Joining a franchise is an excellent way to get into business, but before you get to open the doors to your store there are steps to take to ensure your best chance of success.

Think about it: is a franchise right for you? Not everyone is cut out to run a business on his or her own – or at all – so that’s an important question to ask yourself.

Many prospective franchisees have a vague idea of what running a business involves. Often, they’re shocked to find out just how hard they have to work, especially in the first initial couple of years.

Joining a franchise business has implications on your family, too. They need to know how it will affect them and be willing to give you their full support. Ask yourself this: Can I afford a franchise?

Many people assume that a bank will lend money against the franchise. But this is unlikely unless the franchise is accredited, meaning that the franchise has a special arrangement with the bank. But even then, it isn’t an easy surf to shore – you need to be completely equipped.

It is recommended by many franchising thought leaders that you choose a franchise business that suits your skills and expertise: this way you can hit the ground running and will enjoy what you do day in and day out.

But what about the system of the franchise? Other franchisees are a great source of information when making sense of the franchise business system entails, as they have been working under its rules and regulations for quite some time. Learn about their requirements, their routines and their profit margins. This will help hone in on whether the system you’re considering is really for you.

This is where thorough due diligence is key. Franchisors frequently ask for a deposit before they provide information, and under franchise law this is fully refundable but you should still ask a lawyer to look over the document before you sign it.

Once you take time to think about your passions and align them with your professional goals you’re on the right track to joining a franchise that suits you best. Then, once your finances are in check and you have liaised with your lawyers, you can look forward to embarking on your successful franchising future.