When the first idea enters your mind to start your own business it begins a quest for information that leads to many questions. These questions and answers lead to many more questions that often end the quest before it ever has a chance to get off the ground. "How much money will it take?"; "Do I need a partner?" and "Should I form a sole Proprietorship, Partnership, Limited Liability Corporation (LLC), or S-Corporation?" are just a few of the many questions that need answering.

The fact that there are many different answers to the questions leads you to understand that this is not a "one size fits all" proposition. One of the answers may be investing in a franchise. When making a decision to invest in a franchise concept "the shoe needs to fit!"

You should first decide on an industry with opportunity and one in which you have a passion for. You need to be 100% committed to the industry and concept you choose, being 90% sold just won't get the job done. At this point you need to research the franchise opportunities that exist in that industry by searching outlets like the internet, franchise magazines, franchise opportunity shows and expos and more.

Request a sales circular and all initial information about the company that will help you make your decision. As you go through the material you should ask yourself for reasons why you should not invest in the concept. Write down any questions that arise so that you can ask the company representative to answer them fully and completely to your satisfaction. The reason to ask yourself why not to invest is that you want answers that will tell you that investing would be a wise decision. You want to be convinced into reasons why you are going to invest in a particular concept.

An important item to consider is exactly what are you going to get for your investment. You should be getting a plan that will save you a lot of time and money in mistakes you may make in starting your own business. Logo design, company paperwork, approved vendor lists, ongoing support, and very importantly the training program that will be the foundation of the new venture are few of the areas where there are potentially significant savings. An effective training program, accompanied by an on-going support program, should cut your learning curve greatly. If the program is effective it should give a potential investor a six month to one year advantage over an investor who attempts a start up on their own.

Obviously the learning curve will vary depending on each investor's previous background, education, and other factors. In evaluating this situation one should assess how much money could be saved by using a program that is already in place. Print expenses for marketing materials and company specific paperwork is just one example that will add costs up quickly. Another situation to evaluate is how much money could be saved by not making mistakes and "learning while on the job." You are looking for a concept that will give you the security and potential savings that give you the foundation you are looking to build upon.

Franchise fees and royalty payments will vary from concept to concept. Logo recognition and other factors will be considered in choosing the program that best fits for you. There are companies that offer low initial fees that make it easier for some investors to make a decision. This is not a good reason to decide to part with your money. No matter what the initial fee is you want to research the entire program to insure you will have all the tools needed to be successful. A low franchise fee is not an excuse to invest in an incomplete program.

The same can be stated for a higher franchise fee. A larger initial investment does not necessarily mean it will be exactly want you are looking for in an investment. If you find a concept that you feel is the right fit for you then perhaps it is time to evaluate how you can make it work. Contacting other potential investors with capital, seeking a loan from a lending institute, reaching out to the Small Business Administration (SBA) are just a few ideas to consider. Even if you do not invest in a franchise concept these are options for anyone starting a new business or expanding an existing business.

Look for a "blue chip" in the concept. What is it that makes the franchise stand out from others? What does the franchise offer that other similar concepts do not offer? What does an investment in the concept give you that you can not get with your own start up? Is the concept, the program, or the product offered considered high in the marketplace? KFC has the "11 Herbs and Spices" and you are looking for what will be your "blue chip" if you invest in a particular franchise.

There are many items to consider when considering a business venture. Whether to franchise or not to franchise is only one particular item. If you decide that franchising is the "right fit" for you this only leads to many more questions that need answering and research that needs to be completed before making a final decision. If you have ever worn a shoe that does not fit it can be nagging and painful. Even a shoe that is just half a size too small can be uncomfortable. Make sure the shoe fits and that you are comfortable in your ultimate decision. At the end of this research, when all the information has been accumulated and evaluated carefully, "The shoe needs to fit!"