According to the International Franchise Association Educational Foundation, more than 750,000 franchise establishments were in operation in 2014. Although the growth rate of new franchises lags pre-recession levels, buying into an established business model continues to attract small business hopefuls. The rewards of working with a respected franchisor can range from selling a well-known product or service in a proven niche to reaping a respectable return on investment. But some future franchisees overlook the downsides, fail to do enough research, and discover too late that the move was not for them. Before venturing into this business opportunity, read on to understand the questions and items to keep in mind.