they proud and confident talking about the financial trajectory, or hesitant and vague?

You’re not looking for exact dollar amounts for these franchise opportunities. You’re looking for patterns and ranges – and whether this opportunity fits your reality and risk tolerance. Remember, you are in control of making financial decisions for YOUR business. Get the back of the napkin numbers: job revenue, expenses… Boom, you have some margin, and then you know your debt.  

The Franchise Support and Relationship Conversation

A strong brand isn’t just a logo. It is also the support system behind you. When you are looking for the best franchise to buy, it is not only about money. It is also about the support you will receive and the relationship with the company behind the franchise opportunities.

Sample Questions to Ask:

• “How would you describe your relationship with the franchisor?”
• “When you run into an issue, how responsive is the support team?”
• “What kind of help do you realistically get with marketing, operations, and training?”
• “Have you ever felt like the franchisor wasn’t listening? How did they respond?”
• “How much do you engage with other owners?”  “Are they supportive?”

What you’re listening for:

• Is there a culture of partnership or policing?
• Do owners feel heard or brushed off?
• Are they excited about where the brand is going, or worried?

If multiple owners use words like ignored, slow, frustrating, pay attention. Support doesn’t magically get better after you sign.

The Customers and Lead Generation Conversation

No leads = no revenue, no matter how great the brand looks on paper. How is this brand going to support you after you buy a franchise in gaining customers for your business?

Sample Questions to Ask:

• “Where do most of your customers really come from: corporate marketing, your own networking, referrals, something else?”
• “How effective has the franchisor’s marketing been in your market?”
• “What marketing activities do YOU do that move the needle the most?”
• “Have there been any big shifts in demand or competition since you started?”

What you’re listening for:

• Is the brand marketing engine actually helping—or is it mostly on the owner?
• Are there specific tactics that consistently work across owners?
• Is demand stable, growing, or shrinking in different markets?

This is where you separate hype from what actually drives business.  Please note, YOU are responsible for your local marketing.  All owners will complain about lead flow – what are they doing about it from all angles is important to understand. 

The Challenges, Regrets, and “Real Talk” Conversation

This might be the most valuable conversation you’ll have if you ask the right questions… and then stop talking. Listening to owners talk about the realities of franchise opportunities is absolutely priceless.

Sample Questions to Ask:

• “What’s the hardest part of this business that no one prepared you for?”
• “Have you ever seriously considered selling or walking away? What triggered that feeling?”
• “What do you like least about being part of this franchise system?”
• “If someone you loved was considering this brand, what warning would you give them?”
  

What you’re listening for:

• Common pain points: hiring, margins, burnout, competition, support gaps.
• Signs of misalignment between what was sold and what was experienced.
• Whether the challenges are things you can live with… or not.
  

No franchise is perfect. You’re not looking for a brand with no problems. You’re looking at whether the problems are acceptable trade-offs for the opportunity.

The “Would You Do It Again?” Conversation

This is the ultimate gut-check question. Before you buy a franchise, this one is the absolute MUST-ASK.

Sample Questions to Ask:

• “If you could go back in time, would you buy this franchise again?”
• “Would you choose the same brand, or a different industry/model?”
• “Would you pick the same territory or market?”
• “What kind of person do you think truly thrives in this system?”

What you’re listening for:

• Their first reaction—a quick “Yes, 100%” sounds very different from a long pause.
• Subtle hesitations like, “Yes, but…” or “Probably, if…” — those “buts” matter.
• Their description of who thrives—does that sound like you?
  

This is where you often get the most honest, distilled perspective: regrets, gratitude, pride, and frustration all in one.

How Many Owners Should You Talk To?

This is a question so many clients ask when looking for the best franchise to buy. As a rule of thumb:

• Average: 3–5 owners
  
• Ideally: A mix of…
  
  • High performers
  • Average performers
  • Newer owners (in first 1–2 years)
  • More mature owners (3+ years in)
    

You want to see the whole spectrum, not just the “highlight reel” you’re introduced to. Remember to have a purpose for each call. If you are trying to talk to everyone to build a case NOT to do it – you are taking the wrong approach. Get your concerns alleviated or proven.  

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Bringing It All Together

Talking to existing franchise owners is not about getting one perfect answer that tells you “yes” or “no.”

It’s about:

• Spotting patterns across multiple conversations
• Checking those patterns against who you are and what you want
• Confirming whether this franchise is the right fit, not just a recognizable logo
  

The Franchise Fit Company is here to help you navigate, explore, and ask the right questions. Want to learn more about franchise opportunities? Book time on my Calendar here!

