There are literally ton's of new concepts every year. Then there are those that have stood the test of time. McDonald's, Baskin Robbins and Subway are large concepts with thousands of stores. But when you are looking at a specific area for a successful concept you are out of luck when it comes to some of these household names.

Just surfing the net looking at what is available is mind numbing. Where to start, what to look for and how much are some of the first questions that come to mind. There are several things to consider when you are searching for the right concept. As you search, remember to keep an open mind.

The first question you need to ask yourself is what is the latest, hottest concept today. Take a look at the industry, how many players are in this industry? Is there one dominant player in the group? What is the potential of this industry? Is this concept still growing rapidly and is it a good time to get in? Once you have done your research and narrowed your choices down to a specific industry, look at each company.

Is the company your looking at stable? Store count is of utmost importance as stability is important in any business. You certainly don't want to get into a concept with less than 250 stores as they may not have the strength to last in the marketplace. What happens if you buy in and the concept goes out? This is something you need to be overly concerned with. How does this company rank in the category it is in. The number one in terms of size and growth is usually the best player. Anything less could signal trouble. Many franchises go out of business with the first three years.

Cost is usually a large factor in determining the concepts value. If some company is giving it away this usually signals trouble. Lack of revenue causes cost cutting and is usually an indicator that the company is having a problem. it's great when it's free, but you know the old saying,"nothing is for free". Be wary as a company in trouble is not a good bet for a franchise.

Growth potential is also a key factor. At what stage of growth is this company? You want to grab a concept between 1,000 - 2,500 stores strong. Why? Look at the giants, McDonald's has 26,000 stores globally as does Subway. Guess who made all the money? Not the guys who bought the 26,000th store, it was the ones that were in early and built an empire. Where is your company at and what is it's potential?

Training and support are two important factors. Does this company have a training program? How long is it? If any company tells you training is free and you receive 3-5 days, then this is a bad signal. Why? Can you learn to open and run a business in less than a week? The answer is "NO". A solid comprehensive training program is what you should be looking at. You should also expect to pay for it. And for your money you should get training on the concept as well as all of its systems, and it should also have a financial piece as well. McDonald's has it's own "Hamburger University". Good companies do it the right way with a comprehensive program between 1-2 weeks long.