If you are planning to operate your very own business in order to start earning a living, then purchasing a franchise would be a great idea. This way, while you would be operating your own business, you would be provided with all necessary support from the franchising company together with a business plan and marketing strategies that have been successfully applied by the parent company to expand its business. Also, you will get access to an already existing customer base. The chances of your business succeeding if you work with a franchise program are much higher as compared to starting your business right from the scratch. While the start up costs might be lower and the returns higher, however, you will be expected to pay franchise fees, royalties and be obligated to a contract and you will have to comply with all the terms and conditions laid down by the company in its guide. When planning to purchase a franchise, first of all you need to choose an industry with which you would be having a passionate interest for, and you would be in a better position to apply your skills and abilities. For example, if you have an interest in home cleaning, then you may go for a maid service industry; if you have an interest in automotives, then you should apply for an automobile franchising program. In a franchise program, as mentioned before, you will be regulated by strict rules, even though you will be the head of your business. When applying for a franchise program, you need to consider how much cash you will be expected to invest as start up costs. A few franchises may require you to pay a down payment while others may require you to pay the lump sum amount. When choosing a franchise, try selecting one whose service and products have a strong demand in the locality where you are planning to operate your business. Also, try opting for a company which is listed amongst the Top 500 franchising companies and you can narrow down your list by first concentrating on the Top 10, then the Top 25 and so on. You also conduct some background research regarding the franchising company’s operations and since when it has been operating in the market. There are several franchising companies that only ran for a few years before closing down all their operations. Therefore you need to be very careful when purchasing a franchise regarding the going concern prospects of the company itself. Go through the business plan being offered by the company, and contact your local chamber of commerce for information. They will be in a better position to guide you.