There are thousands of types of businesses and franchises available to entrepreneurs. Restaurants, hair salons, tire sellers and professional franchises are just a few of the choices. The list could go on for pages. While it's great to have so many options, choosing the right type of business to open is essential.

Businesspeople need to be completely honest with themselves when pursuing a franchising opportunity, wrote Peter Vanden Bos in a recent Inc. article. They need to be sure they know what they're hoping to get out of opening a business. Keeping in mind whether or not an owner wants this to be a full-time job is also important, as is knowing if the plan is to eventually open several locations.

"The decision can be overwhelming," wrote Vanden Bos. "No one particular business is for everyone, but to find one that will give you a greater chance of success, you should be prepared to devote a significant amount of time and research."

Businesspeople considering a franchise should also know what they're best at, how much time they're willing to commit to the franchise, how important status is and how much risk they're ready to take on. Passion for the job can be the difference between sinking and swimming for new franchise owners.

The Liberty Tax Service franchise opportunity is #9 on the fastest growing franchises list of the 2010 Entrepreneur “Franchise 500.” Our tax franchise is an affordable and viable business choice. Each office provides thorough, computerized tax preparation coupled with superior customer service. For the best small business opportunity in the income tax franchise industry, choose Liberty!