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Advice for first time franchisee

Question
What general advice do you have for someone beginning the process of looking for a franchise? 
Answer
Here are two things very important things to focus on early in the process:

First, is there an appropriate "fit" between the type of business and type of person? Be sure that your business is one you will enjoy.

Second, when buying a franchise (new or existing) be sure that the rules laid down (the franchisor's offering circular and Franchise Agreement) are compatible with your own goals, financial situation and values. 
Brain Trust contributor: Principal, the Bibby Group; franchise consultant and entrepreneurship counselor
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