As a way into business, franchising works. You are buying a tried and tested business concept, and, other things being equal, you should be onto a winner. But it doesn't necessarily work that way. Franchising, like all business opportunities, is an unregulated business. There's little comeback if you pay hard-earned cash for an ill-thought-out, useless, or even deliberately fraudulent proposition. So here's now to choose a franchise that works.

Do your homework. Before you hand over any money, talk to other franchisees within the group and ask about their experiences. Don't accept franchises offered to you by the franchisor - instead ask for a list and pick your own.

If this is a new franchise, be especially careful - has it been adequately piloted and over a sufficient period?

Find out what the initial fee covers, what the continuing management fees are, how much working capital you need, whether the profit and loss projections are realistic, and what assistance you can get to prepare a business plan.

What training will be offered? Remember that in this context your chance of success is greater if you already have experience of the industry in which you will operate.

How much money is spent on advertising and promoting the business? One of the major advantages of being a franchisee is in the advertising support and back-up the franchisor gives you. It is he who puts your business in the public eye.

Don't sign anything without taking legal advice - the British Franchise Association has a list of solicitors who specialise in this area, and who are aware of tell-tale warning signs on contracts. They can tell you when to steer clear.

Your solicitor will check that the contract allows you an exclusive territory that the franchisor cannot unilaterally sell to someone else, so reducing your potential for profit.

Be prepared for the franchisor to quiz you to make sure that you have what the firm is looking for. Remember that franchising is something where both sides gain, and a successful franchise opportunity often has many more applicants than it has opportunities. A firm that takes you on without grilling you may be more interested in taking an up-front fee than going into what should be a long-term partnership.

Talk to your bank - the High Street banks like franchising as a business proposition because they know that it works. But if they are reluctant to lend on a proposition it may be that they know something you don't. But the converse doesn't necessarily apply; don't take their willingness to lend as an endorsement.

Realise that franchising is like any other business - making it work will demand your effort and full-time commitment eight days a week. How does your family feel about this? Remember that the franchisor will be paid a fee based on turnover not profit, and so you are working first to pay this. Do not resent this - it is what you pay for a tried and tested business concept.

Remember too that franchising is not necessarily for innovators - to make it work you have to follow the rulebook to the letter - that's what you have paid for. You should be prepared for the franchisor to impose detailed obligations on you to ensure the business is operated in accordance with its proven business system.