Which Franchise Should I Buy? The Two Questions You Need to Answer First
When people come to me for help buying a franchise, they almost always start by asking the same question:
“Which franchise should I buy?”
That question makes sense on the surface. And eventually, it’s part of the process. But starting there skips over two far more important questions. If you don’t answer those honestly first, your entire journey into business ownership becomes guesswork.
So let’s rewind and talk about where the franchise buying process should actually begin.
The First Question: Should You Own a Business at All?
This is the question most people don’t slow down enough to ask.
Many people who say they want to own a business aren’t truly seeking ownership — they’re trying to escape something. A frustrating boss, limited income growth, or a role they’ve outgrown.
Those feelings are valid. But business ownership isn’t always the solution. Sometimes a better job, a career pivot, or a new environment is the right answer.
True ownership means trading certainty for autonomy. If, after honest reflection, you realize you’re wired for that trade — more responsibility in exchange for more control — then you’re ready to move to the next question.
The Second Question: Should You Buy a Franchise?
There are three primary ways to become a business owner:
Start a business from scratch
Buy an existing business
Buy a franchise
None of these paths are universally better than the others. What matters is fit.
If you love innovation and creating something entirely new, starting from scratch may be your lane. If you’re drawn to turnarounds or undervalued assets, acquisition could be a strong fit.
But if your goal is to operate a proven business model — one where product-market fit has already been established — franchising often makes the most sense.
Why Franchising Works for the Right Buyer
Franchising is not an easy button — but it is a focused-effort model.
When you buy a franchise, you’re buying a system. Someone else has already tested the model, refined operations, built supply chains, and documented best practices.
This allows you to focus on execution: building a team, generating revenue, and scaling efficiently.
With the right franchise, it’s possible to accomplish in three to five years what might otherwise take ten to twenty years building from scratch.
Franchising Is About Mindset, Not Skills
Many people assume franchising is about having the right technical skills. In reality, it’s far more about mindset.
If you enjoy experimenting, pivoting, and inventing, franchising may feel restrictive. If you prefer executing within a proven framework and optimizing performance, franchising can be an excellent fit.
It’s the difference between inventing new recipes and running a well-organized kitchen that already knows what’s on the menu.
How Much Does It Cost to Buy a Franchise?
While every franchise is different, most serious opportunities fall within these ranges:
Non–brick-and-mortar franchises: approximately $150,000–$500,000
Brick-and-mortar franchises: typically $200,000–$800,000+
Most buyers use a mix of cash, SBA loans, and retirement funds (via a ROBS structure) to fund their investment.
Final Thoughts
Buying your first business — franchise or otherwise — is a major decision that deserves thoughtful consideration.
That’s why I begin every franchise journey with big-picture conversations rather than pitching brands.
Once you’re clear on whether business ownership — and franchising specifically — is right for you, the rest of the process tends to move much faster and with far more confidence.
