The answer may surprise you!
Franchise businesses come in all shapes and sizes, so you have various choices. Whatever your budget is, you should be able to find something to suit your lifestyle and pocket.
First, you must decide what you can invest in your new business - do you have savings, or will you borrow? And if borrowing - how much debt can this business service? You must ensure that you avoid the situation where your business pays you less than what you borrowed. Consider its running costs - don't rely on immediate cash flow, as this may not be the case. Make sure to put some capital aside to cover any additional expenses that may come along the way.
Next, you must decide how much financial risk you're prepared to take. You need to look at the bad-case scenario and be prepared for it. Avoid taking more risks than you're comfortable with or can afford.
Remember that franchisors have been through starting their business and know what their finances looked like during the first months and years. They are here to answer any questions and talk you through what your first year or two may look like. Use this opportunity to ask questions and understand if their business model is the right fit for you.
Lastly, think about your lifestyle and goals. Don't just look at the investment cost, but think about how the business will work with your personal circumstances and commitments. Is there flexibility in working hours and can you employ staff, these are all important things to consider.