It can be a fairly safe decision to invest in a franchise with an established reputation such as McDonald’s or Little Caesar’s, but deciding to open a new franchise can require a bit more knowledge on investors’ parts.

New franchises require potential investors to be prepared and informed - they may become the next Cold Stone Creamery or take a few years to establish themselves. There are now more new franchises than ever before, peaking in 2007 with 106 new franchisers, making it even more imperative to ask the right questions, according to Entrepreneur Magazine writes.

Potential franchisees need to consider the track record of the company and the management team to learn how much expertise and experience they bring to the project. Additionally, franchisees should ask about the company's growth plan to insure the company sees the investors region as a priority, according to the magazine.

Finally, the magazine advises investors to speak with current franchisees about their experiences. But most of all, potential franchisees should take their time.

The top ten new franchises of 2010 are tracked by Entrepreneur.com, including start-up costs. Currently, Stratus Building Solutions, Senior Helpers and Mr. Sandless occupy the top three spots.

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!