Franchises though have fared better than independent small businesses though, mainly because of the support that head office is able to provide its franchisees and the fact that franchises operate on a replicable model, meaning many of the challenges and kinks have been worked out before you even open for business. On the plus side, while it’s more challenging to secure finance, lowered interest rates make it cheaper than ever to pay back a loan.
Having said that, very careful research into both the brand you’re interested in and the sector in which it operates is essential. Don’t invest in beehives when there are no bees. Also important is to establish whether the brand’s success is a result of fads. They don’t last.