Franchise opportunities are like paying someone for his or her business secrets and the use of their name brand. As a franchisee, you can hit the ground running even without previous entrepreneurial experience. You’ll need to operate under some of the new franchise’s basic rules and business model, but in turn you’ll reap the rewards of a reliable return-on-investment.

You’ve always loved Subway, so when a franchise opportunity became available in your area, you jumped on it. To qualify, you needed $250,000 in the bank and another million dollars to cover the building’s lease, equipment and start-up costs. You already had 40% of that cash lying around and the other 60% was secured through a small business loan, which was pretty easy to get. The franchising fee was around $45,000, which went directly to Subway. This is the only real upfront fee.

Then you’ll spend the next nine months learning how Subway operates so you can adhere to certain quality, service and menu standards. You’ll need to stick with their recommended location, dress code and training manuals, but you’ll be able to capitalize on these proven strategies. A Subway field consultant will check in on you periodically to ensure your success and you’ll pay 4% of your sales to the corporate entity. Technically, you’re not your own boss and you don’t really own the business, but you’ll own the assets you’ve purchased.

More On: How Franchise Opportunities Work

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