After ten years of dealing with the White House press corps, Ben Jarratt was ready for a change.

Jarratt, whose journalism studies led him to a career as a White House staffer during the Reagan and Bush Sr. years, left his position as assistant press secretary to do the unthinkable – open a Burger King.

“I was looking for something totally different, and boy did I pick it,” he said.

While Jarratt’s career move is certainly not typical for those in politics, it’s also an anomaly in the world of fast-food franchising, where even rookie franchisees often have some experience in the business.

Small business is On Topic at FOXBusiness.com in August. Check back every day to read stories about how to start, build and enhance your small business.

Still, Jarratt learned his way through the industry the way so many do – through talking with other small business owners. In fact, while lawyers and accountants are certainly important resources for those looking to open a business, the advice offered by current business owners is often just as critical.

Here’s a look at the three most important pieces of advice for potential franchisees straight from the mouths of those who have been through the process before.

Look before you leap

“One of the biggest mistakes is being totally unrealistic about the tremendous amount of hard work it takes to run a business,” said Jarratt, who opened three restaurants in his first eight months and took only three days off the whole year.

What’s already hard can become near-impossible for franchisees that don’t do their homework. Mark Dubinsky, president of the Dunkin Donuts Independent Franchise Owners Association (or DDIFO) and a 22-year veteran of the industry, said he’s surprised by how many people blindly jump into the business.

“It’s remarkable that people will commit to million dollar contracts without knowing what they need to know.”

Dubinsky, who took up his father’s Dunkin Donuts business and, at one point, owned as many as 27 locations across New England, stresses the importance of doing extensive due diligence – researching the brand, the market and all contracts involved. He also suggests potential franchisees work in a store for a minimum of three months before even thinking about signing the dotted line.

Jarratt agrees, citing what he calls “real restaurant reality.”

“You can study all you want, but it’s not until you get behind the restaurant counter that you [really get it],” he said.

Never underestimate the amount of cash needed

Opening a franchise can be an overwhelming experience – especially when it comes down to dollars and cents.

“Honestly, the scariest part of the process was just how far in debt we had to go before the doors opened for business,” said Brian Levine, who opened a Tropical Smoothie Café in Long Island, New York this past January. “Three loans and approximately $500,000 was spent before any penny of income ever came our way.”

So where does all the money go? Tropical Smoothie Café franchisees, for example, pay a franchise fee as well as fees for equipment, signage, leasehold improvements, initial inventory, architectural plans, initial deposits, and grand opening promotions, according to the company’s Web site. In total, a Tropical Smoothie Café owner should generally expect to spend between $75,000 and $100,000 in liquid assets and an initial investment of $239,000 to $340,000 to open their first location, according to the company’s site.

But that’s just the beginning. When doors open, franchisees of all kinds have to pay monthly fees and royalties as well as their employees’ payroll. They also have to be prepared for seasonal slowdowns.

“Certain businesses have a cash flow cycle,” said Dubinsky of the DDIFO. “There’s a reality to that.”

Still, when a restaurant does well, it becomes easy for franchisees to reinvest and open more stores – something independent business owners may have a bit more trouble with.

“We were just lucky our first restaurants did well,” said Jarratt. “We were able to reinvest into the franchise community and really build out a market.

Don’t take no for an answer

Buying a franchise requires the help of a lot of different people and all of it takes time and patience. For Levine, who first signed the franchise agreement in October 2006 and didn’t open for business until January 2008, that was a big reality check.

“We were naïve with this store and thought, between all the permits and buildout, that we’d be open the summer of 2007. Reality was six months after that,” he said.

Levine said he spent much of the time in between waiting on permits and going back and forth with contractors, vendors, town hall workers and inspectors. Along the way, he said he pushed to get what he wanted, when he wanted it, for the price he wanted it.

“The most important thing we learned along the way is persistence pays off,” he said.

Another thing franchisees should fight for? Location.

“The best franchisees don’t look for the least expensive location. They want to control the best real estate,” Dubinsky of the DDIFO said.