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Schedule a free meeting right here. I can’t wait to chat with you and discuss franchise opportunities, building your business, and starting a new chapter in your career. Working with me is always 100% free, 100% of the time. Talk to you soon!

One of the most common reasons people explore franchise ownership is a single word: Freedom. But here’s the thing – freedom doesn’t mean the same thing to every person. Here are a few direct quotes from my clients related to finding freedom in owning a franchise:

“I am looking for a work/life blend.”

“We are looking for control of decisions, family-time, and flexibility.”

“I want to have something that is OURS, not working from someone else’s dream.”

“How can I do something that resonates with my lifestyle?”

“I am tired of working for the MAN.”

The list can go on and on…

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Freedom Is Personal

For some, freedom in owning a franchise means control over their schedule – being able to decide when they work and when they take time off.  For others, it is financial independence – earning enough to pay off debts, build wealth, or secure a future for their family. For a few, freedom is creative control – the ability to run the business their way, make decisions without corporate red tape, and steer their own ship.

The mistake? Believing freedom only comes in one form, or that someone else’s definition has to be yours. I post a lot about my personal freedom that this career and franchise business ownership has afforded my family… But what I built may not adhere to the same goals that you or the next business owner have.

My Freedom: A work from home franchise, making my own schedule, defining my success, executing how I want, enjoying farm life and ballfields. What is yours?

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Owning a Franchise Gives You Options – But Not Without Trade-Offs

Owning a franchise can absolutely deliver more flexibility and control than most jobs – but it also comes with responsibility. Early on, “freedom” might look more like the freedom to work harder than you ever have before. When I promote freedom in franchise business ownership – believe me, I am not pulling the wool over on hard work. What I am saying is, YOU get to decide. 

I can take as much time as I want to be at the farm, riding horses, or daydreaming. But when my foot comes off the pedal, my business reflects that. The key is that no one is looking over my shoulder, determining when I hit the gas pedal… So I can complain about business being down or celebrate success. My decision, my choice, my freedom.

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Defining Your Freedom Before You Choose a Franchise Business

Before owning a franchise, it is crucial to determine what freedom looks like for YOU. Freedom and flexibility are some of the main advantages of a franchise… But they look different for every person. So, how do you find out your own definition of freedom in franchise business ownership?

When I work with clients, I ask questions like:

• What do you want your day-to-day life to look like?
• How many hours do you want to work, realistically?
• What’s more important: income potential or time flexibility?
• Do you want to be customer-facing or behind the scenes?
• Do you want a team to manage, or do you want to be the primary face of the business?

Your answers to these questions shape the types of franchises that will actually deliver the kind of freedom you envision. For example, if you do not want to work weekends, I am NOT going to promote a restaurant-type business (yep, even if you came in asking about a Smoothie King).  That does not align with your ideal FIT. 

By designing franchise business ownership according to your definition of freedom, we will provide more franchise opportunities for success and even financial outcomes. Why? The business will cater to YOU and what you want your life and role to look like. Just because Billy down the street is looking like he is printing money with a particular franchise business does not mean you will do the same, since the work may not align with your goals and strengths.

Your Freedom, Your Fit

Fit Tip:  Freedom in franchise business ownership isn’t something someone else can define for you. It’s a deeply personal choice – and the right franchise should be the one that aligns with your unique vision of independence. Be honest with yourself. It is your scoreboard.

Schedule a free meeting right here. I can’t wait to chat with you and discuss franchise opportunities, building your business, and starting a new chapter in your career. Working with me is always 100% free, 100% of the time.

FAQs About Franchise Business Ownership and Freedom

How do franchises work?

A franchise business is part of a proven system run by the franchisor, who determines brand guidelines and structure that the franchisees follow. When you look at owning a franchise, you need to be comfortable with adhering to these guidelines while building your business and embracing the freedom and other advantages of a franchise.

What is a franchise owner?

A franchise owner is someone who owns a franchise business. Normally, they are not the creator of the business – but they believe in the brand and have bought into the company. A franchise owner pays royalties to the franchisor in order to use the brand’s reputation, branding materials, marketing prowess, and more. There are advantages of a franchise to both the owner and the bigger franchisor.

How to become a franchise owner?

Becoming a franchise owner begins with defining your ideal picture of career success. What kind of freedom are you looking for in owning a franchise? Do you want a work from home franchise or one where you will be on the move every day or eve in an office? If you are looking at owning a franchise, let’s talk. I’ll help you find the perfect FIT for you.

