If you’re thinking of buying franchise, be aware you’re purchasing a business not a job. The franchise may cost anything from tens to hundreds of thousands, so check that your legal and financial advisers are up to the job.

Here are the three Golden Rules for new franchisees :

1. With many franchise contracts weighing in at up to 50 pages in length, you’ll need to take advice. Dan Archer of the British Franchise Association (BFA) says, “With a document as comprehensive as this, it’s vital to know what you’re committing to. Franchise lawyers typically charge a fixed fee of £350-£750 for assessing and explaining the franchise agreement.”

It is a wise precaution to bypass your family solicitor and choose one affiliated with the BFA. There’s a list at www.thebfa.org.

2. Check your own financial position with a specialist accountant before making a move. Rob Mott from estate agency franchise Enfields says, “Ensure you have enough money to buy the franchise and also to maintain your lifestyle through the first year. When you’re running a new business, you don’t want pressure on your home finances. Once you have potential performance figures for your franchise from us and worked out your business plan, take it on to an accountant to challenge them and give the whole plan a ’sanity check’.”

3. As well as getting advice from professionals, talk to existing franchisees who know the business from the sharp end.

If you follow these three golden rules, you should at least have a good chance of surviving, even if it’s you first venture into your own business.