I would be so scared to get into a franchise. I knew someone who got into a flooring franchise and the whole process probably ended up costing her $100k out of pocket to get out of. Another thing to think about is what's popular today may not be just a few years down the road. Just look back 10 years and some of the top franchises were Quiznos, Curves, Krispy Kreme, etc.
Good points. On the one hand, you get instant name recognition and access to proven products and processes, but on the other you lose a good portion of individual control, and often have significant requirements that cost a lot of money to fulfill.