How much do franchise owners make?

There is no one answer to the question of how much franchise owners make. It depends on the brand, the market, and their individual levels of success. Franchise owners who work to find the right FIT before owning a franchise are likely to have better success as a franchise business owner and make more money. That’s a fact!

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Ready to define Freedom for YOU? Contact me today – no cost, no sales tactics, just learning and exploring together. Talk to you soon!

When you are researching franchise business opportunities, one of the most anticipated sections of the Franchise Disclosure Document (FDD) is Item 19: Financial Performance Representations (FPRs). This is where franchisors may (but are not required to) share historical revenue, expense, or profit data from their franchise system.  

On the surface, it feels like the holy grail of decision-making: Finally, some numbers! But here’s the reality: Relying solely on Item 19 to decide whether to buy a franchise is a mistake.

Additionally, Item 19 is not a good source to compare one franchise business to another. Comparing franchise opportunities based on their Item 19 information is the epitome of comparing apples and oranges!

Sit down for this one… Here is why:

1. Not All Franchisors Provide the Same Information (Not Kidding!)

Franchisors are not required to include Item 19… But they do because it helps sell franchise businesses. Some provide detailed financials, while others give partial or limited data (e.g., gross revenue averages without expenses). You might be looking at a “best-case scenario” instead of a complete financial picture.  “It’s like a box of chocolates…”

Fit Tip: Whether you are looking at high or low cost franchise opportunities, Item 19 is just part of the whole picture. If your goal is to find the most profitable franchise for you to own, there are many other sources of data to investigate in order to have a better understanding of a brand’s financial landscape.

2. Averages Tell You What?  Not Much.

Many Item 19 disclosures are based on averages, which can be misleading. An “average” can be skewed by a handful of top-performing franchisees, while the majority may be operating below that number. Without context, the average can set unrealistic expectations.

Fit Tip: Talk to existing franchise owners (and not just the ones the brand recommends) to get a better picture of what a day in the life really looks like. The key to success is not just finding the most profitable franchises to own, but also finding the best FIT for you.

3. Expense Data = Absent.

Even when revenue is disclosed, net income is rarely shown. Item 19 often leaves out critical costs of a franchise business (think rent, labor, marketing, or debt service), which directly impact what you take home. High revenues don’t equal high profits.

And don’t forget – what one owner might expense is wildly different from how another owner manages write-offs and compensation. We are over here expensing home improvements, and another person is expensing their new Audi.  See my blog featuring net income – that is another story for another day.

4. The numbers are HISTORY!

The numbers in the Item 19 are historical data points. They are not futuristic. They are not current year-to-date. They do not represent the current market landscape. The numbers are completely a reflection of the previous year’s performance by owners that were operating a full calendar year prior to updating the FDD (yearly occurrence).

5. Performance Depends on You – And That Is a FACT!

Yes, I mean to tell you that just because this is a franchise, it does not mean you automatically make money! Sorry. Your results won’t just depend on the franchise brand… the most profitable franchises to own will depend on the location, market size, your management style, and your ability to execute the model too. Item 19 can’t tell you how well you will perform—it only shows what others have done under different circumstances.

Fit Tip: When you are looking at a franchise business, how well others have done monetarily is at the bottom of the list of reasons to choose a certain model. You need to pick a franchise that will let your strengths shine, aligns with your expectations around day-to-day life and flexibility, and more.

6. There is Gold In Validation

Numbers are important, but the real insights come from conversations with existing franchise owners. They’ll tell you what margins look like, what unexpected expenses come up, and how long it took them to cover expenses monthly, operate in the “black” or hit break-even. Validation calls reveal the day-to-day realities that Item 19 cannot capture. In essence, we can break it down to simple math:  How much does it cost to run the business monthly (without bells and whistles), and how much does the average ticket bring in? Go ahead… Pull your napkin out and see how many customers you need to break even monthly. Can you do it PLUS some?  

As for the validation stage, we can talk later about how to manage validation calls and pull out the data to use in how YOU will operate. Remember, you are going to run the franchise business… And you may not run it exactly like them. Can you get excited about the typical day-in-the-life?

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Fit Tip:  Item 19 is a useful tool, but it’s only one piece of the puzzle. Don’t let it be the deciding factor. Pair it with thorough validation, market research, and an honest evaluation of your goals and resources – Find Your Fit, and that will show you the money!

