Like every other business, the franchise industry has changed due to the limitless access to knowledge on the internet. Before the World Wide Web, people usually researched a few concepts that they knew, liked and trusted. They would request information on four to five concepts, make a decision and open their business. The industry average has been that for every hundred leads franchisers received, they would award one to three franchises. But now it takes more leads to sell one franchise because the internet makes it easier for people to discover different franchise opportunities and request information.

Just type "franchise" in Google and you'll have more than 55 million websites to choose from. There are literally thousands of franchise opportunities available in more than 75 industries. So how can you possibly research them all and decide which franchise is best for you? Below are the top four resources for finding a franchise opportunity. Before you start your research, read my "Franchises Are a Lot Like Shoes . . ." blog to help identify the concepts that will fit you and your goals. After you have identified what you would enjoy doing, your investment level and potential ROI requirements, start searching.

1. Internet search. Your first step should be searching Google and Yahoo. For example, if you are interested in opening a café, search café franchise and you will find hundreds of cafes available. After reviewing their websites you will get an idea of the typical franchise fees, royalty payments and support available for your specific industry. This is how most people find tumble and tea café.
   
   
2. Franchise directories. directories are websites that showcase hundreds of different franchise opportunities. A few of the most popular directories are, franchisedirect.com and franchisesolutions.com. There are hundreds more directories available, so don't stop at those three. Franchise directories can give you a great selection of business oportunities in your industry, location and investment range. But don't forget; only businesses that pay to have their company listed will be on the directory. There might be a better franchise opportunity for you that is not listed on franchise directories.
   
   
3. Franchise brokers. Franchise brokers represent several franchise opportunities and are similar to real estate brokers because they receive compensation from the franchisor (seller), not you (buyer). But that is where the similarities end. Real estate brokers can sell any house and earn a commission, but franchise brokers only receive a commission from a franchise they have an agreement with (their commission is typically 40 percent to 50 percent of the franchise fee), so they will only recommend franchises they represent. Even the biggest franchise brokers only represent a small percentage of opportunities. If you choose to use a broker, I recomend that you continue to do your own research.
   
   
4. Experience. Even with the internet, sometimes your personal experience or word of mouth can give you the most valuable information about a potential business opportunity. Visit businesses you might like to own and interview the owner.

With all the choices in the marketplace come a lot of competition. Some franchisers are offering discounted franchise fees, zero royalty periods and buy-back incentives. Take these incentives into consideration, but don't buy a franchise because of them. You will be in business long after the discounts end.

After all of your research is done, make sure you choose a business you believe in and that has the potential to make the ROI you are looking for.