We bought a franchise about 5 years ago that focused on tutoring. When we bought it we did a lot of due diligence and we knew that were were one of only a handful of franchisees but the price of entry was low and we thought we could improve on the concept. We were attracted to it because it was new - but in retrospect I wonder if we should of bought a more established franchise and paid more. Anybody else have experience in this area because we are looking to purchase another franchise and are exploring some ideas.

Do you still own it? Have you been successful with it? Just was curuios.

No I do not think the franchise is still around at least I cant find it online. It just did not generate enough revenue for what we put into it. It was a waste of $15,000 but it did teach us about the need for more due diligence before we purchase another franchise.

Unfortunately some of the best lessons are learned through failure look at Abraham Lincoln:

• He failed as a business man - as a storekeeper.
• He failed as a farmer - he despised this work.
• He failed in his first attempt to obtain political office.
• When elected to the legislature he failed when he sought the office of speaker.
• He failed in his first attempt to go to Congress.
• He failed when he sought the appointment to the United States Land Office.
• He failed when he ran for the United States Senate.
• He failed when friends sought for him the nomination for the Vice-Presidency in 1856.

I hope this has provided you some inspiration - Good luck on your new venture

Interesting quote on Abraham Lincoln I never saw that before. I think for most people the best bet is to go with an established Franchise where you can test their model and look at their track record for success. Otherwise you are nearly running the same risk as starting the business yourself and why pay extra for it.

I agree with Tools75 I would look to getting a well established franchise with a proven record and happy franchisees. The only thing you want to be careful with these types of franchises are the size of your territory and making sure that it will support your business. If it is a great franchise you will have similar franchises by you so be prepared