How do you evaluate a franchise opportunity?

Buying your own franchise can be very rewarding. Yet, we’ve learned over the years that it can often involve a somewhat uncomfortable mix of emotions (you want to feel excited about your decision and be comfortable that your choice fits with your values) and rational thinking (you HAVE to be able to make money at whatever you do and properly support your loved ones.) Those of us in the industry even refer, tongue-in-cheek, to the process of evaluating franchises as “finding your silver bullet.”