So many of us want to get into our own business but we wonder how we'll make any money.

A franchise supposedly answers the question "If I do this business, will I make money at it?"

Of course, it raises the odds but doesn't assure you will make money.

Starting a franchise can be very smart on your part if…

1. You have enough money to pay the franchising fee, startup costs and whatever time realistically you spend burning cash and making no money. Because there will always be a time when you burn cash every month but don't make ends meet.

2. You have checked out the new business and you feel there is enough data that says there is a market for the product or service. People will pay for this. The best market research is the existence of competitors who are doing well. No competiors? Take some aspirin, lie down and let the feeling pass. You don't want to get into any business with little or no competition.

3. You are a "Follow the formula" person. You like to get instructions and follow them. You bake a pie by following the recipe carefully — you are not one to add a dash of this and a bit of that.

4. The skills needed for this particular franchise are the things you enjoy doing. If it's a restaurant, you enjoy managing 18 year old boys and girls who call in sick all the time or just don't show up and don't call in. If it's something like a financial franchise in equipment leasing, and it calls for selling, then you enjoy the type of selling that is required.

That is on my list for people looking to be starting a franchise. If you honestly can say "that's me" to all four points, chances are good that you will succeed. And for more about an opportunity that may interest you, please join my high powered list by entering your email and name and I'll give you instant access to my exclusive 9 page report on a little known but potentially very lucrative home based franchise that may be available, and emails with stuff I can't blog about it's too explosive to put here. Thanks!