First of all. We are entrepreneurs. People that say no to day job and wants to work for themselves and their family. To make money for themselves and financially free. Having said that all "MYSELF & Family" attitude an entrepreneur also have the ability to THINK for themselves and how do we do that?
It is said that "Entrepreneurs stands tall against the tide of popular belief", Bill Gates & Steve Jobs, two of the best entrepreneurs of all time never gave a sh*t about what other people say. What's important to them is what they want and love.
Steve Jobs said:
Your time is limited, so don't waste it living someone else's life. Don't be trapped by dogma - which is living with the results of other people's thinking. Don't let the noise of other's opinions drown out your inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.
So to answer "How to Choose the Right Franchise", ask yourself, without the thought of competition, economic crisis, or will it sell. Just ask yourself, do I like doing this? Is this really what I and my family will do for the rest of our lives without getting tired of it?
If you like food, maybe get a food cart franchise. It doesn't matter if its saturated, franchising companies will help you decide with that. The most important thing is your desire and your feelings for the business. Then when you're profiting, go to bigger FOOD type investments like McDonalds or Jollibee.
That's how entrepreneurs grow. Start small, dream big. Take little steps, but don't forget where you are going.