I have personally been involved in a franchise (with some investors) and the business was up and running for almost 3 years before I walked away from it. One thing to point out about franchises is this : statistically speaking, one is MUCH more apt to be successful with a franchise versus than just a small business start up of your own.
 
One main reason for this is that the seller (the one selling the franchise) has already proven it to be successful so duplication is very easy. They also usually provide training to a franchisee in order to ensure success. Down falls? Well, they are extremely expensive. Expect to spend anywhere from $10,000 to $100,000.

Another thing that I personally experienced is that after the initial investment, you better learn to be married to your new business because if you are not, you won't succeed. Time is a major factor here. I got into it expecting to not have to work as much as I was "my own boss" ...that backfired because I was working 70+ hours a week, 6 or 7 days a week.

From my perspective, franchises are NOT worth it because although you may gain success with your new business, you will lose in areas like family life, personal life, etc. Those things are few and far between when you start a franchise. There are other ways to make money WITHOUT having the stress and time required here.

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