When signing up to a franchise deal, there are a few details you should get clear first:

1. Make sure your contract mentions the period of the agreement. This is often five years, but it can vary. It should also specify a renewal option. Check any small print in the renewal terms in case they involve much greater expense or other prohibitions.

2. Nail down the exact location you’re getting and your rights to exclusivity within it.

3. All fees and costs, plus calculation formulas, should be presented to you. You also need to know if you can sell the business on for a profit.

4. A clause specifying that you can leave the business to next of kin in the event of your decease is also important, if a little gruesome to the squeamish.

5. Costs of training of you and your staff should be met from the fees you pay to the franchisor. Hidden costs for training can be large and sometimes disabling.

6. If you think you know enough to set up on your own after a few years, talk to the franchisor. Enlightened businesses will provide opportunities for you to expand with greater input to the business as a whole.

Above all, make sure you are aware of all the subtleties of the business before signing away your cash.

The type of premises any business will need depends on the kind of business it is. For example, if you run an internet business, your shopfront will be your websites. You can run it from a spare corner in your bedroom, if that’s what you prefer.

Similarly, if it’s mail order most of the physical work may be handled by a fulfilment house that takes orders, stores your goods, sends them out and does all the paperwork. Mind you, you’ll pay between 40 and 60pc of your turnover for that sort of service.

Adrian Gavigan went the hard way when he decided to do it all himself for his mail order firm supplying Irish dance shoes. He has now moved into an 1,800 sq ft warehouse in Wembley, London and is looking for even more space. It seems there’s a strong demand for Irish dance shoes.

So, what do you look for in new business premises?

* You’ll should determine exactly what you need beforehand: shopfront? facilities to hand, utilities available, access to the premises, parking, and planning permissions.

* You’ll need a budget: legal costs, alterations and decoration, rent and service charges, business rates/taxes, maintenance and insurance.

* Many online commercial property sites and trade papers will direct you to a choice of properties.

* When you’ve found somewhere suitable, find a surveyor to inspect the site, and a solicitor to close the deal.

* Contact the local town hall about rateable values and taxes.

* If you are taking serviced offices, find out all the costs involved.

Remember, the key to choosing the right property for your business is to consider how you expect it to be doing in five years time and picking accordingly.