In business franchising the franchiser grants an individual or corporate entity the rights to use its business model, sell its products, and use its trademarks for a percentage of gross monthly sales and a royalty fee. Various tangibles and intangibles such as national or international advertising, training, and other support services are commonly made available by the franchiser to the franchisee. According to Wikipedia, Franchising is a business model used in more than 70 industries and that generates more than $1 trillion in U.S. sales annually.

Franchise opportunities are so numerous that it can be difficult to decide which franchise, and even which industry, to choose. Entrepreneurs can choose from among franchise opportunities as diverse as dog grooming stations and preschools. To help make the decision easier, there are five factors to consider when looking at the multitude of opportunities that exist.

The amount of time that you have to devote to your chosen franchise often the first consideration. While most business owners do wish to run a full-time business, there are many people who buy part-time franchises that can be run on the weekends. These often include party rental companies and other special-occasion businesses. Other options are carts or other mobile businesses that you can take out during the hours that you choose.

The amount of money needed for the various franchise opportunities is obviously an enormous factor. While there may be some financing available, consider how much debt you want to be in when you start your new business. There are franchises available in virtually every price range, from very little to virtual fortunes. Choose the one that realistically fits your budget and comfort level.

The interest level that you have in each specific industry can also be a major driving force in your decision. If you dislike animals, opening a pet store will likely not be the choice that keeps you passionate about your business. Make a list of the interested you have and then look at what is available within those industries. People who love to build models may run a hobby store with a lot more enthusiasm and enjoyment than they would a business about which they have no interest.

Brand recognition is something that takes time in the current marketplace. Every business wants to make a name for itself, and getting heard in all of that noise can be difficult. However, a business that comes with significant brand name recognition already has some of your work done for you. It can also mean establishing your business faster because of the market that already knows what you do and why they want to do business with you.