Ready to Find Your Fit? Contact us today to get started with your 100% free Franchise Fit consultation. We will help you kick off your journey to pinpointing your perfect fit – whether that is a home renovation franchise, a pet franchise, a fitness franchise, or something else altogether.

FAQs About Franchise Business Opportunities and the Item 19

What is an Item 19 in franchising?

In franchise businesses, “Item 19” refers to a specific section of the FDD (Franchise Disclosure Document). This section covers Financial Performance Representations, or FPRs. Things that could be shared in an Item 19 include earnings information, expense data, revenue, and more. Franchisors are not required to include an Item 19 section in their FDD, but many do, as it helps to sell both high-end and low cost franchise opportunities.

What is the best franchise to own?

The best franchise to own is actually a MYTH. There is no one best franchise – rather, the “best” or most profitable franchises to own are the ones that capitalize on your strengths and skills. If you hate the day-to-day management of a certain franchise, you will not succeed as an owner.

What is the most profitable franchise to own?

The most profitable franchise to own depends on finding the right FIT. When you pinpoint a franchise that lets your strengths shine and plays into your skill set, that is where you will be most successful.

What is the cheapest franchise to buy?

There are many low cost franchise opportunities available in markets like Winston-Salem, Raleigh, Jacksonville, Chattanooga, and many other areas. We can discuss finding a territory and a brand with an affordable entry point into franchising that fits your ideal franchise business profile and everyday needs.

There are affordable businesses in areas like home renovation franchises, pet franchises, fitness franchises, gym franchises, wellness franchises, electrical franchises, plumbing franchises, and many other niches that may not have even crossed your mind!

How much does it cost to buy a franchise?

The cost of buying a franchise varies greatly – and remember, buying a franchise is not just about the initial Franchise Fee. Other startup costs include marketing, hiring, buildouts or renovations, and much more. Typically, the FDD will give you an idea of the costs you will need to account for in the first year or so of getting your franchise off the ground until you break even.

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Are you ready to kick off your next chapter as a franchise business owner?

Schedule a free meeting right here. I can’t wait to chat with you and discuss franchise opportunities, building your business, and starting a new chapter in your career. Working with me is always 100% free, 100% of the time. Talk to you soon!

I frequently speak to prospective clients that are really diving into the ETA (entrepreneurship through acquisition) evaluation, looking at existing businesses to buy. ETA is the “sexy” and popular route for investors and people looking to own a business without starting from scratch.  Many haven’t even thought about a franchise business – but owning a franchise is becoming more popular as a way to leave corporate or diversify your revenue streams.  Let’s dive in a bit more:

• Franchise Business: You will buy the rights to operate under an established brand.
  
• Entrepreneurship Through Acquisition (ETA): You acquire and grow an existing independent business.
  

Both models have their pros and cons, and your decision should depend on your goals, risk tolerance, personality, and resources.

Let’s break down both options to help you make a confident, informed choice about the best businesses to buy, whether that is a franchise business or the ETA route.

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What Is Franchising?

Franchising involves investing in a business model developed by an established brand. You pay fees to become a franchisee and get access to brand recognition, systems, support, and ongoing training.

Example: Opening a Jersey Mike’s or ServPro

There are many different types of franchise business opportunities out there, from pet franchises to gym franchises, wellness franchises, home service franchises, home remodel franchises, plumbing franchises, painting franchises, design franchises, and so much more.

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What Is ETA (Entrepreneurship Through Acquisition)?

ETA is the process of buying an existing, independent business with the goal of running and scaling it. These are usually small-to-medium-sized companies with stable cash flow, retiring owners, and untapped growth potential.

Example: Buying a local HVAC company or a regional marketing agency.

There are advantages of a franchise business as well as an ETA. Now, we will take a look at the key differences between these opportunities and how to select the best businesses to buy.

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Franchise vs. ETA: Key Differences

Factor	Franchise	ETA (Acquisition)
Risk Profile	Lower (proven model)	Higher (varies by deal)
Startup Time	Faster (weeks to months)	Slower (6–12 months for search and close)
Support	Extensive franchisor support	Usually none – you’re on your own
Brand Control	Limited (must follow rules)	Full control and flexibility
Entry Cost	Often lower ($50K–$500K+)	Varies ($200K–$5M+)
Operational Complexity	Simpler, more standardized	Often complex (employees, systems, legacy issues)
Exit Potential	Depends on brand and territory	Potential for higher valuation/multiple
Ownership Feeling	Shared with the franchisor	Full ownership and autonomy

This chart can guide you in determining whether you prefer a franchise business or ETA. But if you are still decided on the best businesses to buy, keep reading – or book a consultation to talk about it with me, 100% free. I’m happy to help you discover whether or not franchising is right for you.

