This lesson is part of our free Franchise 101 course.
At Franchise Chatter, we’re really proud of our lists of top franchises. They bring together a wealth of information that can help you in your search for the right franchise. But even those lists have their limits, and those limits provide an important lesson on how to pick the best franchise.
What the Lists Do
Our lists assess the top franchises in the US, based on a number of factors. Considerations like revenue and return on investment help you to pick out the most lucrative franchises. Further information gives you an idea of what a franchise represents and whether it might be the right fit for you.
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These lists use raw financial figures to draw attention to franchises that are likely to be profitable, but that doesn’t mean that the only franchises worth considering are on these lists. While we do our best to cover all the top franchises, there are always going to be gaps, for a couple of reasons.
One reason why a franchise you’re interested in might not be on the list is that it hasn’t made any financial performance representations in its Franchise Disclosure Document. If it hasn’t put the financial data out into the world then we can’t assess it.
Another reason would be if it isn’t one of the top powerhouse franchises in its sector. Much as we’d like to, we can’t cover every single franchise on the site, so we focus on the top performers. But those top performers are always changing, and a rising star that’s missing from the list one year might shoot up in the next.
Casting a Wide Net
Because of this, it shouldn’t be a deal breaker if a franchise that interests you isn’t on this list. It’s still worth gathering information on it and comparing it to franchises that are on the list. Maybe you’ll find that it has more potential than the available figures show, or maybe you’ll realize that, appealing as the franchise is, it’s not worth the risk.
Which franchise to sign up with is a big decision. You should cast a wide net in considering your franchises and gathering information on them. Our list is a great starting point and a useful tool to compare other franchises against, but no source can give you the whole picture. Do your research, and you might find a franchise that surprises you.
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