I had a friend that bought one McDonalds store/franchise in a town of only 3,500 population a few years back.

They currently own 4 in other towns/cities and have built their dream home that rests on a  mountain top, and are living the great American dreamlife.

i know they worked countless hours ~ but they seem to be very happy with the outcome.

if i had the funds, i would buy one. i feel they (well known franchises) are better targets because folks know what to expect.

my hubby & i love to adventure out of the comfort zone, & always are in search of a local mom/pop type restaurant to call our 'new favorite'  (like when we "found" Camino Real on Truxtun) but i think most people will drive directly to the 'known' establishments. 

Like any other business, you gotta know what you're doing if it's going to have a chance. Even then, you can do everything right and still fail. Restaurants are especially risky. Unless stats have changed, 70% of them go belly-up.

Food franchises have an established product and name recognition and like Girl Scout cookies, sell themselves. Everybody knows what a McD's is, what it sells, about how much it costs, etc. and you seldom hear of a McD's going broke. Just be careful of which franchise you invest in and it's always prudent to read the fine print before signing the agreement.

Or, you can go it alone and if you have faith in your product or service, go for it.

The downside of being a franchisee is the cost of royalty and license fee.  You are buying their services and brand so the cost can be high.  However, you are investing into something that has been established and proven by the company.  McDonald's, Subway's, Chevron, etc.  You often have to conform to their standards even though you may disagreements.

While there are good, proven franchisors out there, there are also bad ones.