Imagine you are driving across the country for a summer vacation. It's lunchtime, and you have two hungry children in the backseat. You spot a sign on the highway and it says that both McDonalds and Billy Bob's Burgers can be found at the next exit. Which one do you choose? You would select Billy Bob's, if you knew that its burgers tasted better and cost less than McDonalds. However, since you have never heard of Billy Bob's, you select McDonalds because of its reliable service, quality and pricing.

Due to the risk and amount of work involved in starting a new business, many entrepreneurs choose instead to purchase a franchise . Franchise-owned businesses enjoy a higher success rate than many independently owned businesses, since they provide established products and services accompanied by technical and managerial support.

However, there are trade-offs in selecting a franchise. You must follow standard the operating procedures established by the franchiser, and you will have little input in the marketing and product strategy.

To learn more about buying a franchise, try some of the following resources.

Self Test #1 - Determine if you are suited to franchise ownership - The FranInfo site has plenty of informative articles about franchising, including: Why Buy a Franchise? History of Franchising; How to Select the Right Franchise; a couple of Self Tests; and Franchises Most Frequently Inquired About. If you are considering a franchise, then you should start with the Self Test #1 - Determine if you are suited to franchise ownership.

Franchises most frequently inquired about - Another part of the FranInfo Web site that is worth a visit is Franchises Most Frequently Inquired About. Here you will find "names and telephone numbers for a number of franchises which visitors to this website frequently request information on." Although this list includes such household names as McDonalds and Dunkin Donuts, it goes on to point out that many of these large franchises are sold out in the U.S.

Franchise UPDATE online library - Franchise UPDATE Publications covers the franchise trade, investment activity, and management through a series of newsletters, trade magazines, and directories. The Franchise UPDATE Library includes a series of articles and checklists for the first time franchise buyer. One checklist that you should review is the "Checklist to Evaluate a Franchisor." This page will familiarize you with many of the important questions you should ask prior to signing an agreements with a franchisor.

Business opportunity 500 - The Entrepreneur Magazine Web site contains multiple franchise databases. For instance you can examine a listing of New Franchises, the Fastest Growing Franchises or Low Investment Franchises. In addition to these traditional franchise listings, you may also want to examine the Business Opportunity 500 contained on this site.

State offices administering franchise disclosure laws - The Federal Trade Commission (FTC), responsible for the consumer protection laws, oversees the marketplace "to eliminate acts or practices that are unfair or deceptive." On its Web site, the FTC has identified the fifteen states that have franchise investment laws. The franchise investment laws, designed to protect the potential purchaser, require the franchisor to give you a pre-sale disclosure, or "offering circular." These laws give you important legal rights, including the right to bring private lawsuits against the franchisor for violating the state disclosure requirements.

American Bar Association's forum on franchising - Within the American Bar Association, there is a forum with nearly 2,500 members that represents the field of franchise law. "The mission of the Forum is to be a center of information on laws affecting franchising, studying and investigating developments in the field, educating and providing a forum to promote improvements in the law as it affects franchising."