Six questions to ask yourself before you buy

By Katherine Willows

(NC)-With 20 cars ahead of you at the coffee shop drive-thru, every morning of the week, it's no wonder you dream of throwing in the towel and buying your own coffee shop franchise.

In actual fact, buying a franchise is one of the fastest growing trends in small business in Canada. Here's a checklist to see if franchising is right for you:

. Before signing any documents or contracts, check with your lawyer and accountant. The last thing you want is to start off on the wrong foot.

. Do you have the capital required for investment?

. Do you have the necessary management skills, education, and work experience required?

. What is the franchisor's background and how long has it been offering franchises?

. If the franchise is new, what is its record of accomplishment?

. What is the sales potential for the territory?

Buying a franchise could be one of the smartest things you do as a Canadian entrepreneur, if you do your homework.

For a whole range of great ideas on how to set up a successful small business, including franchising, visit Canada Business.ca or call the Canada Business Info Line at1-888-576-4444.

- News Canada