David Beattie Brand and marketing director of the energie Group:
"It's very difficult to be an expert in everything. One of the things you're buying when you're buying a franchise is somebody else's mistakes; things have been tried and tested in the past, maybe some things didn't work: you've got a model that demonstrated to work.
"You've got the support, whether that be marketing campaigns that will be arriving at your club that you can edit, all the training: assistance you can rely on that's been tried and tested that you can fine tune for you local market, but you're not reinventing the wheel."
Maria Kempinska, founder of Joungleurs:
"If you don't have knowledge, then you need to find somebody that you trust with that knowledge, they food and beverage business sis hard work, you've got to understand it, but then again if you can bring somebody in that you can trust to work with, that's great - but you've got to have the enthusiasm.
Look for something that you're comfortable with selling and something you've got a bit of passion about
Kevin Lomas, retail director of VIP
"You must love what you do; if you love what you do, your world turns around and everything you do is for the betterment of your enterprise. If you don't like it, at the first hurdle you'll get fed up and you'll give up.
"But, definitely, if you don't understand the industry, get that knowledge or work with somebody who has that knowledge."
Kevin Lomas, retail director of VIP:
"Look for something that you're comfortable with selling and something you've got a bit of passion about. There's no point taking something on that you just think you'll make a few quid at, you should really believe in what you're doing."
Helen O'Neill, director of Purr and Pooch Prints:
"Is it something that's really new, or do you have a great deal of experience in this area? Obviously, your business will change in the future, do you know that they'll be able to support you in the future?
Obviously, with jewellery trends will change, the collection will change, can they change with you? You don't want to be stuck with something that's dated in a couple of years time."
Andy Pearce, director of ABC Photography:
"Just because you're looking at a franchise and it might be a young franchise, you may be the first franchisee - not necessarily a bad thing if you do you research, and it's a legit company, you're happy with all the arrangements and support. Being the first franchisee is usually a benefit.
"I know my first franchisee has got half of the North East because I wanted to get them on board, and I wanted to support them, make that work for them."