8 Great Franchises

Want to be your own boss but wary of the risk involved?

Want to be your own boss but wary of the risk involved? Consider a franchise, where you can be an entrepreneur with the comfort of having a tried and tested business model and corporate support.

Finding the right franchise for you is key, so do some research first: Connect with existing franchisees to learn more about their experiences and to ask for their advice. Conduct market research to make sure there's customer demand. Comb the fine print of the contract with your franchisor, especially financial terms, so there are no surprises later. (For more, read Jump-Start Your Career With a Franchise.)

Uncle Sam has extended a helping hand, too: A Federal Trade Commission rule put into effect in 2012 requires franchisors to provide potential buyers with the company's basic information, any legal action taken against the company in the past ten years, the contact information of at least ten franchisees and confirmation of any earnings claims made.

Here are eight franchises with high franchisee satisfaction, low startup costs, and innovative solutions for both consumers and businesses. Please have a look:

Neema P. Roshania
Researcher-Reporter, The Kiplinger Letters