Owning a business is the American dream, and buying a successful franchise can be far less risky than trying to reinvent the wheel by striking out on your own. But is franchising right for everyone? It is right for you?

Carlos Marquez, Founder of Tri Tax, is a man in position to know what makes a good franchisee. Over the past two years, his company has blossomed from a single office in Wilmington, Calif., to more than 50 offices-all during the toughest economic climate since the Great Depression. "Many of our first-year franchisees are now on the path to opening their second office," he says. "As we wrap up this second tax season, it's amazing to see how far they've come."

Indeed, as other businesses are spiraling downward, some Tri Tax offices have increased their client lists by as much as 130 percent. "This last year has truly been amazing. We've seen several franchisees add locations, move to larger offices, or go from a kiosk location to a full-service office," Marquez states. "Tri Tax refuses to participate in the recession. I truly believe that this recession has helped our company grow."

The enthusiastic embrace of the Hispanic community has certainly contributed to the company's success, he notes, as has the way in which Tri Tax coaches its franchisees. "We've discovered that franchisees need more than a system to follow; they need continuous training and coaching, and this is where we stand out," he says. "Every elite athlete knows the power of having a great coach to put them at the top of their game, and as we coach our franchisees, we focus on closing the gap between where they are today and where they ideally want to be one year from now."

It's not only the right thing to do, but it increases profits all the way around, Marquez explains. "A common misconception is that we generate our income by selling franchises. But our franchise fee only recovers some of the cost we incur by setting up our franchisees to succeed. Our income largely comes from royalties, so if our franchisees aren't making money, we aren't making any money. It's our goal to get our franchisees profitable quickly."

Thanks to some high-profile publicity, word is spreading like wildfire about the opportunities for Tri Tax franchisees-and why it's a recession-proof business. "We were featured recently in the prestigious Spanish-language newspaper, La Opinion, and our phone has been ringing since then. Everyone knows that old Benjamin Franklin saying about death and taxes, which is why this opportunity makes sense. Many taxpayers now have to deal with the tax consequences of losing their home, losing money in stocks, or cashing out retirement accounts. Add to that all of the recent changes to the tax laws, and you can see why tax preparers are needed now."

But should potential tax preparers follow the franchise route? That depends, Marquez says. "I remember one of our operations managers telling me, 'Carlos, you can document your systems and make them available to your franchisees, but you cannot duplicate yourself.' That was a lesson for me. I want all of my franchisees to be successful, but there's only so much we can do on the corporate side. We can't follow them home and make sure they wake up on time to open their office."

One key to a good fit is that franchisees need to have similar objectives as the franchise company. "I've learned that personal goals drive business goals, so it's very important for us that someone interested in joining Tri Tax has clear goals. We educate an individual on what a franchise is. This isn't a get-rich-scheme, but a systematic way of running a business, and it takes a particular type of person to follow the system."

Those with regimented personalities are particularly successful, Marquez says. "We learned that people who have followed a structured schedule and instruction tend to be great franchisees. We've had wonderful experiences with customer services representatives, teachers, students, and food industry employees, for example, but we have franchisees from all walks of life."

Ironically, an entrepreneurial spirit may not be an asset. "A person needs to see value in what we do," he maintains. "Unfortunately, some franchisees want to do things their way, and that's unfair for other franchisees who respect their franchise agreements. Ultimately, the franchise agreement is meant to protect the customer, and we, along with our franchisees, are expected to follow it. Entrepreneurial personality types tend to want to do things their way. We like doing it the way that works."

The other critical element in a successful franchisee is a solid work ethic. "I hear and read lots of business opportunity advertisements telling people that starting their own business will allow them to live their ideal lifestyle," Marquez says. "Ultimately that's true, but people still need to work. Being in business for yourself is rewarding, and certainly being in the tax preparation industry gives you lots of flexibility year round. But people need to realize that starting and operating your own business is a daunting task. That's why having the support of a franchise is so important: it takes two."