What are some common myths in franchising? 

Starting a business requires a lot of time and effort. That's why many people choose to invest in a franchise due to the added support and training in place. But before you get started, we'd like to debunk some myths that every potential franchise owner should be aware of before starting on his or her journey.

1. Franchising is all about restaurants. While many of the best-known are restaurants, there are actually approximately 3,500 franchise concepts in 75 industries. From home care to automotive, several non-food franchises have experienced growth in 2010 and this is expected to continue in 2011. When researching the best concept for you, make sure to consider all of your options.
2. The more you spend, the more you'll make. There is no correlation between how much money a franchise costs and how much money it makes. Most importantly, you should base your decision on whether or not the franchise fits with your lifestyle and finances you have available.
3. You must have experience in the field. Experience isn't necessary; in fact, many franchisors prefer new franchisees to have backgrounds outside the industry. For instance, those with experience in sales and marketing many times have the skill set to excel in just about any sector. Plus, the franchisor will supply you with training and support needed to get your business off the ground.
4. All franchises are created equal. Some franchisors will take on every franchisee that can sign a check, which makes for a weaker organization overall. The franchises that vet prospective franchisees get the best candidates and have the strongest system. MatchPoint consultants help wean off the weak, so you are presented with the best options available. 
5. A franchise will run itself. Just because you have the support of a larger organization and ongoing training programs, owning and operating a franchise is still a huge responsibility and takes a lot of work - especially at the beginning - to make it successful. Just keep in mind that once you've settled on a concept, the work isn't over. Nonetheless, with the right amount of work, success should ultimately follow.

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