I agree with Small Business Consultant although I would add

It needs to be credible. Does your company have experienced management? A track-record over time? Is the concept proven? Have you achieved good local press or public acclaim?

It needs to be teachable. Are the systems in place? Are operating procedures documented? Could someone learn to operate your business in three months or less?

It needs to provide an adequate return. I don't mean just profitability. If a business can't generate a 15 to 20 percent return on investment after deducting a royalty (typically between 4 and 8 percent), it's going to have difficulty keeping franchisees happy.