Though purchasing a tried and tested system, with brand values and corporate backup offers you a much higher chance of success, as with any business risks still exist, and careful consideration should still be taken.

Franchisors are very clear in what kind of people they are looking for, and therefore you should also be clear in your mind which opportunities match your needs and skills.

It's a question of matching the skills and type of experience required to run a franchise with what you like doing, and are good at. Not surprisingly, what we like doing tends to be what were best at.

To help identify this you should look at your previous achievements and experiences, for example, are you good at managing people, good at selling, or good at working with your hands? This will help determine the franchise type most suited to you.

Before you look at any specific industry, you should also consider the way you want to develop your business, for example, would you want to continue running a single unit franchise or would you like to eventually develop an area or region.

Once you have determined which franchise opportunities may suit you, you need to contact the franchisors for further information.

In most cases you can tell right away whether you are really interested in knowing more about a given franchise. In order to pinpoint two or three real possibilities ask yourself some basic questions.

For example, would I enjoy making a career out of running this franchise, do I have the skills - or could I learn them - to operate it, do I have the resources to invest in and operate it, does it seem as if the returns of my investment might be in line with my financial needs and objectives, and does the franchisor appear reputable, forthcoming, and the type of company with which I would enjoy a partnership?

Once you've identified one or two franchises that interest you, this is when the real research starts.