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When a Franchise Business Might Be Right for You

• You want structured support and a proven roadmap.
  
• You’re a first-time entrepreneur looking for lower-risk entry.
  
• You prefer operational execution over building from scratch.
  
• You’re okay with paying royalties and following a system.
  

Best for: Operators who want to plug into a successful machine and scale within clear guardrails. In some cases, you may even be able to find a home based franchise business for ultimate flexibility.

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When ETA Might Be Right for You

• You want to own and control 100% of the business.
  
• You have experience in leadership, operations, or deal-making.
  
• You’re comfortable with uncertainty and willing to solve messy problems.
  
• You’re aiming for bigger upside and long-term equity value.
  

Best for: Strategic thinkers who want to grow and transform a business over time.

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Fit Tip: You Can Do Both

Some entrepreneurs start with a franchise to gain experience and cash flow, then move into ETA once they’re more confident. Others acquire an independent business and later franchise it themselves.

Choosing the best businesses to buy is all about understanding your individual risk tolerance, cash flow options, and long-term goals for your financial future and career. Beginning your investment journey with a franchise business can help you build wealth and confidence, opening the doors to other opportunities like ETA in the future. You may also try owning a franchise and discover that it does fit your goals and that you prefer this lower-risk, proven option and the actionable systems involved in a franchise business.

There is no right or wrong answer when it comes to the best businesses to buy, franchise vs ETA. It’s all about determining your personal preferences.

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Final Thoughts

There’s no “one-size-fits-all” answer. Whether you choose franchising or ETA, you’re already ahead by pursuing ownership over employment.

Ask yourself:

• Do I want freedom or structure?
  
• Am I more of a builder or an executor?
  
• How much risk am I willing to take?
  

Both franchising and ETA can lead to financial freedom and personal fulfillment—if you choose the path that aligns with who you are and what you want.

The biggest question I ask of anyone considering ETA or Franchise Ownership: What do you want your role to be?  Define your day-in-the-life. You still need to find FIT in any business. 

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Have questions about either path? Schedule a free meeting right here. I can’t wait to chat with you and discuss franchise opportunities, building your business, and starting a new chapter in your career. Working with me is always 100% free, 100% of the time. Talk to you soon!

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Owning a franchise can be an incredible step toward independence—but not all franchises are created equal. What works for one person might be a terrible fit for another. Believe me, I learned the hard way!  I will dive more into that in a second. But first…

Take a look at the top two questions that people ask me when they are looking at owning a franchise, which are NOT the most important questions.

1. “What’s the best franchise?”

2. “What franchise makes the most money?

What you need to ask is: “What is the best franchise FIT for ME?”

Fit Secret: If the franchise FITS you, then you will have the answer to the questions above.  That will be the best franchise, and you will increase your odds of business success.

Finding the best small business fit isn’t just about profit potential. It’s about aligning your small business ideas with:

• The role you want to play
  
• The time you’re willing to invest
  
• The customers you want to serve
  
• The team you want to lead
  

Before I go any further, let me share my own story.

I was handed the opportunity to own a franchise—literally handed to me. Who wouldn’t be excited? Owning my own business had always been in the back of my mind. I’d gone to graduate school, built a solid career, and when this opportunity came along, I thought, Yes! This is it. Let’s do it.

Fast forward: I took over an existing franchise (check out my blog on the pros and cons of buying existing vs. starting fresh). Right away, I realized I had some serious fires to put out. The customer base needed to be cut in half. The staff turned over. Marketing wasn’t even turned on. It was go time.

So, I rolled up my sleeves and got deep in the weeds. And what I quickly realized was this: the day-to-day reality of running this business looked nothing like I had imagined. It didn’t align with my strengths. In fact, it pushed me into areas I dreaded. I started losing sleep. I cringed when the phone rang. I felt frustrated, overwhelmed—and worst of all—I started to resent something I was supposed to be building with pride. That is not to say that owning a franchise was not for me… but maybe owning this franchise was not for me.

Those feelings made it hard to justify investing more time, energy, or money. I felt like I was failing. And as a competitive person, that was a tough pill to swallow. But quitting? That felt like giving up.

So, I kept going. I led the business for two years. I turned it around. We became profitable. And I’m proud to say I had built an exit strategy—and I took it.

