As a franchisee, you are buying from someone a right to carry on a business using a system that they own or are entitled to license. As a franchisee, you will need to undertake proper and detailed investigations of the business that you propose to buy to ensure that you get what you pay for.
Franchises carry many of the business risks that exist to any business person. By paying a fee you buy the right to run the business using the franchisor's model. However, this of itself does not guarantee success. The franchisor is obliged to provide a potential franchisee with a disclosure document and a draft franchise agreement at least 14 days before the prospective franchisee enters into the franchise agreement. Things to consider when buying a franchise include:
This list is not exhaustive and you must consult a properly qualified legal professional before signing a franchise agreement.