Franchising has become increasingly popular since the 1980s. Part of the reason is because a good franchise provides a "turnkey" package of how to run all aspects of the business. You get forms to use for personnel, administration, marketing and other areas of the business. Some franchises also offer hotlines and even limited on-site assistance in getting started or solving tough problems.

Another reason to consider franchising is the lower cost of products possible through bulk purchasing with other franchise owners through the franchisor. Most franchisors also collect fees for national advertising efforts. Quicker recognition and advertising support is a very prominent reason to consider franchising.

Finally, there are usually opportunities to meet with other franchisees to compare experiences and learn how others are handling problems. In some cases, other franchisees or the franchisor may be willing to run your business for a short while if you are disabled. A few franchisors also offer asssistance with selling your business (or may even buy it directly from you).

These main reasons for becoming a franchisee contribute to a startling statistic. While over 93% of small businesses fail sometime during the first 5 years (about 50% in the first 12 to 18 months), the failure rate for franchisors is only 10%. Of course, you should check each franchise offer carefully, since not all franchisees offer the full level of support you may need.