Franchising is not for everyone, according to the International Franchise Association (IFA)

Among the many questions prospective franchisees should consider are:

• whether they’re willing to work in a structured business model;
• adapt to someone else’s ideas; and
• forego a certain amount of independence.

“Franchise systems thrive on consistency and the compliance of all of their owner-operators to follow one set of guidelines,” according to the IFA. “Potential investors hesitant to commit to these basic realities might wish to look at other ventures.”

When selecting a franchise, the association said investors should also:

• determine the demand for the particular product or service the company sells;
• get opinions of both current and recent franchisees;
• study the company’s legal history; and
• review financing options.

The best source of information is the company’s disclosure document, often referred to as the Uniform Franchise Offering Circular or UFOC. Professional help, such as an attorney who is knowledgeable about franchising, is also recommended by IFA.

Representing the franchising community since 1960, IFA offers many resources through its Web site (www.franchise.org), including the free, online “Franchising Basics” course that provides an introduction to franchising and the laws and regulations that apply. Also available on the site is the Federal Trade Commission’s “Consumer Guide to Buying a Franchise.”

IFA trade shows also provide opportunities to look at hundreds of franchises and talk with company representatives. Upcoming shows included the West Coast Franchise Expo Oct. 19-21 in Los Angeles, Franchise Expo South Jan. 11-13, 2008 in Miami and the International Franchise Expo April 11-13, 2008 in Washington, D.C.

The IFA said it represents more than 10,000 franchisees and 1,200 franchise companies.