The experience taught me a lot. I’m grateful for it. But here’s the biggest lesson: owning a franchise is hard enough. Trying to be someone you’re not just to make it work? That’s not success—that’s survival. And in my opinion, those aren’t the same thing.

Okay. Now, let’s talk about finding the FIT and finding the best businesses to buy for you:

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1. Define the Role You Want to Play

Before looking at brands or industries, ask yourself: What kind of owner do I want to be?

There are generally three types of franchise ownership:

• Owner-operator: You run the day-to-day operations. Ideal for hands-on people who enjoy leading from the front.
  
• Semi-absentee: You manage the manager. Great for those who want to keep a job or pursue other ventures.
  
• Executive owner: You hire a team to run it and focus on strategy/growth. Suited for experienced leaders or multi-unit investors.

Fit Tip: Be honest about how much control, time, and energy you want to commit. And, a business needs to be “run” – so some level of involvement will be required in any of the best small businesses.  

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2. Match the Business to Your Strengths

What are you naturally good at? Are you a people person, a problem-solver, or a sales machine? Picking a franchise that complements your skills will make everything easier – from hiring to customer service. This is how you find the best businesses to buy – “best” is a relative term dependent on your unique strengths and preferences

Fit Tip:  Franchising works best when you run in your lane. Do not force yourself into a role you’ll burn out in or dread.

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3. Be Realistic About Your Time Commitment for Owning a Franchise

How much time are you really willing to spend in the business?

• Do you want flexibility or to keep your day job?
• Do you want to replace your job and be your own boss full-time?
• Are you looking to plan to build a team and scale fast?
• What does “part-time” or “full-time” mean to you? 

Fit Tip: Everyone defines working hours and availability differently. Full-time doesn’t always mean 40 hours, especially if you came from Wall Street! Do you want to work weekends? Evenings? Many people underestimate the time it takes to launch and stabilize a business. Start small and grow owning a franchise into a bigger commitment.  

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4. Think About the Customers You Want to Serve

You will be interacting with customers – either directly or through your staff. So ask yourself:

• Do you want to work with families, professionals, or businesses?
• Do you prefer high-touch service (like tutoring) or transactional models (like QSR)?
• Are you drawn to community impact, or do you just want a recurring revenue machine?

Fit Tip:  Passion isn’t everything, but liking who you serve definitely helps on tough days. When you think about the best small businesses, your customer base makes a huge difference.

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5. Consider the Staff You’ll Need to Hire and Manage

The small business ideas you gravitate toward will determine the kind of team you’ll build.

• Food and retail: High turnover, entry-level roles, strong training systems required.
  
• Fitness or education: Staff with certifications or niche skills.
  
• Home services/B2B: Techs, sales reps, or customer service pros.
  

Ask yourself:

• Am I comfortable hiring and managing hourly employees?
  
• Do I want a lean team or a larger operation with more complexity?
  
• Would I rather manage specialists or generalists?
  

Fit Tip:  Your ability to lead and retain the right team can make or break your business, and it also helps determine the best businesses to buy for YOU.  

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6. Align Your Personal Goals With the Franchise Model

Finally, ask the big-picture questions about your small business ideas:

• Do I want time freedom, financial growth, or both?
  
• Is this franchise scalable? Sellable?
  
• Will I still be happy doing this in 5–10 years?
  

Fit Tip:  This is your business, so make sure it aligns with your definition of success, not someone else’s.

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Final Thoughts: The Best Franchise Is the One That Fits YOU

Owning a franchise is a powerful vehicle – but only if you choose small business ideas that align with your strengths, goals, and lifestyle. The right franchise won’t just make you money – it’ll make you better at what you love to do.

So before falling in love with a brand or business model, ask:

• What role do I want to play?
  
• Who do I want to serve?
  
• Who do I want to work with?
  
• What kind of life do I want to build?
  

Fit Tip:  Answer those honestly, and the best businesses to buy will be easier to uncover. You will know what questions to ask, what to look for… and with the help of The Franchise Fit Company, you can find your way into the best small businesses with the RIGHT franchise for YOU.

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Thinking about franchise ownership but unsure where to start? Let’s connect—I help aspiring owners find the best small businesses based on who they are, not just what’s trending.

Schedule a free meeting right here. I can’t wait to chat with you and discuss franchise opportunities, building your business, and starting a new chapter in your career. Working with me is always 100% free, 100% of the time. Talk to you soon!